The Buy Now, Pay Later (BNPL) platform is an extended payment gateway integrating with the OneStep fintech and AI platform that allows small and medium enterprises (SMEs) in Hong Kong to settle their on-demand corporate and utility bills by one-stop service and increases flexible cash flow through deferred payment and/or by instalments.

Any on-demand corporate and utility bills requested by the clients could be processed immediately for settlement through the OneStep BNPL Payment Solution Platform. A one-time registration fee and a monthly handling fee with a minimum charge. The settlement of the paid bills would be due on the pre-determined schedule selected by the clients. Under the BNPL settlement schedules, the clients could choose either 3 months, 6 months or 12 months for settlement.

Apart from the traditional risk control process, default risk can be minimized by analyzing big data of over 20,000 existing clients on their background information, spending and payment pattern and bills and settlement historical record through the AI system.

The OneStep BNPL platform will encompass an application programming interface to link with third-party platforms in the future to assist their users to settle payments and purchases. These services could be further developed to implement in different jurisdictions such as Australia, the United Kingdom, Singapore and Malaysia.