Atome has grown to partner 500 plus online and offline retailers in the Philippines, including ZALORA, Agoda, Rustan’s and the SM Store.
PayMongo offers a quick and fully-online onboarding process and seamless API integration with retail websites or apps, which allow them to accept digital payments such as credit and debit cards, online banking, e-wallets, and now buy now pay later, during checkout.Ītome launched in the Philippines in October 2021 and allows customers to split their shopping bills with flexible deferred payment options, with no additional annual or service fees. Kristoffer Cheng, eCommerce and Digital Marketing Manager for Anson’s, said: “Setting up Atome as a buy now, pay later option in our website was a quick and easy experience because PayMongo makes integration seamless.”įounded in 2019, PayMongo is one of the fastest growing fintech companies in the Philippines. The certainty and transparency of BNPL repayment and credit terms as well as aversion to high interest fees have led to BNPL’s growing popularity, especially among millennials and Gen Z consumers.Īnson’s, the leading premium home appliances and electronics store in the Philippines has been one of the merchants to first accept Atome payments via PayMongo. BNPL Gross Merchandise value in the country will increase from $383 million in 2021 to reach $9476.8 million by 2028. At the same time, BNPL payment adoption is expected to grow steadily in the Philippines, recording a CAGR of 50.9 percent during 2022-2028 according to. Digital and mobile payments will absorb the bulk of that spend, said the report. This partnership enables PayMongo’s 10,000 plus merchant network in the Philippines to offer their customers flexible deferred payment options, with no additional annual or service fees as an alternative checkout payment option.Ĭash payments fell below 50 percent of POS share in 2021 and will decline to less than one-third share of transaction value by 2025, according to the 2022 Global Payments Report by FIS WorldPay. PayMongo, a Manila-based online payment processing platform, announced on Tuesday a partnership with Atome Philippines to expand BNPL acceptance among merchants in the country.
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