Ripple Partner Airwallex Launches Installment Payment Option For Asian Shoppers

Merchants can now offer a Buy Now Pay Later (BNPL) payment option to shoppers in selected Asian countries.

Airwallex, a leading global fintech company, has partnered with Asian BNPL giant Atome to launch an installment payment option for its merchant customers.

Under the partnership, Airwallex merchants can offer a Buy Now Pay Later (BNPL) option to shoppers in Indonesia, Hong Kong, Singapore, and Malaysia.

Airwallex Supports Asian Businesses

It is noteworthy that the announcement marks Airwallex’s first partnership with a Buy Now Pay Later payment provider. Following the partnership, more shoppers will be encouraged to patronize Airwallex merchants, thus boosting the revenue of these businesses.

Before the announcement, Airwallex offered its merchants multi-currency card-based payment solutions through Mastercard, Visa, and UnionPay, across selected Southeast Asian countries and Hong Kong.

Commenting on the development, Arnold Chan, Airwallex’s Southeast Asia and Hong Kong General Manager, said the partnership is part of the company’s efforts to provide adequate support for businesses in the region, adding:

“We want to give businesses access to all the benefits of BNPL, which will not only help them increase revenues but also create a more seamless customer experience for the longer term that will enable them to unlock new market opportunities.”

Airwallex is also planning to expand its partnership with Atome to roll out the BNPL payment option in other Asian countries, including Thailand, Japan, and the Philippines.

Jeremy Wong, Atom’s Head of Strategic Partnerships, said the collaboration will help Airwallex merchants boost their conversion rates while also increasing customers’ payment choices.

“BNPL is becoming an increasingly popular payment choice among shoppers today, particularly among the fast-growing Gen Z and millennial customer segment. With this partnership, millions of customers across the region can now shop and pay through flexible deferred payments at Airwallex merchants,” Wong added.

Airwallex And Ripple Network

Launched in 2015 in Melbourne, Australia, Airwallex is a multinational fintech company that offers various financial services. Airwallex also offers cross-border transactions through a proprietary banking network.

In 2017, Airwallex joined Ripple’s enterprise blockchain network, and the company has been using RippleNet to facilitate cross-border remittances.

At the time, Ripple said its blockchain network was 100 times stronger after the company revealed that over 100 financial institutions, including Airwallex, had joined its enterprise blockchain network.

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