Bjak offers buy now, pay later for Auto insurance

Malaysia’s No.1 insurance platform, Bjak has launched a buy now, pay later (BNPL) payment option for car and motorcycle insurance renewals on 1 November 2021. Bjak is the first to provide a buy now, pay later option for 15 insurance brands in Malaysia.

The BNPL payment option enables car and motorcycle owners to split insurance payments into three equal, zero-interest payments.

“We are partnering with Atome, the leading BNPL provider in South East Asia to introduce a secure and flexible payment option for our customers. This partnership aims to make auto insurance renewal more accessible to the public especially during the post pandemic period,” Fatin Izzati, Vice President of Operations said.

All Bjak customers will be able to select the buy now, pay later option for their insurance and road tax renewal on Bjak’s website, with no minimum amount or supporting document required.

The first payment will be made at the point of purchase using debit or credit cards issued by any bank. The following two payments will be spread 30 days apart automatically without any fees or interest.

“Users can choose to split the payments into three months. 6-month and 12-month options will be enabled in the next release,” added Fatin.

“Consumers today expect a flexible, secure and seamless payment experience. We’re excited to partner with Malaysia’s leading auto insurance platform and enable vehicle owners greater flexibility and choice in how they want to pay for auto insurance over time,” said Trasy Lou- Walsh, General Manager of Atome Singapore and Malaysia.

In addition to the buy now, pay later payment option, Bjak offers five payment options on its platform, which include debit card, credit card, online banking, cash via 7-eleven and credit card instalment plan.

Car and motorcycle owners can enjoy the new payment option by requesting quotations on Bjak’s website today.