Atome, the region’s leading buy now pay later (BNPL) brand, announced that total gross merchandise value (GMV) has grown by 30 times since its launch in the Philippines in late 2021.
Since its launch, Atome Philippines has grown its retail network by 8 times, to include over 1,500 online and offline retailers across fashion, beauty, travel, electronics and sports. Key merchants include Agoda, Dyson, Inditex Group (Zara, Bershka, Pull & Bear, Massimo Dutti), Nike, Penshoppe, Rustan’s, SM Store, Xiaomi and Zalora.
In recent months, Watson’s Philippines and leading Philippine fashion retailer Suyen – which distributes brands such as Bench, Human, Kashieca, Cotton On, Aldo, Charles & Keith, Jo Malone, Mothercare, American Eagle and La Senza – also added Atome’s checkout option across hundreds of physical store outlets across the country. This brings Atome’s total offline footprint to almost 7,000 physical stores in the Philippines.
To further provide access to affordable credit among the unbanked and underbanked, Atome – which stands for “A-vailable TO ME” – also soft-launched the Atome Card in the Philippines last August. The Atome Card, which gives consumers a pre-approved line of Atome credit of up to P200,000, received a strong response with over 120,000 registrations during the invite-only phase. 70% of applicants are between 25 to 40 years old.
Zine Nedil, General Manager, Atome Philippines said, “Growing merchant sales by 30X in our first year is strong testament to BNPL’s value proposition especially among younger, tech-savvy Gen Zs and millennials. Having the trust and partnership of key merchants like SM and Suyen while delivering business growth and ensuring a good consumer experience during Covid-19 is extremely encouraging. As the Philippines emerges from the pandemic with dramatic changes in both consumer and retailer mindsets, we’re very excited to roll out new products such as the Atome Card and our multi-tenure products to broaden financial access and better address the needs of underbanked and underserved Filipinos.”
To enhance the overall user experience, Atome also has an in-app loyalty rewards programme, Atome+ which allows consumers to earn points when they check out using Atome, to offset future purchases, as well as redeem rewards and experiences.
Atome is also planning to move beyond pay-in-3 deferred payments, and will soon launch multi-tenures plans of 6 and 12 months respectively, in response to strong demand and interest from both retailers and consumers.
The Atome Philippines mobile app is available on the App Store and on Google Play.
