The yearly shopping spree at Ant’s platforms will be easier with a new BNPL product, small businesses can also benefit from a separate lending solution
Ant Group continues to expand its product range in Asia with a new BNPL offer from Ant Bank in Hong Kong and SME loans from its Singaporean digital wholesale bank Anext.
Ant Bank PayLater on AlipayHK launches ahead of the Double 11 event (the Chinese equivalent of Black Friday) and the Christmas holiday shopping season. Customers can pay in instalments both when shopping at AlipayHK’s merchant network and e-commerce platform Taobao.
Users can apply for the Ant Bank PayLater payment method on Ant Bank Mini App in AlipayHK. Approval takes about one minute. The 3-month interest-free installment plan is available for all purchases over HKD100 at local online merchants accepting AlipayHK. Merchants accept payment made via Ant Bank PayLater without delays, signing up or extra programming.
Meanwhile, Ant’s newly-launched bank Anext will help Singaporean small businesses to grow and survive through the economic crisis. Small firms can now apply for loans of S$5000 – S$100,000 via partners IN Financial Technologies and Bizmann System.