AsiaPay partners with Pace to offer shoppers BNPL option

By Leandra Monteiro

AsiaPay, a digital payment solution and technology vendor in Asia, announced a new collaboration with Pace Enterprise (Pace), Asia Pacific’s fast-growing FinTech solutions provider, to give shoppers more freedom in their shopping journeys with a “Buy Now Pay Later” (BNPL) payment option. This partnership allows both parties to forge ahead and tap onto the growing demand for BNPL services in the Asia Pacific region.

“The move towards digital payments across Asia is accelerating and there is increasing merchant demand for a complete integrated payment acceptance solution to optimize sales and business conversion.” AsiaPay CEO, Joseph Chan said, “With Pace, AsiaPay’s merchants’ customers now have a new BNPL payment option during their check-out process through the easy and simple-to-follow check-out process. Additionally, Pace users can now gain access to a wide range of merchants currently using AsiaPay’s digital payment solution services, giving them a more flexible payment alternative that boosts customer experience.”

“Our aim for Pace has always been to give shoppers more freedom to own what they need, and this partnership with AsiaPay makes it a breeze for shoppers who are interested to explore paying for their purchases with a BNPL payment option. With the integration of Pace on the AsiaPay platform, we hope to add value not just for shoppers, but also for merchants of AsiaPay – our research has shown that a simple and straightforward three equal interest-free payment over 60 days option from Pace increases a customers’ average transaction value by 42%,” said Turochas ‘T’ Fuad, Founder and CEO, Pace.

Officially launched in January 2021, Pace has grown to become a pan-Asian BNPL provider in less than one year, with operations in Singapore, Malaysia, Thailand, and Hong Kong, and a monthly active user base that has grown 52 times over nine months since its rollout.