Atome provides a payment method based on the BNPL business model. This is a new innovation and is an emergent layer in the credit space. In this model, the relationship is between the consumer and the merchant rather than the traditional relationship between the consumer and the corresponding bank/ credit card company.
The BNPL companies take around 5% to 6% from the retailers. However, ever since the boom in e-commerce, the retailers are willing to give due to the increased traffic they are witnessing.
The freedom of shopping is a great feeling. But most of us are unable to enjoy this freedom due to financial constraints. Sometimes the financial responsibilities stop us from buying even the necessities of life. Most of us live on tight budgets that do not allow us to get anything extra. In the past couple of years, these budgets have already been disturbed due to the pandemic. Atome has proved to be of great help for people in these difficult times. It becomes easier to buy when you can break up the payment into parts.
Atome offers the BNPL business model to its consumers. Simply speaking, it is a Buy Now Pay Later model. In this model, the consumer is only required to pay a third of the actual payment initially. It allows them freedom in shopping, and the burden is shared equally over three months; hence they do not upset their budget overly.
If you use Atome as your payment method, then you can make local payments as well as global payments.
HOW TO USE ATOME AS YOUR PAYMENT METHOD
The payment method is easy enough. There is nothing long and complicated about it. The method is simple enough. No matter how you pay, the first few steps are the same.
Install the app on your smart device, then make an account with ATOME. You will have to submit your details. Do not worry, and it is not a complicated process. This is necessary as we will need to check your credit details before you can start shopping. Then you have to wait for the fast approval for your assigned credit limit.
If you are paying through the internet, you need to visit the affiliated merchant sites. The merchants need to be liaised up by Atome for you to shop at. The list of these merchants is available on Atome ‘s official site. After you have shopped, you just have to choose Atome as your payment option at the time of payment. The rest is taken care of. You will be asked for a third of the payment only, which will automatically be deducted from your affiliated card.
If you visit a physical store, you can still use the services of Atome. You will be assigned a QR Code. At the time of payment, you need to scan this QR Code at the cashier or at the time of checkout.
HOW TO MAKE GLOBAL PAYMENTS FOR ATOME
Atome is based in Singapore. However, its services are available globally. It gives you the convenience of making global payments like any other credit company. The entire method is the same as above. It’s just at the end of credit cards that when the payment is debited, conversion rates apply. You can make global payments wherever you go.
MERCHANTS WORKING WITH ATOME
For your convenience, Atome has liaised with all sorts of brands offering various products and services. You will find the names of major brands as well as local brands on the list.
- Masimo Dutti
- Charles and Keith
- Marks and Spencer
- Atelier Lodge
- 3A Pottery