Retailers, let's face the challenges
of innovation together

“Buy Now Pay Later” by Alibaba, the latest top trend in Asia

Céline Delacharlerie
2 minutes

More affordable and less intimidating than credit cards, deferred payment solutions bring instant gratification to consumers and are therefore growing in popularity in Asia, especially among young people.

Alibaba was a pioneer in this market in Asia. Its payment application, Alipay, has been offering its users micro-loans for consumption since 2015 and its e-commerce platform in South East Asia, Lazada has also launched into BNPL (Buy Now Pay Later).

Immediate gratification for the consumer

Alibaba has more recently set out to conquer micro-credit in Southeast Asia via the Lazada marketplace, present in 6 countries.

Lazada has launched a BNPL (Buy Now Pay Later) service in partnership with banks. Through this system, the customer pays for his order in monthly installments for 6 or 12 months, with an interest rate of 0%. In Singapore, 1.1 million people have used the BNPL system, representing 38% of the population.

Focus on payment by monthly installments at Lazada

First Step

Of course, first you have to open the Lazada app and search for the product you want to buy. Let’s take for example a user looking for a Lenovo branded computer and who finds one costing 17% less than its usual price.

Connexion à Lanzada     Selection du produit    Je choisis mon produit


Step two: Explore the various payment methods

After clicking on “Buy Now”, you must choose your delivery method and your payment method. Among the options, you can choose a monthly installment option that works with the credit card of OCBC bank, one of the major banks in Singapore. The service was once available to customers of rival DBS but the service was suspended in September. The option is only possible for purchases between S$200 and S$20,000.

paiement step 1          Paiement step 2


Step 3: Select the payment schedule

You have two options: pay in 6 months or pay in 12 months. The interest rate is 0% so you will pay the same amount whether in one installment or in 6 months.

etape 3


Step 4 : Fill in your credit card information

Now all you have to do is enter your OCBC credit card information to be able to pay in monthly installments.

If all the information is correct, you will be debited monthly for the agreed amount for the agreed number of months.

Easy as pie !

Final step

To see the steps more closely

Céline Delacharlerie
Celine is the correspondent of the Echangeur in China. On the lookout for retail innovations, she identifies and analyzes the latest retail and consumer trends in Asia.
Back to the top

Recommended posts