Targets to achieve RM200million in transactions for 2022 with Expansion plans in Southeast Asia in Quarter 1, 2022.
The ASEAN Fintech Group launches its first Buy Now-Pay-Later platform, PaySlowSlow.com (PSS), 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 utilize PaySlowSlow to shop online and physically in shops to split their purchases into four interest-free equal payments at over 500 merchant partners, both physical retail stores and online merchants.
With merchants ranging from 5-star conference resorts such as Bangi Resort Hotel to Ai home- a SMART personal and home technology retailers among others, users can purchase products or experiences with a worry-free installment plan, making it a better way to pay.
PaySlowSlow’s 0% interest buy-now-pay-later platform allows for greater inclusion for non-credit cards 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, which makes up 55%* of the population with limited access to purchase goods and services with installment payment.
Merchants on the PaySlowSlow platform enjoy a risk-free experience with an upfront payment of the sale, no sign-up fees, and registration costs. A transaction fee is collected upon successful sales via our platform. In addition, marketing support is extended to all merchants through curated marketing campaigns aimed at driving traffic & improving sales conversion to their business. To sign up, visit https://payslowslow.com/my/for-business/
SIGN UP REBATE
From November 2021 till 31st December 2021, Beauty & Travel category merchants** who sign up for PaySlowSlow.com will receive a bonus rebate of RM2,000to offset transactions fees within the first three months of onboarding. For more information, visit wwwpayslowslow.com/signup to register your interest.
**Applicable to the first 50 merchants under the Beauty & Travel category
Complementing offline marketing efforts, PaySlowSlow.com offers merchants an additional avenue via the “PaySlowSlowShop”(https://payslowslowshop.com/) its online e-commerce store, which will feature monthly exclusive deals and money-saving promotions curated for the PaySlowSlow shopper. Users who select online checkout at the PaySlowSlowShop can take advantage of the extra discounts only available in the store.
“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. 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.” says Kin Wai Lau, Executive Director, ASEAN Fintech Group
Koay Wei Chin, General Manager PaySlowSlow.com, adds, “To unlock growth opportunity for businesses, we want to be the bridge between our merchants and users. As a result of the global pandemic, we have seen a significant shift to digital means in the retail landscape and consumer spending behaviors. 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.
Malaysia is the first stop for The ASEAN Fintech Group’s BNPL platform. Plans to expand to other parts of the Southeast Asia region in the coming months are underway.