Atome wins Technology Excellence Award for Payments (Fintech Category)
Its buy now pay later flexible payment option allows shoppers to split bills into three equal, zero interest, zero fee payments over 3 months.
Atome bagged the Fintech: Payments award during Singapore Business Review’s recently concluded Technology Excellence Awards.
Millennial and Gen Z shopping and payment behaviour have rapidly evolved over the last two years. Not only do they expect a secure, seamless and easy payment experience, but they also want flexibility and choice in how they shop and pay, online and in-store.
Atome, which stands for “Available To Me”, launched its Buy Now Pay Later (BNPL) solution in late 2019 to give shoppers the option to split their bills into three equal, zero interest payments, free of annual or servicing fees.
To pay using Atome, customers either scan a QR code at a physical shop with the Atome mobile app or select Atome during checkout on partner merchants’ websites.
For both online or offline merchants, partnering with Atome increases conversions and grows average orders and customer segments. Atome’s proprietary risk decision engine translates to a seamless registration, payment and checkout journey that improves the shopping experience, which in turn builds longer lasting customer relationships. In return, Atome charges a small processing fee (known as MDR) per transaction.
Atome’s merchant partners have experienced an average of about 25 per cent increase in the number of transactions and order sizes. One of its merchant partners, Singapore-based homeware retailer, IUIGA, saw online sales grow 15% and basket size almost double, all this during a challenging 2020 for the retail industry in general.
Atome currently partners over 3,000 online and offline retailers in nine markets (Singapore, Indonesia, Malaysia, Hong Kong, Taiwan, Vietnam, Philippines, Thailand and mainland China). Key merchant partners include Sephora, Agoda, Zalora, SHEIN, Zara, Marks & Spencer, Charles & Keith, Aldo, Furla and Pandora across categories such as fashion, beauty, travel, homeware, lifestyle and health and fitness.
The Technology Excellence Awards, presented by Singapore Business Review, was held via studio award presentations and video conferencing sessions throughout the second and third week of April.
This year’s nominations were judged by a panel consisting of Daryl Pereira, Head of Cyber at KPMG; Cheang Wai Keat, Partner, Consulting at Ernst & Young Advisory Pte. Ltd.; Henry Tan, Group Chief Executive Officer and Chief Innovation Officer at Nexia TS; Sivakumar Saravan, Senior Partner at Crowe Singapore; Cecil Su, Director, Head of Cybersecurity of BDO Singapore.
If you would like to join the 2022 awards and be acclaimed for your company’s exceptional technological innovations, please email Jane Patiag at email@example.com.