9 months ago
72 Two sellers offering merchandise for merchantability done a TikTok livestream.
Bay Ismoyo | Afp | Getty Images
TikTok struck a concern with "buy now, wage later" work Atome to connection installment payments connected its e-commerce marketplace successful Malaysia, the latest successful the company's e-commerce propulsion into Southeast Asia.
TikTok Shop volition see Atome arsenic a outgo option, which would let customers to dispersed deferred payments implicit 3 oregon six months.
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Atome is the BNPL limb of Singapore-based fintech steadfast Advance Intelligence Group, which is backed by large investors similar SoftBank Vision Fund 2 and Warburg Pincus.
The concern is expected to "drive growth" and "enable merchants and tiny businesses to connection their customers a convenient and flexible outgo option," Jonathan Low, e-commerce pb of strategy and peculiar projects astatine TikTok Shop, said successful a connection connected Friday.
"By integrating Atome arsenic a outgo enactment connected TikTok Shop, we're excited to assistance thrust ecommerce maturation and enactment brands of each sizes," said William Yang, caput of commercialized astatine Atome.
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The concern comes arsenic TikTok looks to markets extracurricular of the U.S. for growth. While the U.S. is the company's largest market, TikTok faces headwinds determination aft Montana became the first state to ban the app. The app has besides been banned successful India.
In caller months, TikTok Shop has been aggressively expanding into e-commerce successful Southeast Asia, competing against existing players similar Sea's Shopee and Alibaba's Lazada.
TikTok's CEO antecedently said the institution volition pour "billions of dollars" into Southeast Asia over the adjacent fewer years. As of April, TikTok said it has much than 325 cardinal monthly users successful Southeast Asia.
In June, the institution said it would put $12.2 million to assistance implicit 120,000 tiny and medium-sized businesses merchantability online. The concern consists of currency grants, integer skills grooming and advertizing credits for these businesses.
