Merchants who sign up with PayHalal can now benefit from the Riba free, 0% interest programme as well as thousands of Atome’s pre-approved consumers with a maximum RM 5,000 spending limit.
With brands like Zurich Takaful, Celcom, Misz Nina, Cattle Queen, Halal Development Corporation (HDC) Berhad, and many other blue-chip merchants already onboarded, the Islamic Buy Now pay later programme offered by PayHalal and Atome aspires to provide merchants with a sustainable income by generating traffic into their webstore and storefronts.
This is further driven by tactical campaigns offered by Atome’s Buy Now Pay Later app, which drives the app users to PayHalal’s merchant base for halal and Syariah-compliant products and services.
The campaign has already kickstarted with special promotions – offering the first 786 merchants free set-up for the PayHalal payment gateway, which has been pre-loaded with an approved iBNPL facility.
Registration can be completed online in 30 minutes with immediate approval or with PayHalal’s on-ground roving team, which will be mobilised to assist offline merchants.
With PayHalal’s merchant payment services, consumers can expect transparent, Riba and Gharar free transactions reiterating PayHalal’s goal to provide consumers with protection when they shop online.
PayHalal is also forecasting RM8.61 billion in payment processing volume and RM135 million revenue as revenue for the company in the next financial year 2023.
Azhani Azman, Director of Sales at PayHalal, shared that iBNPL will propel Malaysian businesses to a whole new level as the feature offers great benefits to merchants and consumers. “With the flag-off of this campaign, especially during this Ramadhan month, where we will be kickstarting the campaign, we expect this to catch on quickly. At PayHalal, we remain committed to helping Malaysian businesses fast-track their digital pivot. iBNPL offers merchants complete market access to shoppers looking to make the most of their budget, whereas shoppers can purchase their heart’s desire without breaking the bank.”
On top of helping merchants gain exposure to a wider segment of consumers, PayHalal through iBNPL also offers them additional benefits that include business support in the form of digital marketing and even training for physical stores looking to digitalise their businesses
This innovative facility also benefits consumers, who can now shop with flexible payment options that include zero-interest deferred payments with no annual and servicing fees required. They will also enjoy shopping from an extensive Syariah-compliant merchant base.
“We’re excited to partner with Asia’s leading BNPL player, Atome, to bring greater options and value-for-money deals to Malaysian shoppers,” Azhani continued. “With the festive shopping period coming ahead of the Hari Raya celebrations, this is the perfect time for shoppers and merchants to maximise their benefit from the festive sales. This partnership will also see additional perks and discounts provided to new merchants onboarded during this period.”
Jeremy Wong, Head of Strategic Partnerships, Atome, shared, “With the launch of iBNPL, the Atome program is now available to all PayHalal merchants. Every merchant who signs up on PayHalal will benefit from Atome’s zero-interest program, technology strength and marketing prowess. For Muslim consumers, this means they can shop using iBNPL knowing that their purchase is Shariah-compliant,” said Wong.
“This is the first of many such initiatives to deepen our commitment in Malaysia. We will be adding the Malay language option on our Atome app soon and roll out our local campaigns. We will also grow our operations across more cities in Malaysia by the end of the year,” Jeremy added.
Meanwhile, folks in Klang Valley, Penang, Malacca, Johor Bahru, and East Coast can expect a special iBNPL surprise near them until the end of May. Keep your eyes peeled for the iBNPL truck with Rovers. They will be on the move daily, ready to help merchants come onboard PayHalal and enjoy the platform’s perks – safe, Syariah-compliant payments and a promotional offer of ZERO entry fees!