Rely, a local fintech startup that offers shoppers a ‘Buy Now Pay Later’ service, announced today that it has entered a partnership with Qoo10 to provide shoppers with an innovative checkout method and greater flexibility over their purchases, which best suits the needs and lifestyle of younger shoppers in Singapore.
In light of this partnership, Qoo10 shoppers can enjoy checkout coupons when they choose Rely’s ‘Buy Now Pay Later’ service for their purchases. The first 500 shoppers will be able to receive a coupon that entitles them to S$10 off their purchases, with a minimum spending of $25. Qoo10 will also be rolling out more coupons over the month of May for their users who check out with Rely.
Qoo10 shoppers can check out with Rely by linking their Visa or Mastercard debit or credit card to their account, and enjoy Rely’s ‘Buy Now Pay Later’ service on Qoo10 instantly. With Rely, shoppers can enjoy their purchases without paying for the full sum upfront. Purchases are split into three equal monthly payments, and the initial payment is collected at checkout while the remaining sum is collected over the next two months.
With the Southeast Asian e-commerce industry set to exceed US$100 billion over the next couple of years, millennials are set to dominate the consumer markets and will be one of the major driving forces for growth in the industry. With over 200 million millennials in Southeast Asia, retailers must seek to improve their understanding of this generation and what they are looking for in their e-commerce experience in order to increase e-commerce adoption.
“Millennials will soon become the largest group of consumers with the biggest spending power in the region. To better serve these millennial shoppers, we must constantly innovate, improve and introduce new e-commerce experiences that cater towards the needs and lifestyle of this target group. We are delighted to work with Qoo10, the largest and fastest growing e-commerce platform in Singapore, and together, work towards driving the industry forward and shape the future of e-commerce retail,” says Mr. Hizam Ismail, CEO and Co-Founder of Rely.
The partnership between Qoo10 and Rely allows millennial shoppers to enjoy a new and innovative shopping experience that is closely tailored to their interest and lifestyle, allowing them to be effortlessly in control of their online spending.
“Qoo10’s core group of 22 – 35-year-old shoppers are always keeping their eyes peeled for more intelligent ways to spend their money. Our partnership with Rely establishes a mutually beneficial alliance that allows our savvy customers to better manage their expenses with cutting-edge solutions,” says Mr. John Kim, Group Leader of Affiliate Business, Qoo10 Singapore.
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