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Atome & Taobao Singapore introduce BNPL payment option in Singapore

By Gloria Mathias

May 14, 2024

  • APAC news
  • Atom
  • BNPL
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Atom, TikTok Shop, eCommerce, FinTech, Digital Payments, Buy Now, Pay Later, Singapore, Social Commerce, Payments, BNPL, Payments Technology, APAC News, Singapore News, Fintech Singapore, Singapore Fintech,Atome, Southeast Asia’s digital financial services platform, has announced its collaboration with Taobao Singapore to introduce its buy-now-pay-later (BNPL) payment option for Taobao shoppers in Singapore.

According to Statista, Singapore’s eCommerce market was worth $8 billion in Gross Merchandise Volume (GMV) in 2023 and is expected to grow another 25% to hit $10 billion by 2025.

The collaboration between Taobao Singapore and Atome reflects the former’s continuous efforts to elevate the consumer shopping journey. It allows Singapore users to access an extensive range of over 2 billion products more conveniently on Taobao. The introduction of Atome’s pay-over-time BNPL option will make the cross-border shopping experience even more seamless and affordable for its users.

Jean Zhao, Taobao Singapore Country Manager, said, “Singapore is a key market for us, and we are dedicated to delivering localised solutions that make the experience of shopping on Taobao and Tmall akin to that of local shopping.  Adding Atome’s popular BNPL payment option to our range of existing options will offer greater choice, flexibility and convenience to our valued customers and elevate their shopping experience.”

“We’re excited to team up with Taobao Singapore to introduce BNPL payment options to their users. Together, we aim to provide consumers with a more convenient and flexible shopping and payment experience while also supporting Taobao Singapore’s merchant community. This enables a more seamless cross-border shopping experience and supports regional ecommerce to thrive and grow,” said Bryan Quek, General Manager Atome Singapore.

The BNPL payment option is available to shoppers in Singapore on the Taobao mobile app. To use it, shoppers first need to have an existing Atome account and add Atome to the checkout payment option on the app.

Leveraging its unique expertise in risk-managed credit and responsible financing, Atome is committed to enhancing digital and financial inclusion through technology.

Taobao Singapore aims to facilitate convenient shopping on Taobao and Tmall for Singapore consumers. Through the Taobao app, Singapore shoppers can access more than 2 billion products, complete with logistics, payment and other services and offers tailored to their individual market needs.

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