is seeing an average quarterly increase of 50% in number of users in all its Southeast Asian markets following the April/May 2021 launch of its Buy Now, Pay Later payment option, which is proving popular among 30-to-35-year-olds.from Southeast Asia per month, according to a 2021 Trender report.
“Customers need to be able to pay however they want, so we have significantly expanded the available payment options on Zalora to lower any barrier to purchase and facilitate the process,” said Paulo L. Campos III, Zalora Philippines CEO, in an e-mail to BusinessWorld. “These share gains will come at the expense of credit cards, bank transfers, cash on delivery, and prepaid cards, all of which will lose share through 2024,”In the Philippines, factors like the unequal penetration rate of bank cards hamper the adoption of contactless payment methods, said Mr. Campos, who added that many customers continue to prefer COD because it is risk-free.
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