Some ‘buy now, pay later’ players eye a slice of the F&B pie
Smaller receipts are not deterring BNPL providers from expanding into the sector in the quest to acquire more customers, but not everyone is keen.
Megan Cheah
WHEN it comes to large bills for a new refrigerator or travel package, it may make sense to “buy now, pay later” (BNPL) – splitting the payment into interest-free instalments that allow consumers to spread out their costs.
Yet BNPL service providers have started making forays into the food and beverage (F&B) sector, an area with markedly smaller bills than big-ticket items.
In April, Atome brought more than 70 restaurants and cafes on board its BNPL platform. Brands including restaurant chain The Connoisseur Concerto, bakery Paul and Korean restaurant Chir Chir Fusion Chicken Factory now offer Atome’s payment instalment schemes.
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