Thursday, September 21, 2023
Google search engine
HomeWorld USTik Tik Shop Buy Atom Now, Pay Later Contribution in Malaysia

Tik Tik Shop Buy Atom Now, Pay Later Contribution in Malaysia

Two sellers are offering goods for sale via a TikTok live stream.

Besmoyo AFP | Getty Images

TikTok has partnered with “buy now, pay later” service Atom to offer installment payments on its e-commerce marketplace in Malaysia, the latest in the company’s e-commerce push in Southeast Asia.

TikTikShop will add Atom as a payment option, allowing users to spread deferred payments over three or six months.

Related investment news


Atom is the BNPL arm of Singapore-based fintech firm Advance Intelligence Group, which is backed by major investors such as SoftBank Vision Fund 2 and Warburg Pincus.

Jonathan Lowe, e-commerce lead for strategy and special projects at TikTok Shop, said in a statement on Friday that the partnership is expected to “drive growth” and “enable merchants and small businesses to offer their customers a convenient and flexible payment option.”

“By integrating Atom as a payment option on TikTok Shop, we’re excited to help e-commerce grow and support brands of all sizes,” said William Yang, Head of Commercial at Atom.

Read more about tech and crypto from CNBC Pro

The partnership comes as TikTok looks to markets outside the US for growth. While the US is the company’s biggest market, TikTok is facing difficulties after Montana became the first state to ban the app. This app has also been banned in India.

In recent months, TikTok Shop has been aggressively expanding into e-commerce in Southeast Asia, taking on existing players such as of the sea Shopee and Alibaba’s Lazada.

TikTok’s CEO previously said the company would pour “billions of dollars” into Southeast Asia over the next few years. As of April, TikTok said it had more than 325 million monthly users in Southeast Asia.

In June, the company said it would invest $12.2 million Helping over 120,000 small and medium businesses sell online. The investment consists of cash grants, digital skills training and advertising credits for these businesses.


Source by [CNBC News]



Please enter your comment!
Please enter your name here

- Advertisment -

Most Popular

Recent Comments