As part of its continued efforts in leading the region’s cashless revolution, ASEAN’s payment solutions provider, GHL Systems Berhad (GHL) has joined hands with Buy Now Pay Later (BNPL) player, Ablr, to offer enhanced payment solutions to the growing number of GHL merchants and consumers, providing even greater choice and flexibility when paying for goods and services.
By leveraging on Ablr’s white label proprietary platform, GHL will provide flexible payment terms in the market to deliver more financing options for its customers. Through this partnership, GHL’s merchant network is able to provide both Businesses and Consumers additional flexible payment options, without charging them any additional interest.
“This strategic collaboration between GHL and Ablr aims to deliver an enhanced payment experience that caters to both our merchants and consumers. With Ablr, our merchants will now have access to alternative payment methods which can scale their business by enabling bigger ticket purchases and build loyalty through value-added offers and deals,” said Sean Hesh, GHL Group CEO.
“This strategic partnership is an important milestone for Ablr’s efforts and commitment to Malaysia as an anchor for our regional expansion, and more importantly, for our mission to create honest and innovative financial products that help improve people’s lives. We are glad to have found a very forward-looking partner in GHL, who shares our ideals in driving financial inclusion with innovation. I am optimistic that this successful partnership will set a positive example for more collaborations with financial institutions and fintech providers as we advance our mission in Malaysia and the region,” said Ian Ow, Co-Founder and Group CEO of Ablr.
“We are excited to work hand-in-hand with GHL with our expertise – one that will translate into a frictionless merchant and consumer experience. Merchants and consumers are equally key when it comes to new payment offerings and together with GHL, we are building the infrastructure to support merchants’ growth and address the needs of tech-savvy consumers,” said Amanda Chin, Co-Founder and CEO of Ablr Malaysia.
Widespread customer adoption, new regulations and a five-year national digitalisation plan has pushed Malaysia’s fintech sector to grow by 27% in 2021 to 294 fintech companies. Payments still maintains the lead as the largest fintech segment in the industry, followed by lending, ewallets and insurtech. BNPL is another segment that witnessed strong traction in 2021 and is projected to grow by 109.5% on an annual basis.
26 August 2022