by BERNAMA / pic by ARIF KARTONO
KUALA LUMPUR – Malaysia’s home-grown start-up financial technology (fintech) company, Kale (Technology) Sdn Bhd (Kale Tech) aims not only to help retailers by providing an alternative payment solution, but also to educate consumers on responsible spending.
Kale Tech is the creator of PAYLATER, a “buy now, pay later” app that allows users to shop for items and pay for them in instalments.
The company’s founder, Dexter Wong said consumers can pay for their purchases through four equal instalment payments, with zero per cent interest.
“During the pandemic period, they still need to buy their necessities, therefore our goal is to promote responsible spending.
“About 60 per cent of the purchases were for electronics and gadgets, 20 per cent were automotive accessories, 10 per cent fashion and apparel and the remaining were for other items,” he told Bernama.
To-date, more than 20,000 users have benefited from the PAYLATER app which has 150 participating retail merchants in 400 locations nationwide.
Users can use their credit cards and debit cards to pay for their purchases via the app, and it also allows for direct debit setup as well.
Moving forward, Wong said the company aims to have 250 retail merchants offering PAYLATER to consumers by year-end.
“Our aim is to have more local micro, small and medium enterprises (MSMEs) to join us as partner merchants to offer instalment payment plans to their customers,” he said, adding that this is one of the ways to help MSMEs to grow their businesses.
For more information, visit https://paylater.com.my/ or download the PAYLATER app via the Apple Store, Google Play store or the Huawei App Gallery.