Atome Buy Now Pay Later App in Philippines: Is It Legit?

Atome app review in the Philippines: image of women scrolling on a moble app

Online shopping is booming in the Philippines as more Filipinos flock to e-commerce for a wide range of products and services.

As of March 2023, there are 74.91 million monthly online shoppers, most of whom shop for electronics, personal care, and household goods.

With this trend, new payment alternatives such as Atome have emerged.

Atome is a mobile app that lets users buy now and pay later for the items they buy from different local merchants and brands.

In this article, you will learn more about Atome and how it works. Find out the pros and cons of using it, if it’s legitimate, and most of all, if it can help you manage your money when you shop virtually.

What is Atome Buy Now Pay Later app?

Atome is a Buy Now Pay Later mobile app that lets you split bills into three equal payments over three months. It’s free to download and use with no interest or service fees. It also comes with an Atome card with no annual fees, pay later feature at 0% interest of up to 40 days, and flexible installment plans with interest of up to six months.

Most major retail stores and merchants in the Philippines, including department stores, fashion brands, and trusted electronic outlets accept it as a mode of payment.

Atome partners with 50+ online and offline retail stores and services by Agoda and Klook to bring you convenient payment options.

How does Atome app work?

To shop online with Atome, select Atome during checkout if you’re shopping online, or scan the Atome QR code at the cashier if you’re at a participating offline store.

You pay one-third of the total bill on the spot, the second payment will be due 30 days later, and the third the following month.

For example, if the total amount is ₱12,000, you will pay ₱4,000 on the spot, and then the next ₱4,000 is due 30 days after. The last ₱4,000 the following month.

You can also stretch the payment terms to six and nine months, but Atome will charge additional interest and fees.

How to register on the Atome app

Image of Atome Philippine website

You need to be at least 18 years old to use the service. The credit card or debit card you should connect to the account must be Philippine-based.

Follow the steps below to use the Atome app:

  1. Download the Atome app on App Store or Google Play Store.
  2. Sign up with your mobile number, and complete the OTP verification.
  3. You will also be required to take a selfie of yourself as part of the verification process.
  4. Complete your personal information and connect your debit or credit card.

Pros and cons of using the Atome Buy Now Pay Later App

Atome’s offerings are tempting for anyone looking to stretch their payment terms when shopping online. But it has its pros and drawbacks we need to look into.

Pros in using Atome app

  • Flexible installment plans — Atome allows users to split their payments into three equal installments for three months. This feature provides users with financial flexibility and makes it easier for them to manage their expenses.
  • Fast online application — Atome’s online application process is fast and easy. Users can apply for an account in 90 seconds and get approved in two days.
  • No minimum income required — Atome does not need a minimum income for users to apply for an account. This feature makes it accessible to a wider range of users.
  • Interest-free payments — Atome charges zero interest and zero service fees as long as users pay their bills on time within three months. This feature allows users to make purchases without incurring additional charges.

Cons in using Atome app

  • Surprise administration fee — Atome charges a one-time ₱300 administration fee if users pay late. Some users have reported that the app is not always reliable, so planning purchases ahead of time is essential.
  • Encourage impulse buying and overspending — since customers can easily avail of installment plans without fully considering their financial capabilities.
  • Misleading marketing tactics — if you’re not careful in reading the terms and conditions, you might miss critical information about payment terms, additional charges and fees if you exceed three months payment terms.

Is Atome Buy Now Pay Later App legal in the Philippines

Yes, it’s also registered by Neuroncredit Financing Company Inc in Security Exchange Commission.

Atome and Suyen Corp. have partnered to provide flexible zero-interest payment options across 20 brands in the Philippines. Atome has also introduced the Atome Card in partnership with Mastercard.

Therefore, the Atome Buy Now Pay Later app is legal in the Philippines.

Alternatives to Atome Buy Now Pay Later App

If Atome’s offers are not enough, you can always check other options — Buy Now Pay Later apps that let you shop online with flexible payment terms.

1. BillEase

BillEase is a buy now, pay later mobile app that offers instant credit up to ₱40,000, which you can use for online shopping without a credit card or get a personal loan with payback options from 30 days or up to 12 months.

BillEase charges an interest rate of 3.49% monthly and offers 0% APR on select merchants when you sign up. The app is available on both iOS and Android devices.

2. Home Credit Philippines

Home Credit Philippines offers 0% interest installment loans and quick cash loans. With Home Credit, you can purchase your needs in pay later in monthly installments, all in one transaction.

This Atome app alternative has partnered with over 100 trusted brands in partner stores near you. You can repay loan amounts over the counter or via your bank account.

3. Plentina

Plentina is a Buy Now, Pay Later startup that offers installment loans that can be used and repaid through e-wallets. It provides a loan app that allows users to make purchases on credit and pay for them later.

This platform integrates tightly with partners Smart and 7-Eleven, allowing users to make cashless purchases and buy load and other items. Depending on the repayment period, it charges a service fee of 5% to 14%. The app is available on both iOS and Android devices.

These Atome app alternatives have partnered with local merchants, which makes it easier for you to purchase items online. Make sure the charges are also reasonable if you stretch out your payments longer than three or four months.

Final thoughts

While the Atome Buy Now Pay Later App Philippines is a convenient and attractive option for those looking to spread out payments over time, it does come with significant risk if not used mindfully.

Since you’ll be able to spread out your payments in three months if you lack control when shopping, you might end up overspending.

Therefore, it may be wise to research other reputable alternatives, including credit cards with zero installment options, if you seek to manage payments for more than six months.

Have you tried using the Atome app? What do you think? Leave your thoughts in the comments below – we would love to hear them.