Even if online gambling could significantly boost its earnings, Singapore-based financial technology (fintech) firm Atome stands firm on giving no platform to e-gamblers as it eyes growing its client base to more than two million by year-end.

Christian Eugene Quiros, Atome president and country general manager for the Philippines, told Manila Bulletin last week that Atome, known for its buy now, pay later (BNPL) core business, has issued over one million cards since 2022 and is on track to hit two million by end-2025.

According to Quiros, Atome has grown by over 50 percent in both user base and transaction volume in the first semester of 2025, with the company confident of ending the year with around 60 to 70 percent growth in both areas.

“It continues to be profitable without even the gambling transactions. So, why still venture into it?” Quiros told Manila Bulletin.

“[Clients] cannot use the card for gambling. Even prior to the directive of the government, we didn’t allow it. As early as when we launched this card, we decided not to because gambling is not even an essential. We position our product to help them with their essentials,” he noted.

Quiros said that whenever Atome clients attempt to use its BNPL card in casinos, these transactions fail to go through.

As such, there was no surge in e-gambling activities linked to Atome when the Bangko Sentral ng Pilipinas (BSP) ordered e-wallets to unlink in-app online gambling platforms, a suspension that still stands as of writing. BSP Governor Eli M. Remolon Jr. earlier said this order made a major dent on the earnings of e-wallets given its contribution to their revenues.

Asked whether the firm plans to convert into an e-wallet, Quiros said that remains off the table.

“Right now, we don’t have plans yet to convert it to an e-wallet because an e-wallet requires another license. GCash is already there. It's so hard to compete with GCash. So, that’s why we want to play where we are strong,” Quiros said.

Atome’s flagship offering, the Pay Later Anywhere Card, is complemented by two digital loan products — Atome Cash, a cross-sell product for existing cardholders disbursed to bank accounts, and Lazada Cash, which is credited directly to Lazada wallets for BNPL users.

Besides Lazada, the fintech firm also runs a BNPL partnership with e-commerce superapp TikTok.

Atome allows customers to make purchases with up to 40 days of interest-free payments, after which they can either settle in full or convert transactions into installments. Installment rates range from 1.7 percent to six percent, based on risk profiling — responsible borrowers enjoy lower rates, while riskier clients are charged higher.

Transactions made through Atome’s Pay Later Anywhere card typically range from ₱500 to ₱850. Unlike banks, it caters mainly to the underserved and unbanked, offering smaller spending limits starting at ₱5,000 to manage risk and promote responsible borrowing, said Quiros.

Atome has no plans to raise its ₱200,000 spending limit, noting that most users transact at much smaller amounts for safety and responsible borrowing. Quiros reported that only a small fraction of its customers — less than one percent — reach this limit, while the average spending limit remains between ₱10,000 and ₱15,000.

Looking ahead, Atome is positioning itself as a future one-stop shop for financial services. Beyond its BNPL product, the firm now offers digital cash loans and a new savings product through a white-label bank partnership.

It also plans to expand into insurance, retail, dining, and other merchant categories, allowing customers to access multiple services directly through the Atome app.

Atome, which operates in five Asian markets, ranks the Philippines second after Indonesia, which offers a broader mix of services, including the Atome card and strong demand for digital loans.

Although Indonesia is currently Atome’s biggest market in the region, Quiros said the Philippines is catching up fast.

But despite his rosy outlook for the firm, Quiros said political destabilization in the local scene remains the biggest risk to its growth. In contrast, he noted that manageable inflation and steady economic growth provide support for further expansion.