Device-as-a-service better than BNPL?

IN FOCUS

In today’s newsletter, we look at:

• A new way to experience gadgets
• Ant International’s expansion play

Welcome to The Top Up! Delivered every fortnight via email and through the Tech in Asia website, this free newsletter breaks down the biggest stories and trends in fintech. Get it in your email inbox by registering here.

Hello,

The moment Samsung announced its first Galaxy Fold device, I felt a strong urge to try a foldable phone. Every time my desire seemed too much to handle, I’d simply look at the gadget’s hefty price tag – and just like that, my wallet would be safe again.

Thankfully, I managed to wait it out until the fifth model came out. But since I still couldn’t justify the price of a brand-new unit of the latest model, I ended up getting a used one from the previous release. I even scored a sweet deal on it.

Cinch, a Singapore-based startup, is looking to make this process of trying new gadgets easier through its device-as-a-service model. It also offers laptops and smartphones that businesses can rent to reduce upfront spending.

The company can fill the buy now, pay later gap in reaching more customers, too, as my colleague Melissa points out in this week’s featured story.

While both services allow customers to get access to new devices without paying a huge amount upfront, rates are understandably lower for rental units. These devices also get into the hands of users much faster compared to those purchased via BNPL as renting eliminates the need for comprehensive checks before approvals.

Moreover, users renting devices are less restricted by lock-in periods compared to those tied to BNPL payment plans.

In this edition’s Hot Take, I look into Ant International going live in Sri Lanka with Alipay+.

— Miguel

THE BIG STORY

Cinch snags $28.8m to shake up device ownership in Asia

Image credit: Timmy Loen

THE HOT TAKE

Unlock the region’s digital future and investment hotspots at the inaugural Asia Economic Summit