TikTok Shop, the e-commerce marketplace of the short video app, will be offering "buy now, pay later" service Atome in Malaysia in its efforts to promote e-commerce in Southeast Asia. Jonathan Low, e-commerce lead of strategy and special projects at TikTok Shop, commented in a statement released on Friday that the partnership is expected to "drive growth" and provide merchants and small businesses the ability to provide their customers with a convenient and flexible payment solution. As TikTok Shop seeks outgrowth prospects beyond the U.S., the company has been working hard to expand its e-commerce presence in Southeast Asia.
TikTok has partnered with "buy now, pay later" provider Atome in order to extend installment payments to its e-commerce marketplace in Malaysia. The collaboration with Atome is a step forward in the company's e-commerce initiatives in Southeast Asia. The customers of TikTok Shop will now be able to take advantage of the deferred payment options for three to six months. Atome is a part of Advance Intelligence Group, based in Singapore, and is backed by large investors such as SoftBank Vision Fund 2 and Warburg Pincus.Jonathan Low, the e-commerce lead of strategy and special projects for TikTok Shop, expressed his enthusiasm about the partnership in a statement on Friday, claiming it would "drive growth" and "provide merchants and small businesses with a convenient and flexible payment option."William Yang, head of commercial for Atome, mirrored Low's sentiments on the collaboration, noting that it would allow for "ecommerce growth" and "support brands of all sizes."
CNBC Pro provides readers with detailed analysis of Nasdaq-100 modifications and how they could impact mega-cap tech stocks. Citi analysts believe NVIDIA's rally has substantial staying power. Standard Chartered forecasts a possible appreciation of Bitcoin to $100,000 by 2024. In the meantime, a chip race is intensifying, with one Chinese stock witnessing an impressive 30% jump within five days.
Investors can gain insight into the alterations of the Nasdaq-100 and its implications for large-scale tech companies like Nvidia. In particular, financial experts from Citi have expressed that the surge in Nvidia's stock is unlikely to reduce anytime soon. Additionally, Standard Chartered predicts that the price of Bitcoin could reach $100,000 by 2024. As the competition among semiconductor firms intensifies, one Chinese firm has risen by 30% within a week.
TikTok is pursuing markets outside of the U.S., as the app has been banned in Montana and India. In recent months, the company has worked to expand its e-commerce service, TikTok Shop, in Southeast Asia, competing against well-known players like Sea's Shopee and Alibaba's Lazada. The CEO of the company has declared that it will invest billions of dollars in Southeast Asia in the coming years. TikTok reported having over 325 million monthly users in the area, and in June, announced a $12.2 million investment to help 120,000 small and medium-sized businesses sell their products online, through cash grants, digital skills training, and advertising credits.
Comments