Fintech platform, Split, has entered the Buy Now Pay Later (BNPL) market to provide Malaysian consumers and merchants with sustainable solutions, boosting purchasing confidence, and increasing overall turnover.
High-end merchants, like Dyson, Switch, Lorna Jane, and Gamers Hideout, has participated in Split’s BNPL payment solutions. The merchants will be able to experience increased customer traffic, higher sales conversions, and an incremental revenue.
The creation of Split is to provide a win-win solution to both merchants and consumers. The company aims to empower both in affordability during this difficult time.
“Consumers can gain instalment payments with the usage of the BNPL instalments thus reducing the risks of interest and fees for using a credit card instalment plans. For merchants, the BNPL instalments can be offered immediately because Split is not tied to any specific banks,” Co-Founder of Split, Dylan Tan said.
A recent RAM Business Confidence Index (RAM BCI) survey mentioned that cash flow remains a key concern for businesses, particularly Small and Medium Enterprises (SMEs) and micro enterprises, with nearly 70 percent indicating that the Conditional Movement Control Order (CMCO) has further eroded their cash flow.
