Atome partners with TikTok Shop to introduce buy now, pay later in Malaysia

TikTok has partnered with Atome, a “buy now, pay later” service, to introduce installment payments on its e-commerce marketplace in Malaysia. This move is part of TikTok’s broader strategy to expand its e-commerce presence in Southeast Asia.

Under the partnership, TikTok Shop will offer Atome as a payment option, allowing customers to spread their payments over three or six months.

Atome is the “buy now, pay later” arm of Advance Intelligence Group, a Singapore-based fintech firm backed by major investors such as SoftBank Vision Fund 2 and Warburg Pincus.

The partnership aims to drive growth and provide a convenient and flexible payment option for merchants and small businesses on TikTok Shop, according to Jonathan Low, e-commerce lead of strategy and special projects at TikTok Shop.

William Yang, head of commercial at Atome, added, “By integrating Atome as a payment option on TikTok Shop, we’re excited to help drive ecommerce growth and support brands of all sizes.”

TikTok’s expansion into the e-commerce market outside of the U.S. continues as it seeks new growth opportunities. While the U.S. remains its largest market, TikTok has faced challenges there following the app ban in Montana and India.

In Southeast Asia, TikTok Shop has been aggressively competing with established players like Sea’s Shopee and Alibaba’s Lazada in the e-commerce sector. The company’s CEO has announced plans to invest billions of dollars in Southeast Asia over the next few years, with over 325 million monthly users in the region as of April.

In June, TikTok committed $12.2 million to support over 120,000 small and medium-sized businesses in selling online. This investment includes cash grants, digital skills training, and advertising credits for these businesses.