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- Credit Intelligence (CI1) launches its buy now, pay later service in Hong Kong
- The online shopping platform will initially focus on the local market and offers products including home appliances, electronics, food and beverages
- The website is slated to enhance the company’s overall value by building a larger consumer database and improving gross merchandise value
- CI1 is aiming to expand the BNPL service into other Asian markets in the future
- Shares are trading 13.8 per cent up at 1.7 cents at 10:27 am AEST
Credit Intelligence (CI1) has kicked off the month of October with the launch of its buy now, pay later (BNPL) service in Hong Kong.
Shopping platform www.ekbuy.com.hk will initially focus on the local Hong Kong market and offers a wide range of consumer products, including home appliances, electronics, food, wine and other beverages.
CI1 said aside from its trading profit and BNPL service fee, the website would also enhance the company’s overall value by building a larger consumer database and improving gross merchandise value and cost efficiencies.
Notably, the platform specialises in branded consumer products from global suppliers and offers a flexible, interest-free BNPL experience.
Further, it carries low capital requirements for CI1 and a low operation cost with limited human resources and no warehouse required.
Credit Intelligence Chairman Jimmie Wong said the platform was a “breakthrough” for the company.
“There is no sizeable BNPL player in Hong Kong now,” he said.
“With good funding support, CI1 can grow our BNPL revenue very big within the next 24 months.”
He said the company would expand the service into other Asian markets when the time was right.
Shares are trading 13.8 per cent up at 1.7 cents at 10:27 am AEST.
