Atome Buy Now Pay Later (BNPL) x TikTok Shop Malaysia

Starting from Thursday, 20 July 2023, TikTok Shop is proud to announce that we will be having our official collaboration with Atome to allow customers to use Atome Buy Now Pay Later (BNPL) to split their TikTok Shop purchase payment across 3 or 6 months installment*. *Atome 6 months installment is only available to certain users, as determined by Atome's governance and risk control. For user inquiries and support, kindly contact support@atome.my.

What is Atome Buy Now Pay Later (BNPL)?

Atome Buy Now Pay Later (BNPL) is a payment solution offered by Atome Malaysia to offer Atome users the service of buy now and pay later when it comes to purchasing the products they desire.

How does Atome Buy Now Pay Later (BNPL) work on TikTok Shop?

With the collaboration and integration of Atome BNPL within the TikTok Shop payment ecosystem, TikTok Shop customers with a valid and verified Atome registered account in Malaysia can now make an immediate purchase and pay for it later across 3 months installment at 0% interest or 6 months installment (1.5% service fee per month) from any TikTok Shop sellers (local-to-local or crossborder sellers) through Atome.Here is how it will work from a customer standpoint for your reference:

Setting up for the first time

How to place an order with Atome 3 Months

How to place an order with Atome 6 Months

Benefits of Atome BNPL for sellers

1. Upsell higher priced products and increase your Average Order Value (AOV). 🛒

• Give customers the option to pay in installments starting from 0% interest (3 months installment option) or a low service fee of 1.5% per month (6 months installment option) pay later service for the customers.
• They will have a higher confidence to spend more and will be more likely to checkout with lesser hesitation (possibility for them to add more items to their shopping cart).

Tap into a brand new pool of customers and eventually increase your overall conversion rate and sales. 📈FAQs

1. As a seller, where can I participate or register to offer customers the ability to pay using Atome Installment for my store?

• Atome 3 months and 6 months Installment is activated automatically for all sellers in Malaysia (local-to-local and crossborder sellers) starting on Thursday, 20 July 2023.
• The payment method will be made available to customers:
• With valid and verified Atome account
• Have the Atome app installed on their mobile phone and has linked up their Atome account to TikTok App
• Updated their TikTok App Version to the latest version

2. Do customers have to pay any service fees for using the Atome 3 or 6 months installment?

For 3 months installment, there are no service fees as it is 0% interest free. However, for the 6 month installment, each customer order is subjected to a 1.5% service fee per month.

3. Do customers have to pay other types of additional fees for using the Atome 3 or 6 months installment?

• Other than the service fee that Atome may charge for the 6 month installment (1.5% service fee per month), there will be no other types of additional fees that Atome will charge the customer should he or she follow the installment payment schedule and pay their monthly repayment accordingly.
• On the contrary, there will be certain additional fees if they do not fulfill the repayment schedule. You may review the product terms and conditions for applicable fees here issued by Atome.

4. Customers can choose to split their payment into 3 or 6 separate months. Does this mean that I will also be paid in 3 or 6 separate months? How will I receive payment from my customers if they pay through this payment method?

• No worries. You will receive your full payment just as usual.
• When a customer's order has been marked as completed, you will receive the settled amount to your Seller Account Balance as per usual within (D+6)+1 basis.

You can then withdraw the amount from your Seller Account balance to your designated bank account.

5. As a seller, I will normally be billed by TikTok Shop for the 2.12% (tax included) Transaction Fee for every successful completed customer order. Will I still be charged this transaction fee? Is there a separate different seller fee that I will need to bear for this BNPL service?

• There are no additional new fees to pay for this BNPL service. Any customer orders completed via Atome will only be charged the usual default Transaction Fee of 2.12% (DST tax included).
• To learn more about the usual Transaction Fee that we charge, kindly visit our feature guide here.

6. Can my customers pay off their Atome installment early?

Yes. Customers could pay in advance 3 days after order date by following the below steps:

7. What is the refund efficiency if the customers initiate a full refund or partial refund?

Refunds are processed in different ways, depending on the status of customer's payment schedule.

• For full refund, once the refund is successfully processed, any unpaid installment will be cancelled, and the amount already charged will be refunded to customer's debit or credit card within 3-15 business days.
• With a partial refund, once the refund is successfully processed, refund amounts are taken off the next scheduled installment first. Any excess balance will be refunded to customer's debit or credit card within 3-15 business days.

Customers' Atome accounts will be updated to reflect the full or partial refund under the "Bills" tab.

8. Why can't my customer see Atome as a payment option when placing the order?

• Kindly ensure your customers have installed the Atome app, have a valid and approved Atome account, upgrade the TikTok app version to 30.1 or above and try again. If they are still unable to see Atome payment option, please request them to contact TikTok Shop customer service for further assistance.
• *Kindly take note that due to Atome's account governance and risk control, there might be some users that will NOT be eligible to pay using Atome 6 months installment.

9. If customers wants to use Atome, is there a minimum and maximum amount transaction limit?

Yes. The minimum amount for Atome 3 or 6 Months is RM 10.00. The total amount when the customer is checking out must be RM 10.00. As for the maximum amount, it is RM 100,000.00. However, do take note that this maximum.