Atome, Southeast Asia's leading digital financial services platform, has announced its collaboration with Taobao Singapore to introduce a buy-now-pay-later (BNPL) payment option for shoppers in Singapore. This partnership aims to enhance the shopping experience for Taobao users, making it more convenient and flexible.
Growth of e-commerce in Singapore
According to Statista, Singapore's e-commerce market was valued at US$8 billion in Gross Merchandise Volume (GMV) in 2023. It is expected to grow by another 25%, reaching US$10 billion by 2025. This significant growth underscores the importance of providing more accessible and flexible payment options to consumers.
Enhancing the shopping experience
The collaboration between Taobao Singapore and Atome reflects Taobao's commitment to improving the shopping journey for its Singaporean users. With over 2 billion products available on Taobao, the introduction of Atome's pay-over-time BNPL option is set to make cross-border shopping even more seamless and affordable.
Jean Zhao, Country Manager of Taobao Singapore, stated, “Singapore is a key market for us, and we are dedicated to delivering localised solutions that make the experience of shopping on Taobao and Tmall akin to that of local shopping. Adding Atome's popular BNPL payment option to our range of existing options will offer greater choice, flexibility and convenience to our valued customers and elevate their shopping experience.”
Supporting merchants and regional e-commerce
Bryan Quek, General Manager of Atome Singapore, shared his excitement about the collaboration, saying, “We're excited to team up with Taobao Singapore to introduce BNPL payment options to their users. Together, we aim to provide consumers with a more convenient and flexible shopping and payment experience, while also supporting Taobao Singapore's merchant community. This enables a more seamless cross-border shopping experience and supports regional e-commerce to thrive and grow.”
Special promotions for Atome users
To celebrate this collaboration, Taobao Singapore is offering Atome users a special promotion of S$12 off with a minimum spend of S$120 every Saturday leading up to August 3. Additionally, during Taobao Singapore's 6.18 mega shopping festival from June 1 to 7, shoppers can enjoy an extra discount of S$15 off with a minimum spend of S$200.
The BNPL payment option is now available to shoppers in Singapore through the Taobao mobile app. Users need an existing Atome account and add Atome to the app's checkout payment options.
