Bangkok, 7 July 2022 – 2C2P, a global payments platform, today announced a partnership with Atome Thailand, a leading ‘Buy Now Pay Later’ (BNPL) brand, to expand BNPL acceptance among local merchants. This partnership enables 2C2P’s extensive merchant network in Thailand to offer their customers BNPL as an alternative payment method. The expansion of BNPL acceptance builds on 2C2P and Atome's successful partnership in Singapore and Malaysia, launched in September 2021.
The market share of ecommerce payments using BNPL in Thailand is expected to double from 2022 to 2025, according to an IDC InfoBrief commissioned by 2C2P. Meanwhile, BNPL spending on ecommerce in Thailand is set to expand by more than 7 times from 2020 to reach over $1 billion in 2025. The certainty and transparency of BNPL repayment and credit terms and aversion to interest fees, have led to BNPL’s growing popularity, particularly amongst millennials and Gen Z consumers.
With Atome (pronounced "A-To-Me" and meaning "Available to Me"), customers can make payments over three months with zero interest, service fees or annual fees by downloading Atome’s mobile application and registering for an account with either a credit or debit card in under two minutes.
Through this partnership, over 100 merchants using 2C2P’s platform in Thailand across retail, travel and technology sectors can now offer their customers the option to pay using Atome, either online or in-store. This will strengthen Atome’s reach in Thailand, which currently extends to over 200 retailers, including global fashion brands like ALDO, Charles & Keith, Guess, H&M, Lee, MLB and SHEIN, beauty brands like EveandBoy, Konvy and Sephora, as well as travel platform Agoda.
“Our regional strategic partnership with Atome enables our merchants and retailers to offer a seamless and flexible payment experience, and we are excited to offer Atome to our merchants, both in-store and online, now in Thailand,” said Piyachart Ratanaprasartporn, Chief Executive Officer of 2C2P Thailand. “At 2C2P, we are always looking for new ways to support our merchants’ growth and enhance the payment experience by offering all types of payment options. With the growing trend towards digital payments and the appeal of interest-free payments, equipping our merchants in Thailand with the additional BNPL option provides a convenient and effective tool to optimise sales and attract new and younger customers.”
Jeremy Wong, Head of Strategic Partnerships at Atome, said: “More than ever, consumers want flexibility, transparency and a better, more personalised shopping and payment experience. Our partnership with 2C2P will support thousands of merchants across Thailand in enabling a superior, secure checkout experience for consumers, in-store and online. This, in turn, will optimise customer conversion, increase average orders and repeat sales.”