KUALA LUMPUR, 4 April — Syariah-compliant payment gateway company Payhalal, in collaboration with Atome, is offering its merchants participation in their inaugural ‘i Buy Now Pay Later’ (iBNPL) shopping facility - a riba-free, zero per cent interest programme.

Merchants who sign up with PayHalal can now benefit from the programme as well as from thousands of Atome’s pre-approved consumers with a maximum MYR 5,000 spending limit.

In Islamic finance, riba refers to interest charged on loans or deposits.

Payhalal said the programme aspires to provide merchants with sustainable income by generating traffic into their “webstores” and storefronts with top brands such as Zurich Takaful, Celcom, Misz Nina, and Cattle Queen.


“The campaign has already kickstarted with special promotions offering the first 786 merchants free set-up for the PayHalal payment gateway, which has been pre-loaded with an approved iBNPL facility.

“Registration can be completed online in 30 minutes with immediate approval or with PayHalal’s on-ground roving team, which will be mobilised to assist offline merchants”, the two companies said in a joint statement.

PayHalal has forecast RM8.61 billion in payment processing volume and RM135 million in revenue within the next financial year with the booming demand for digital Islamic payment.


PayHalal director of Sales Azhani Azman said this program at the same time will propel Malaysian businesses to a new level as the feature offers great benefits to merchants and consumers.

“iBNPL offers merchants complete market access to shoppers looking to make the most of their budget,” she said in the same statement.

The iBNPL facility is now available at https://payhalal.my/ibnpl/.

Merchants need to submit the relevant documents, get approved as PayHalal’s official merchant and download the Atome app on Google Play Store and the Apple App Store. — Bernama