Tik Tok has a new move! Allow customers to "buy now, pay later"

Tik Tok has never relaxed its pace of expansion in the Southeast Asian market.

Recently, TikTok announced that it has signed a partnership agreement with financial startup Advance Intelligence Group to expand its online retail business in Malaysia.

According to reports, this move is part of TikTok's important strategy. This cooperation will not only expand the company's service scope in the field of e-commerce, but also increase its popularity and sales potential. This further consolidates TikTok's position as a diversified platform that not only provides entertainment services but also promotes commercial transactions, thereby diversifying its revenue sources.

As part of the collaboration, Advance Intelligence will launch a buy now, pay later (BNPL) service called Atome as a payment option for TikTok Shop, allowing Malaysian customers to choose to pay in installments of 3 to 6 months.

TikTok Shop head of e-commerce strategy and special projects Jonathan Low said in a statement on Friday (July 21) that the partnership will drive the company's growth and provide merchants and small businesses with convenient and flexible payment options.

Atome’s Head of Commerce, William Yang, said the company is excited to drive the growth of e-commerce and support brands of all sizes by integrating Atome as a payment option for TikTok Shop.

The partnership is part of TikTok's pursuit of growth in markets other than the United States, where it faces challenges despite being its largest market.

Therefore, the importance of developing other markets is self-evident. TikTok Shop has also been actively expanding in the Southeast Asian market in order to compete with existing established platforms. The company's CEO once said that the company will invest billions of dollars more in Southeast Asia in the next few years.

As of April this year, TikTok has more than 325 million monthly active users in Southeast Asia. The company also announced plans to allocate US$12.2 million to support more than 120,000 small and medium-sized enterprises to conduct online business. The funds will be distributed in the form of cash grants, digital skills training and advertising credits .

TikTok

expansion

BNPL