- AsiaPay integrates Pace as a BNPL payment option for consumers digital merchants across in 3 countries (Singapore, Malaysia and Hong Kong).
- A smooth and simple checkout process allows shoppers to choose Pace as their payment option, splitting their bills into three equal interest-free payments paid over 60 days.
- The partnership adds value for merchants with Pace BNPL payment option seeing customers spending more, with a 42% increase in transaction amount per customer.
SINGAPORE, Oct. 21, 2021 /PRNewswire/ — AsiaPay, a leading digital payment solution and technology vendor in Asia, today announced a new collaboration with Pace Enterprise (Pace), Asia Pacific’s fast-growing fintech solutions provider, to give shoppers more freedom in their shopping journeys with a “Buy Now Pay Later” (BNPL) payment option. This partnership allows both parties to forge ahead and tap onto the growing demand for BNPL services in the Asia Pacific region as it seeks to become the world’s fastest-growing BNPL market, as more shoppers explore BNPL as a billing approach.
“The move towards digital payments across Asia is accelerating and there is increasing merchant demand for a complete integrated payment acceptance solution to optimize sales and business conversion.” AsiaPay CEO, Joseph Chan, said: “With Pace, AsiaPay’s merchants’ customers now have a new BNPL payment option during their check-out process through the easy and simple-to-follow check-out process. Additionally, Pace users can now gain access to a wide range of merchants currently using AsiaPay’s digital payment solution services, giving them a more flexible payment alternative that boosts customer experience.“
“Our aim for Pace has always been to give shoppers more freedom to own what they need, and this partnership with AsiaPay makes it a breeze for shoppers who are interested to explore paying for their purchases with a BNPL payment option. With the integration of Pace on the AsiaPay platform, we hope to add value not just for shoppers, but also for merchants of AsiaPay – our research has shown that a simple and straightforward three equal interest-free payment over 60 days option from Pace increases a customers’ average transaction value by 42%,” said Turochas ‘T’ Fuad, Founder and CEO, Pace.
Officially launched in January 2021, Pace has grown to become a pan-Asian BNPL provider in less than one year, with operations in Singapore, Malaysia, Thailand, and Hong Kong, and a monthly active user base that has grown 52 times over nine months since its rollout.
Pace is a fast-growing fintech solutions provider headquartered in Singapore that focuses on providing digital financial products for merchants and consumers in Asia Pacific. Its “Buy Now Pay Later” (BNPL) solution for offline and online merchants matches customers with appropriate spend limits, and allows them to split their purchases over three equal interest-free payments. Pace currently operates in Singapore, Malaysia, Hong Kong and Thailand. For more information about Pace and how it is driving financial inclusion in Asia Pacific, visit https://pacenow.co/.
Founded in 2000, AsiaPay, a premier digital payment service, and technology player strive to bring advanced, secure, integrated, and cost-effective electronic payment processing solutions and services to banks, corporate and e-Businesses in the worldwide market, covering an array of international credit card, debit card, prepaid card, netbanking, eWallet, and QR, as well as cash collection.
AsiaPay is an accredited payment processor and payment gateway solution vendor for banks certified ISO and PF for serving merchants, certified international 3-D Secure vendors for Visa, MasterCard, American Express, and JCB. AsiaPay offers its variety of award-winning payment solutions that are multi-currency, multi-lingual, multi-card, and multi-channel, together with its advanced fraud detection, payment analytic, and management solutions.
Headquartered in Hong Kong, AsiaPay offers its professional ePayment solution consultancy and quality local service support across its other 13 offices in Asia including Australia, Thailand, Philippines, Singapore, Malaysia, Mainland China, Taiwan, Vietnam, Indonesia and India. For more information, please visit www.AsiaPay.com and www.paydollar.com.