Manila, Philippines – Buy now, pay later (BNPL) platform Atome has partnered with global financial services company Mastercard to launch the Atome Card in the Philippines, offering Filipino consumers a new way to pay with credit.
The Atome Card provides cardholders with an Atome line of credit that can be used to pay online and in-store retailers by simply presenting their Atome Card during check-out. It offers no annual fees, sign-up fees or other hidden charges, easy application on mobile, payment flexibility, virtual or physical card can be used anywhere Mastercard is accepted, and easy view/manage of payment schedule.
At launch, consumers in the Philippines can register their interest for the Atome Card with one click, directly via the latest version of the Atome app, or via the Early Bird registration in the Atome website. Selected consumers from the Early Bird phase will receive an email inviting them to apply for the Atome Card.
Magic Tang, Atome’s payment partnerships director, commented, “The launch of the Atome Card marks an exciting new chapter for Atome, as it’s the first financial service we offer apart from Buy Now, Pay Later. With no annual fees and minimum income requirements, the Atome Card will give many underserved segments in the Philippines access to a flexible credit facility, the first such innovative solution across the region with more markets to come in the next few months.”
Meanwhile, Simon Calasanz, Mastercard’s country manager for the Philippines, said that Mastercard is delighted to partner with Atome on this innovative product that will contribute to building a cash-lite society and drive financial inclusivity by serving more than 70% of Filipinos who are unbanked or underbanked and do not qualify for credit cards.
“The Atome Card will enable cardholders with choice, control and flexibility to manage their finances and is available to use anywhere Mastercard is accepted. For merchants, this also means increased sales and better conversion rates, extending the benefits of digital commerce to more consumers and businesses in the Philippines,” he added.
In July 2022, Atome partnered with local-based online payment processing platform PayMongo to expand BNPL acceptance among merchants in the country. The partnership will enable PayMongo’s over 10,000 merchant network in the Philippines to offer their customers flexible deferred payment options, with no additional annual or service fees as an alternative checkout payment option.