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TikTok struck a partnership with "buy now, pay later" 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, which would allow customers to spread deferred payments over three or six months. Atome is the BNPL arm of Singapore-based fintech firm Advance Intelligence Group, which is backed by major investors like SoftBank Vision Fund 2 and Warburg Pincus. The partnership is expected to "drive growth" and "enable merchants and small businesses to offer their customers a convenient and flexible payment option," Jonathan Low, e-commerce lead of strategy and special projects at TikTok Shop, said in a statement on Friday. "By integrating Atome as a payment option on TikTok Shop, we're excited to help drive ecommerce growth and support brands of all sizes," said William Yang, head of commercial at Atome.
Persons: TikTok, Atome, Warburg Pincus, Jonathan Low, William Yang Organizations: Advance Intelligence Group, SoftBank Locations: Malaysia, Southeast Asia, Singapore, Atome
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