BNPL

Singapore buy now, pay later (BNPL) integration platform Optty has said its services will now include the offerings of Pace, a Singapore FinTech, a press release said Wednesday (June 22).

The release said Pace acquired Rely, another BNPL platform, earlier this year. Rely was part of Optty’s ecosystem of BNPL partners.

Now, according to the release, Rely customers that were transitioned to Pace will be part of Optty as they were before.

The release said Optty is an independent platform, unusual for BNPL offerings, integrating numerous companies in the same place and allowing them to boost their sales and conversions, providing retailers a direct channel to numerous top providers.

“Pace is a new BNPL that is swiftly expanding across Asia-Pacific on a mission to build a better way to shop fueled by transparency, trust and technology that gives people the freedom to take charge of their finances,” said Natasha Zurnamer, CEO of Optty. “We are pleased to have integrated Pace into Optty. By doing so, we are empowering merchants across the region to rapidly add Pace for their shoppers and tap into our BNPL superhighway to revenue.”

See also: Optty Gets $9M to Launch BNPL Provider Platform

Optty has had some other news, including having raised $9 million for a new integration platform for retailers to offer numerous BNPL options, PYMNTS wrote.

In a press release, Optty said in April that the new platform would help make changes to “the fast-growing [BNPL] sector with transparency, simplicity and speed,” and would add more choices for customers.

The report notes that the point of all this is to cut down on startup costs, with many retailers integrating BNPL usually spending “about one week” on internal development. By contrast, Optty will be folded into an operation in “a few minutes.”

The report said this platform would be available for over 100 BNPL brands and wallets by 2023.

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NEW PYMNTS DATA: THE TAILORED SHOPPING EXPERIENCE STUDY – MAY 2022

About: PYMNTS’ survey of 2,094 consumers for The Tailored Shopping Experience report, a collaboration with Elastic Path, shows where merchants are getting it right and where they need to up their game to deliver a customized shopping experience.

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