Kuala Lumpur, Nov 26: The ASEAN Fintech Group has launched its first ever Buy Now-Pay-Later platform, PaySlowSlow.com, in Malaysia, giving Malaysian shoppers and businesses an opportunity for growth and greater control for a better shopping experience.
As a web and mobile-based platform, Malaysians can utilise PaySlowSlow to shop online and physically in shops and split their purchases into four interest-free equal payments at over 500 merchant partners.
“We see the trend of Buy-Now-Pay-Later (BNPL) services picking up momentum in Malaysia, and this is an opportune time for us to launch PaySlowSlow.com in Malaysia,” ASEAN Fintech Group Executive Director Kin Wai Lau said.
“In line with the AFG vision to build a multi-vertical fintech value chain, PaySlowSlow is an example of how we build a synergistic value for consumers and SMEs that use the services of the AFG Group of companies.
“By cross-partnering our payment gateway, BetterPay, with BNPL business PaySlowSlow, we value-add to our customers.”
With merchants ranging from five-star conference resorts such as Bangi Resort Hotel to Ai home- a SMART personal and home technology retailer among others, users can purchase products or experiences with a worry-free instalment plan, making it a better way to pay.
PaySlowSlow’s zero percent interest buy-now-pay-later platform allows for greater inclusion for non-credit card users as they can now select between credit and debit cards as a payment method.
The debit card option allows the user to manage their money better to avoid high-interest rates on credit cards.
PaySlowSlow aims to ease consumer financial burdens whilst still allowing them to purchase what they want.
At the same time, it helps to provide access to credit to the underbanked and unbanked in Malaysia, who make up 55 percent of the population with limited access to purchase goods and services via instalment payments.
Merchants on the PaySlowSlow platform enjoy a risk-free experience with an upfront payment of the sale, no sign-up fees and registration costs.
“To unlock growth opportunities for businesses, we want to be the bridge between our merchants and users,” PaySlowSlow.com general manager Koay Wei Chin said.
“As a result of the global pandemic, we have seen a significant shift to digital means in the retail landscape and consumer spending behaviours.
At PaySlowSlow.com, we believe that everyone should have an option to manage their money better and spend with more purchasing power, control and flexibility.”
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