2C2P partners with Pine Labs to expand BNPL acceptance in SEA
By Leandra Monteiro
2C2P, a global payments platform, and merchant commerce omnichannel platform Pine Labs, have partnered to expand Buy Now Pay Later (BNPL) across Asia in six key markets, namely Singapore, Malaysia, Hong Kong, Indonesia, the Philippines and Thailand.
This partnership is expected to boost consumer confidence in the region and empower retail merchants to sell more and sell often to their customers. Pine Labs’ BNPL strategy has a strong track record in India and has now expanded into various Southeast Asian markets. Since its launch in Singapore, Pine Labs Pay Later has emerged as a flexible payment option for merchants across a variety of verticals, including retail and tech.
“We are delighted with the rapid strides we are taking in Southeast Asia when it comes to expanding our Buy Now Pay Later proposition. In this respect, we are excited to announce today our partnership with leading payments player 2C2P. With more young shoppers preferring digital modes of payments, we believe our BNPL offering will hit the right chord with the discretionary consumer of today and help merchants in the region drive sales, especially of big-ticket items, and contribute to a positive customer experience,” said Dheeraj Chowdhry, Chief Business Officer & Head – Pay Later, Southeast Asia, Pine Labs.
“BNPL solutions have emerged as an essential capability for card issuers and merchants across the globe. In doing so, by partnering with Pine Labs, we are excited to aggregate customer demand and increase retailers’ cross-sell opportunities. If shoppers prefer a BNPL fintech solution, we are here and enabling it; if they want an option from their banks, we’re offering those too. At 2C2P, we are always looking for new ways to support our merchants’ growth and enhance the payment experience by offering all types of payment options. With the shift in demand for digital payments and the appeal of interest-free payments, BNPL is an effective tool to expand sales and attract younger tech-savvy customers,” said Agnes Chua, Executive Director of Business and Product Development of 2C2P.