UOB to launch 'buy now, pay later' feature in Indonesia; banks watching space

UOB will introduce a buy-now-pay-later (BNPL) feature in Indonesia soon, as it experiments with this space, said the bank's senior executives. (see Amendment note)

The move comes amid recent shake-ups in the Singapore BNPL market, with Standard Chartered tying up with local BNPL player Atome, and as ShopBack snaps up Atome's peer hoolah.

The bank later told The Business Times that the launch of this new service, dubbed TMRW Pay, will be in Indonesia, and that it will be working with a partner. It declined to elaborate on which partner and when.