Ant Group continues to broaden its product offering in Asia, including a BNPL product in Hong Kong and small business loans in Singapore.
Ant Bank (Hong Kong) and AlipayHK are launching Ant Bank PayLater on AlipayHK in advance of Double 11 (China’s version of Black Friday) and the holiday shopping season.
When buying on AlipayHK’s network of merchants and the e-commerce site Taobao, users will have the option to pay in instalments.
Yvonne Leung, chief executive, Ant Bank (Hong Kong), says: “Through AlipayHK’s established, solid merchant network, our users can enjoy shopping with most of the local online merchants by choosing to pay in interest-free instalments.”
Separately, Ant Group’s newly created digital wholesale bank in Singapore, Anext, will begin issuing SME loans.
Small businesses may apply for loans ranging from $5,000 to $100,000 via partners IN Financial Technologies and Bizmann System.
