Asia United Bank (AUB) is riding on the growing momentum for buy now, pay later (BNPL) in the country as it partners with Asia’s leading BNPL platform provider Atome and Singapore-based fintech MatchMove to launch Atome Card in the Philippines.
Wilfredo Rodriguez, AUB’s head of Operations and Technology Group, said BNPL allows Filipino consumers to pay less now without having to worry about interest rate hikes in the future.
According to the fourth-quarter 2021 BNPL Survey of Research and Markets.com, BNPL payment in the Philippines is expected to grow by 109.7 percent on annual basis to reach $803.5 million (P45.2 billion) in 2022 as “consumers are increasingly looking for flexible and convenient payment solutions which allow them to manage their finances effectively.”
Rodriguez said that Atome Card offers many Filipinos greater choice, flexibility, and access to quality products and services, extending the benefits of digital commerce to more consumers and businesses in the country.
