iPay88, Southeast Asia’s leading regional payment gateway provider today announced its partnership with Asia’s leading buy now pay later platform Atome to expand seamless buy now pay later (BNPL) acceptance across iPay88’s merchant touchpoints in Malaysia.
APAC is leading the global digital payment revolution and is on track to represent more than half of global non-cash transactions by 2025 according to the World Payments Report by global consultancy firm Capgemini. Increasing mobile internet penetration coupled with the recent pandemic-induced shift to digitalisation has led to the rise of BNPL as a payment option. BNPL is expected to more than double its market share by 2024 according to the 2021 Global Payments Report by FIS-Worldpay.
Launched in 2000 and headquartered in Malaysia, iPay88 is Southeast Asia’s leading regional payment gateway provider. As part of the NTT Data corporation, a Japanese system integration company, iPay88 offers ecommerce, online and retail payment solutions to more than 35,000 merchants globally. Today, the company also has presence in Indonesia, Philippines, Cambodia, Thailand and Singapore and currently engages over 200 professionals across its regional offices.
Lim Kok Hing, Co-Founder and Executive Director of iPay88, said, “We are excited to partner with Atome to expand buy now pay later acceptance as a flexible payment option for our merchants across their payment touchpoints in Malaysia. This partnership will enable them to offer a quicker, smoother and seamless payment experience for their shoppers both online and in stores. With the growing adoption of BNPL in Malaysia, this partnership will support our merchants by helping them to drive better conversions and business growth through BNPL payment acceptance.”
“Accelerated by the Covid-19 pandemic, consumers today expect a flexible, secure and transparent payment experience. This partnership will enable more merchants in Malaysia to offer Atome’s BNPL payment option across their payment touch points, giving consumers greater flexibility and choice in how they want to pay. This partnership will also help support and drive recovery in retail sales as Malaysia emerges from the Covid-19 pandemic,” said David Chen, CEO of Atome.