In an bid to increase the size of the local e-commerce market, Atome, the consumer financing platform and TikTok Shop, the e-commerce branch of the social media platform have collaborated to bring Atome’s service to TikTok’s platform.
This follows the trend of the growing e-commerce market in Malaysia, which has boomed significantly in the last few years, especially during the pandemic.
The collaboration will include Atome’s famed ‘buy now pay later’ as a payment option on TikTok Shop. Since it’s introduction earlier this year, the social media app has been ramping up the push for TikTok Shop to be a leading e-commerce option.
According to Atome’s head of commercial, William Yang, Atome’s user-friendly ‘buy now pay later’ service allows customers to stretch the payment for their purchases to three or six months.
“By integrating Atome as a payment option on TikTok Shop, we’re excited to help drive ecommerce growth and support brands of all sizes, but especially SMEs and young entrepreneurs in Malaysia, while also providing consumers with the choice, convenience, and flexibility of how they want to shop and pay,” said William Yang.
Meanwhile, Jonathan Low, the e-commerce lead of strategy and special projects at TikTok Shop, said that they expect this partnership to “drive growth”.
The partnership is expected to “drive growth” and “enable merchants and small businesses to offer their customers a convenient and flexible payment option,” said Jonathan Low in a statement.
This partnership indicates the ongoing effort by TikTok’s aggressive expansion into Southeast Asia’s e-commerce market.
“We’re going to invest billions of dollars in Indonesia and Southeast Asia over the next few years,” TikTok CEO Shou Zi Chew said in a forum in Jakarta last week.
