TikTok Shop strikes a timely launch of BNPL in Malaysia in partnership with Singapore-based Atome. Apple Pay Later continues to bite into its BNPL competitors’ market share, including long-established players. Mondu and Acquired.com will partner to offer B2B BNPL services to UK and EU businesses.
Klarna and UK government org Money Advisors Network will provide UK consumers concerned about BNPL debt with independent advice and 24/7 support. Zip continues its market ups and downs in Australia. Meanwhile, despite the perils of BNPL debt, Proactive Investors sees upside potential for Block and other industry leaders.
Always lots of developments as the BNPL payment world turns.
![Tik Tok BNPL Malaysia - BNPL Report Tik Tok BNPL Malaysia](https://bnplreport.com/wp-content/uploads/2023/07/Tik-Tok-BNPL-Malaysia-300x225.png)
TikTok Shop taps Atome BNPL in Malaysia for e-commerce push
TikTok Shop, the e-commerce marketplace of the short video app, will offer a “buy now, pay later” service Atome in Malaysia. TikTok partnered with BNPL service Atome to offer installment payments on its e-commerce marketplace in Malaysia, the latest in the company’s e-commerce push into Southeast Asia. TikTok Shop will include Atome as a payment option, allowing customers to spread deferred payments over three or six months. CNBC
![Tik Tok BNPL Malaysia 2 - BNPL Report Tik Tok BNPL Malaysia 2](https://bnplreport.com/wp-content/uploads/2023/07/Tik-Tok-BNPL-Malaysia-2-300x212.png)
TikTok signs payment pact with Atome in Malaysia as Chinese video app expands e-commerce
Advance Intelligence, backed by Warburg Pincus, will offer its Atome buy now pay later service as a payment option on TikTok Shop in Malaysia. The deal boosts the Singapore-based AI company, whose payments business has gained tens of millions of users in Southeast Asia since starting in 2016. TikTok plans to invest billions of dollars in Southeast Asia over the next three to five years, betting on the region to spur growth for its e-commerce arm. South China Morning Post
![Apple Pay Later BNPL - BNPL Report Apple Pay Later BNPL growth](https://bnplreport.com/wp-content/uploads/2023/07/Apple-Pay-Later-BNPL.jpg)
Apple Pay Later, tech giant’s BNPL play, bites competitors
Apple phased in its buy now, pay later service in late March, and research by JD Power shows it has taken off like a rocket. In a survey of 8,000 consumers in May and June, 33.8% said they had used some form of BNPL in the previous 90 days and nearly one-fifth (19%) used Apple Pay Later in its first three months. Though Apple is not in the leading position, its 19% share of BNPL users is impressive and exceeds some brands that have been around longer, including Sezzle and Zip. The Financial Brand
![Mondu BNPL - BNPL Report Mondu BNPL](https://bnplreport.com/wp-content/uploads/2023/07/Mondu-BNPL.png)
Mondu and Acquired.com expand B2B BNPL in UK and Europe
B2B payments company Mondu has partnered with payments provider Acquired.com. Through Acquired’s network, Mondu’s B2B payment services will be available to business customers across the UK and Europe. Mondu started in 2021 in Germany and launched its BNPL B2B solution for merchants and marketplaces. Its flexible payment solutions include net terms and installments for online checkouts and in-person and telesales. Acquired.com
![Klarna partners with Money Network - BNPL Report Klarna partners with Money Network](https://bnplreport.com/wp-content/uploads/2023/07/Klarna-partners-with-Money-Network-300x197.png)
Klarna is first BNPL provider to partner with Money Adviser Network to provide customers fast, free debt advice
Klarna announced a partnership with the Money Adviser Network (MAN) to help UK consumers quickly access free and impartial debt advice to promote healthy spending. Klarna is the first BNPL provider to join forces with the Money Adviser Network, enabling individuals who are “concerned about their finances or would like independent and free credit advice to access 24/7 support.” MAN is provided by MoneyHelper, a UK government body. Klarna
![Zip up Q4 - BNPL Report Zip up in Q4](https://bnplreport.com/wp-content/uploads/2023/07/Zip-up-Q4-300x238.png)
FY23: Q4 growth for Zip
Zip had a successful Q4, up on last year’s results, reporting Group quarterly revenue of $193.8m, up 21.1% YoY, and transaction volume of $2.3b, 6.4% YoY. In Q4, the company signed or launched with Webjet, Peloton, Sheike and Hewlett Packard in Australia, and WHP Global, Mitchell and Ness, Fevo, Hanes Brand and Lovely Wholesale in the US. Internationally, it divested its businesses in Central and Eastern Europe (Twisto), South Africa (Payflex) and the Middle East (Spotii). Power Retail
![BNPL perils - BNPL Report BNPL perils](https://bnplreport.com/wp-content/uploads/2023/07/BNPL-perils-300x179.png)
The perils of sales and the buy now pay later trap
The thought of getting a bargain pushes us to spend based on a concept known as financial abstraction. Financial abstraction is why companies such as Block (who owns Square and Afterpay) and the banks will do very well. What often goes unnoticed is that when using services, such as BNPL and credit cards, fees and/or interest charges add to the purchase cost. Proactive Investors