Agoda, a fast-growing online travel platform, has teamed up with Singapore-based Buy Now, Pay Later (BNPL) platform Atome in order to provide flexible instalment plans for accommodation bookings. These payment options will first be offered in Singapore and Malaysia, and then rolled out to several other Southeast Asian countries in 2021.
Through the partnership, travelers in Singapore and Malaysia will have the option to pay for their hotel accommodation in three installments without being charged any interest. Customers won’t be required to pay any other extra charges or service fees when they choose Atome during checkout on Agoda’s official website or mobile app.
This new secure payment option for Agoda travellers will be offered in other Asian countries (later on) such as Indonesia, Philippines, Thailand, Vietnam, Hong Kong and Taiwan.
Darren Makarem, VP of Commercial Finance at Agoda, stated:
“We are always looking for innovative ways to help more people access travel, using tech to simplify the search, booking and payment processes. The launch of our instalment payment offering with Atome will enable Singaporean and Malaysian travellers who might have previously found it inconvenient to pay for their booking in one lump sum to spread the costs over multiple payments by choosing to pay with Atome, without incurring additional costs.”
David Chen, CEO at Atome, remarked:
“Travel and tourism supports so many businesses, livelihoods and economies across Asia. We’re truly humbled to play our part in helping to boost domestic tourism by introducing buy now, pay later payment flexibility and convenience on the Agoda platform today. As more borders in Asia re-open for travel in 2021, our regional partnership will allow even more Agoda travellers to enjoy this payment convenience and flexibility at checkout, improving the customer experience.”
Atome introduced its BNPL service back in December 2019 and has teamed up with more than 2,000 retailers. The company’s flexible payment options may be accessed via its app which can be downloaded from the App Store and Google Play Store.
BNPL services have become increasingly popular across the globe. In December 2020, The Robocash Group announced a Buy Now, Pay Later service “UnaPay” launch in the Philippines.
Many BNPL Fintechs in Australia are not properly regulated, which poses serious risks, according to Grant Halverson, CEO and MD at McLean Roche Pty Ltd.