Atome eyes expansion in South Korea by year-end
This will make Atome the BNPL that covers the most number of markets in Asia.
Buy now, pay later platform (BNPL) Atome plans to open its services in South Korea by the end of 2022.
“(This) makes also Atome the buy now, pay later that covers most of the countries in Asia,” Vili Poulain, regional vice president Strategic Partnership at Atome, said at the Retail Asia Summit.
The Singapore-headquartered company is present in Indonesia, Philippines, Vietnam, Thailand, Malaysia, Hong Kong, Taiwan, China, and Japan.
Poulain said Atome has 10,000 merchants, and 20 million registered customers in Asia, and has disbursed $1b over 15 million transactions.
How does the buy now, pay later scheme benefit merchants? Poulaine said Atome helped merchants deliver bigger basket sizes, with around a 25% increase in average basket size.
Merchants also saw a 12% to 17% increase in order conversion, she said, adding that they also helped bring in new customers, with over 25% of sales being directed from Atome.
She also said that they observe repeat visits from customers where 85% of shoppers returned to retailers that offer Atome.
There is a very high pattern where the users keep going back to merchants where they offer Buy now pay later as a convenience,” she said.