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Pace acquires Rely, targets reopening sectors and Asia expansion

Jovi Ho
Jovi Ho5/12/2022 02:37 PM GMT+08  • 5 min read
Pace acquires Rely, targets reopening sectors and Asia expansion
Fuad: As Singapore reopens and its economy continues to recover, we expect to see the demand for BNPL to grow not just within the hospitality, travel and event sectors, but also as a payment option for F&B and other daily purchases. Photo: Albert Chua
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This time last year, Pace Enterprise was among the newest kids on the “buy now, pay later” (BNPL) block. The local fintech company had launched its BNPL solution in January 2021, nearly five years after competitor Rely.

Pace told The Edge Singapore that it had signed on more than 500 merchant partners since a soft launch in November 2020.

A year later, Pace has kept up with the market ⁠— and some more. On March 30, Pace announced the acquisition of Rely, Singapore’s first BNPL provider. This marked Asia’s first acquisition between BNPL operators.

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