Ablr the latest to join Malaysia’s BNPL landscape

by AUFA MARDHIAH/ Pic courtesy of Ablr

FINTECH company — Ablr — is the latest to enter the Malaysian market under the buy now pay later (BNPL) space.

CEO Amanda Chin (picture) is positive about Ablr’s unique offering that covers life-fulfilling and life-enhancing products and services to meet the fast-evolving and discerning needs of Malaysians.

“More and more people are exploring new ways to pay that are convenient, safe, sustainable and more budget-friendly with great deals and together with our partners, we look forward to serving this untapped, underserved market for big-ticket essentials.

“With Ablr, consumers can now pay for their families’ healthcare treatments, their children’s online music classes or upskilling courses for themselves, home living equipment in building a cosier home to memorable travel experiences with easy, fixed monthly instalments, from 30 days up to 60 months, depending on the plans on offer by our growing list of merchants,” she said during the media briefing yesterday.

Established in 2017, Ablr’s platform provides the most flexible plans, as well as presents a different approach by embedding ethical financing through products and services geared towards self and family improvement, life-enhancement and life-enriching offerings.

Currently, the fintech company has already connected with over 30 brands in Malaysia and Singapore spanning over 250 merchant points.

On its growth plans, Chin said that the company’s focus is to grow partnerships to provide even more choice and convenience to Malaysian consumers while also enabling them to spend more responsibly and manage finances better in the palm of their hands.

“Gen Z and Millennials, especially, are the greatest users of BNPL and we see the demand for the type of products and services shifting as they become working individuals or progress in their careers.

“We want the products and services on Ablr and the merchants we onboard to reflect that shift and provide for meaningful, important offerings that add value throughout the different stages of their lifecycle,” she added.

As the new BNPL provider in Malaysia, the fintech company is in constant engagement with the Consumer Credit Oversight Board (CCOB) to look at how the company can support CCOB’s agenda; and believes that the company is able to lead discussions with CCOB with their consumer-centric stand.

“We essentially operate like a financial services company, although not regulated yet; hence having engagement with CCOB, we hope to be at least on par with the other financial services, as well as to support our financial service sustainably through positive behaviour to avoid propagating negative habits,” she added.

On the value proposition of the platform, Amanda is positive that Ablr’s business model which focuses on consumers is the main differentiator between the 15 current players in Malaysia. Security-wise, Ablr’s main priority is the frictionless experience.