Listen to this articleAtome, the region’s leading digital consumer financing platform, has joined forces with TikTok Shop to revolutionize the e-commerce landscape in Malaysia. This strategic partnership enables businesses of all sizes, but particularly young entrepreneurs and small and medium enterprises (SMEs), to harness the potential of online shopping and foster economic growth in the country.
Malaysia’s e-commerce industry has experienced tremendous growth in recent years, with a surge in digital adoption and changing consumer behaviour. According to Statista, online shopping in Malaysia is projected to exceed RM84 billion by 2025. This trend not only signifies a shift in consumer preferences but also presents a significant opportunity for local businesses to thrive in the digital marketplace.
Atome’s seamless “buy now, pay later” service offers consumers the flexibility to make purchases and spread deferred payments over three or six months. With Atome live as a payment option on TikTok Shop in Malaysia, consumers can enjoy an enhanced online shopping and checkout experience.
With TikTok Shop’s innovative social commerce features and Atome’s convenient payment solution, entrepreneurs can leverage the power of e-commerce to expand their reach and drive sales growth.
William Yang, Head of Commercial, Atome, said, “This partnership between TikTok Shop and Atome signifies a milestone in the e-commerce landscape in Malaysia, heralding a new era of convenience, accessibility, and growth for businesses and consumers alike.
By integrating Atome as a payment option on TikTok Shop, we’re excited to help drive ecommerce growth and support brands of all sizes, but especially SMEs and young entrepreneurs in Malaysia while also providing consumers with the choice, convenience and flexibility of how they want to shop and pay.”
Jonathan Low, E-commerce Lead of Strategy and Special Projects, TikTok Shop, said, “TikTok Shop is about elevating the shopping experience for consumers and providing brands and small businesses with opportunities to drive growth – all of which is done by bringing together content and commerce.
Through this partnership with Atome, TikTok Shop enables merchants and small businesses to offer their customers a convenient and flexible payment option.”
Atome also recently announced the first-of-its-kind Lender of Record partnership with Standard Chartered Bank in Singapore, which has resulted in over 100,000 transactions booked since April. A similar partnership will also be rolled out to Malaysia soon.
This partnership, which is part of a 10-year multi-product strategic collaboration with the Bank, enables Atome to grow and promote financial inclusion for its millions of customers across the region, while enhancing the Bank’s access to retail customers.
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