Lokesh Choudhary · · 1 min readTikTok Shop signs deal with BNPL major Atome in Malaysia
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TikTok Shop has signed a deal with buy now, pay later firm Atome in Malaysia that will allow consumers to defer payment for their purchases over three or six months.
“By integrating Atome as a payment option on TikTok Shop, we’re excited to help drive ecommerce growth and support brands of all sizes,” William Yang, head of commercial at Atome said in statement.
Atome is operated by Singapore-based Advance Intelligence Group, which raised US$80 million from Warburg Pincus and Northstar Group. Recently, Atome confirmed its withdrawal from the Vietnamese market due to lackluster business.
Meanwhile, TikTok Shop has been aggressively expanding in Southeast Asia. Despite being a new player, TikTok Shop is already one of the region’s top five ecommerce players in terms of market share, according to a recent report from venture builder Momentum Works.
In June, CEO Shou Zi Chew said TikTok will invest billions in Southeast Asia in the coming years.
See also: TikTok’s Project S triggers alarm bells in Indonesia
Editing by Thu Huong Le and Eileen C. Ang
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