New checkout app lets Singaporeans pay for all kinds of things in installments

A person pays using a mobile app. Image: Blake Wisz
A person pays using a mobile app. Image: Blake Wisz

There’s a new app that lets Singapore’s shoppers pay for all kinds of things in installments.

Launched by a local fintech startup this week, the Atome SG app enables both online and offline shoppers to purchase items in monthly installments over three months without interest. 

The mobile checkout app has so far linked up to around 500 merchants, including local fashion retailer Playdress, True Fitness, and retail brands under the Primer Group, which include BratPack and Dr. Martens. 

App users can either scan a QR code at physical shops or choose the Atome payment option when they check out on participating merchants online. 

Atome SG interface.
Atome SG interface.

“The way people shop has irreversibly changed. Retail has irreversibly changed. The shift towards online began before COVID19 but this has now been accelerated. Businesses have to adapt quickly and find new sources of revenue and new ways to serve existing as well as new customers,” CEO David Chen said in a news release. 

The app is similar to others that have already launched in other countries, such as Affirm, AfterPay, and Klarna. Australia’s AfterPay reportedly has more than 8 million users from around the world, mostly millennials or Gen Z shoppers. 

Amid a global financial crisis, it seems like obtaining new items without having to pay fully right away could be a tempting option. 

Other stories you should check out:
Shop from 100 virtual stalls at ‘Taiwan night market’ coming to Singapore
Entire family of delivery riders bring cheer and love for Hari Raya
Billionaire heiress upset beauty clinics deemed ‘nonessential’
Make sustainable living ‘sexy’ at three-day virtual Conscious Festival 

Paywall: You’re outta here, Coconuts stories are free for all

We have removed our paywall on all Coconuts stories. This does not mean the end of COCO+ Membership at all, but the value proposition is changing.

Rather than being a transactional subscription – whereby you pay for access to content – it is now a true membership program – whereby Coconuts stories are free for everyone but super-fans can monetarily support our independent journalism, and get added member benefits.

If you'd like to support Coconuts, you can become a COCO+ Member for as little as US$5 per year. Thank you!

READ MORE

CITY: SINGAPORECATEGORY: LIFESTYLESUB-CATEGORIES: RETAIL THERAPYTAGS:

Leave a Reply

Coconuts TV
Our latest and greatest original videos
Subscribe on
MOST POPULAR

Send this to a friend