DigitalCFO Newsroom | 18 March 2022
Global payments leader 2C2P today announced its regional partnership with hoolah, Asia’s leading Buy Now Pay Later (BNPL) provider. The partnership enables 2C2P to offer hoolah’s service to merchants in Singapore, Malaysia and Hong Kong, and extend to new markets through 2022.
Through 2C2P’s comprehensive payments platform, merchants can seamlessly provide hoolah’s BNPL payment option at checkout for customers to split purchases into three monthly interest-free repayments. Together, 2C2P and hoolah will help merchants boost their order size and reach more millennial and Generation Z customers who favour BNPL payment methods.
“This partnership with hoolah bolsters our continuous effort to build an integrated payment solution that will help businesses securely accept payments across all channels to reach different customer segments and capitalise on the e-commerce boom. Our goal at 2C2P is to ensure that we constantly innovate to meet evolving business and consumer needs,” said Aung Kyaw Moe, CEO and Founder of 2C2P.
Arvin Singh, CEO and Co-Founder of hoolah, commented: “With more consumers looking for a flexible, transparent, and highly personalised way of paying online, our partnership with 2C2P will empower merchants and enhance BNPL adoption in the region. 2C2P’s expertise in payments acceptance in Asia is a great complement to the hoolah ecosystem, and we’re excited to embark on this journey to support merchants and take their businesses to greater heights.”
hoolah was recently added as a BNPL payment option by Malaysia Airlines and parent Malaysia Aviation Group’s travel and lifestyle platform, Journify, further facilitating worry-free travel experiences for customers.
“We are committed to offering safe and seamless end-to-end travel experiences for our customers, and paying for their trip is part of the experience. We are delighted to work with hoolah and 2C2P to offer flexible payment choices to our customers so they can continue to Fly Confidently and shop seamlessly at Journify while enjoying interest-free BNPL convenience,” said Lau Yin May, Group Chief Marketing and Customer Experience Officer of Malaysia Airlines.
According to an IDC report commissioned by 2C2P, BNPL will rise from 1% to 5% of the total e-commerce payments in Southeast Asia by 2025 and become a key payment method shaping the region’s digital commerce landscape.