Just lately I noticed there is 0% Interest with 3 installment payments with Atome and have started using it for several purchases. It's not only 0% interest that is the advantage but there is a further discount with RM15 voucher for first user, something like that, and collection of points with purchases made via Atome where the points can be used to further reduce the price of the item that is purchased later.

I wonder if this is the end of credit card era where banks charge interest with instalment plans? What is the catch with the 0% interest free plans offered by Atome which I may not be aware of? It may be limited to 3 payments for 3 months but still, it should be good enough for most people. There will be interest charged for longer instalments with Atome as interest will be charged for 6 payments.

No catch. Retailers/merchants saw a good surge on the volume of product/service sales. Hence they were willing to pay atome service a certain % from their product/service price.

Of course bank dont like that. As you are not swiping their credit cards and the potential interest they earn from you paying minimum or partial every month…

Its reducing the banks profit margin forecast…

Hence the crazy lobbying to politicians currently to limit paylater service to public…

Perhaps I've written wrongly. What I meant was choosing Atome or other platform to make 0% instalment payments when payment with credit card (certain banks) is not available or not offered by the merchant.

they make money by catching u forgot to pay.
cuz unlike credit card, where u get a statement via email, or sms reminder, atome dont do that.
when shopee pay later just launched, i tried it out. to my surprise, it says due date on 1st Nov for example, & on 1st Nov, it already charge me RM10 late fee.
i was not satisfied & argued that 1st Nov due date means 1st is the last day to pay without penalty. that's how bank repayment works.

also, for just 3 months, they are not really losing much interest compared to the shops they attract to platform.
it also encourage people who cant afford the item to spend more.

I always pay shopee paylater on due date n there is no late fee.

What I meant was using Atome for the 0% interest free instalment payments as the option it's not available with certain merchants and banks. I have not used my credit card for 0% instalment free plans.

Is Atome available at every merhant?

Is Atome available at every merhant?

u still need to remember....not all shop offer atome payment....