Summary

Report Description

BNPL payment industry in Asia Pacific has recorded strong growth over the last four quarters, supported by increased ecommerce penetration along with impact of economic slowdown due to disruption caused by Covid-19 outbreak.

According to PayNXT360’s Q4 2021 BNPL Survey, BNPL payment industry in the region is expected to grow by 61.5% on annual basis to reach US$ 133696.8 million in 2022.

Medium to long term growth story of BNPL industry in Asia Pacific remains strong. The BNPL payment adoption is expected to grow steadily over the forecast period, recording a CAGR of 33.3% during 2022-2028. The BNPL Gross Merchandise Value in the country will increase from US$ 82806.9 million in 2021 to reach US$ 749226.9 million by 2028.

The buy now, pay later (BNPL) market in the Asia-Pacific region recorded significant growth in the last four to six quarters. Asia is home to the leading BNPL companies in the world. Countries such as Australia, India, China, Singapore, Indonesia, and Malaysia recorded strong demand for BNPL payment options in this period. A large young population is primarily driving the demand and market growth. PayNXT360 expects that with the rising demand for BNPL, the region will likely attract more investment in the short to medium-term perspective.

Australia is one of the leading BNPL market in this region. As more and more consumers are inclining towards BNPL services primarily due to interest-free deferred payment solutions, the market recorded significant growth in the country. With a favorable regulatory framework and the presence of the world’s leading BNPL companies, the sector is expected to attract more investment opportunities in the short to medium term.

PayNXT360 expects more B2B integrations and niche-focused BNPL offerings in the next four to six quarters. For instance, BNPL installment payment solutions for the healthcare industry to rise significantly. While there is still plenty of room for both established and emerging BNPL providers in the region, any change in the regulation is expected to impact the exponential growth that the segment experienced over the last few years.

Australian BNPL companies continue global expansion through strategic investments and partnerships

The global BNPL market is expected to grow significantly over the next four to eight quarters. To capitalize on this growing global market opportunity, Australia-based BNPL players are expanding their footprint internationally. For instance,

• In September 2021, Zip announced that the firm is investing US$50 million to acquire a minority stake in the India-based BNPL platform, ZestMoney. This strategic investment in ZestMoney is part of its plans to tap into new growth markets. India has a large young consumer base who are gravitating increasingly towards cashless payment solutions. Consequently, there is significant growth potential in the e-commerce and BNPL space.
• In December 2021, Latitude announced that the firm is looking to enter into a strategic partnership with Harvey Norman in Singapore, one of the leading retailers, to spearhead its launch in the rapidly growing Southeast Asian BNPL market. The Australia-based BNPL platform is looking to differentiate itself in Asia by expanding its services for bigger ticket BNPL in 2022.

BNPL platforms are launching innovative features to offer value-added services in Australia

As the competition in the BNPL space continues to intensify and grow in the country, firms are launching innovative features for their users to expand their value proposition. For instance,

• In November 2021, Afterpay Australia announced the launch of its new money and lifestyle app, Money by Afterpay, which is expected to provide over 3.6 million Afterpay users access to a brand-new money experience.
• The new approach to money brought innovated by Afterpay is expected to better resonate with Gen Z and millennials. Moreover, the new app will provide consumers with a host of different features that will allow them to look at their savings and spending all in one app.

PayNXT360 expects other BNPL platforms to also innovate with their feature offering over the next four to eight quarters, which will subsequently boost the popularity of BNPL products among consumers in Australia.

BNPL disbursals grow more than 100% during the festival season in India

Over the last four to eight quarters, BNPL platforms have experienced accelerated growth on the basis of widespread adoption. However, the market got a further boost during the festival season in the country, wherein several BNPL platforms reported over 100% growth in disbursals during Diwali 2021, compared to the year before. For instance,

• LazyPay, the BNPL product owned by PayU, experienced a credit demand increase of 300% over the last festive season in India. The firm mainly experienced demand in segments such as food and beverages, travel, and entertainment. Leading to November 2021, the firm also had an uptick of 70% in user acquisition over the last two months. With the firm facilitating five million transactions every month through its platform in 2021, LazyPay targets to acquire two million new consumers by the end of 2022.

Fundraising activities are rising in the Chinese BNPL market

With the expected growth in the Chinese BNPL sector over the next four to eight quarters, BNPL firms are raising funds to capitalize on the high growth potential and expanding market share. For instance,

• In December 2021, Ant Group-owned consumer finance arm announced that the firm is raising US$3.5 billion to boost its growth in the BNPL sector. Notably, the firm announced that the capital increase would allow it to advance more credit to consumers in the country over the next few quarters. This will subsequently assist the firm in further increasing its market share in the region.

PayNXT360 expects more BNPL firms to raise funding rounds in China over the next four to eight quarters, which will further intensify innovation and competition in the Chinese deferred payment industry from the short to medium-term perspective.

This title from PayNXT360 is a bundled offering, combining the following 12 reports:
1. Asia Pacific Buy Now Pay Later Insight Brief
2. Asia Pacific Buy Now Pay Later Business and Investment Opportunities (2019-2028) Databook
3. Australia Buy Now Pay Later Business and Investment Opportunities (2019-2028) Databook
4. China Buy Now Pay Later Business and Investment Opportunities (2019-2028) Databook
5. India Buy Now Pay Later Business and Investment Opportunities (2019-2028) Databook
6. Indonesia Buy Now Pay Later Business and Investment Opportunities (2019-2028) Databook
7. Japan Buy Now Pay Later Business and Investment Opportunities (2019-2028) Databook
8. Malaysia Buy Now Pay Later Business and Investment Opportunities (2019-2028) Databook
9. Philippines Buy Now Pay Later Business and Investment Opportunities (2019-2028) Databook
10. Singapore Buy Now Pay Later Business and Investment Opportunities (2019-2028) Databook
11. South Korea Buy Now Pay Later Business and Investment Opportunities (2019-2028) Databook
12. Thailand Buy Now Pay Later Business and Investment Opportunities (2019-2028) Databook

Scope

Country reports in this bundled offering provide in-depth analysis of Buy Now Pay Later industry. Below is a summary of key market segments:

BNPL Market Size and Spending Pattern
• Gross Merchandise Value Trend Analysis
• Average Value Per Transaction Trend Analysis
• Transaction Volume Trend Analysis

Buy Now Pay Later Operational KPIs
• Buy Now Pay Later Revenues, 2019 – 2028
• Buy Now Pay Later Share by Revenue Segments
• Buy Now Pay Later Merchant Commission, 2019 – 2028
• Buy Now Pay Later Missed Payment Fee Revenue, 2019 – 2028
• Buy Now Pay Later Pay Now & Other Income, 2019 – 2028
• Buy Now Pay Later Accounts, 2019 – 2028

Buy Now Pay Later Spend Analysis by Channel: Market Size and Forecast
• Online Channel
• POS Channel

Buy Now Pay Later in Retail Shopping: Market Size and Forecast
• Gross Merchandise Value Trend Analysis
• Average Value Per Transaction Trend Analysis
• Transaction Volume Trend Analysis

Buy Now Pay Later in Home Improvement: Market Size and Forecast
• Gross Merchandise Value Trend Analysis
• Average Value Per Transaction Trend Analysis
• Transaction Volume Trend Analysis

Buy Now Pay Later in Leisure & Entertainment: Market Size and Forecast
• Gross Merchandise Value Trend Analysis
• Average Value Per Transaction Trend Analysis
• Transaction Volume Trend Analysis

Buy Now Pay Later in Healthcare and Wellness: Market Size and Forecast
• Gross Merchandise Value Trend Analysis
• Average Value Per Transaction Trend Analysis
• Transaction Volume Trend Analysis

Buy Now Pay Later in Other: Market Size and Forecast
• Gross Merchandise Value Trend Analysis
• Average Value Per Transaction Trend Analysis
• Transaction Volume Trend Analysis

Reasons to buy

• In-depth Understanding of Buy Now Pay Later Market Dynamics: Understand market opportunities and key trends along with forecast (2019-2028). Understand market dynamics through essential KPIs such as Gross Merchandise Value, Volume, and Average Value Per Transaction.

• Insights into Opportunity by end-use sectors – Get market dynamics by end-use sectors to assess emerging opportunity across various end-use sectors.

• Develop Market Specific Strategies: Identify growth segments and target specific opportunities to formulate BNPL strategy; assess market specific key trends, drivers, and risks in the BNPL industry.

• Get Insights into Consumer Attitude and Behaviour: Drawing from proprietary survey results, this report identifies and interprets key Buy Now Pay Later KPIs, including spend by age, gender, and income level.

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Table of Contents

This title from PayNXT360 is a bundled offering, combining the following 12 reports:
1. Asia Pacific Buy Now Pay Later Insight Brief
2. Asia Pacific Buy Now Pay Later Business and Investment Opportunities (2019-2028) Databook
3. Australia Buy Now Pay Later Business and Investment Opportunities (2019-2028) Databook
4. China Buy Now Pay Later Business and Investment Opportunities (2019-2028) Databook
5. India Buy Now Pay Later Business and Investment Opportunities (2019-2028) Databook
6. Indonesia Buy Now Pay Later Business and Investment Opportunities (2019-2028) Databook
7. Japan Buy Now Pay Later Business and Investment Opportunities (2019-2028) Databook
8. Malaysia Buy Now Pay Later Business and Investment Opportunities (2019-2028) Databook
9. Philippines Buy Now Pay Later Business and Investment Opportunities (2019-2028) Databook
10. Singapore Buy Now Pay Later Business and Investment Opportunities (2019-2028) Databook
11. South Korea Buy Now Pay Later Business and Investment Opportunities (2019-2028) Databook
12. Thailand Buy Now Pay Later Business and Investment Opportunities (2019-2028) Databook

All regional, and country reports mentioned above will have analyst comments covering the following tables of contents:

1. About this Report
1.1 Summary
1.2 Scope
1.3 Methodology

2. Buy Now Pay Later Industry Attractiveness
2.1 Buy Now Pay Later – Gross Merchandise Value Trend Analysis, 2019-2028
2.2 Buy Now Pay Later – Average Value Per Transaction Trend Analysis, 2019-2028
2.3 Buy Now Pay Later – Transaction Volume Trend Analysis, 2019-2028
2.4 Buy Now Pay Later Market Share Analysis by Key Players

3. Buy Now Pay Later Operational KPIs
3.1 Buy Now Pay Later Revenues, 2019 – 2028
3.2 Buy Now Pay Later Share by Revenue Segments
3.3 Buy Now Pay Later Merchant Commission, 2019 – 2028
3.4 Buy Now Pay Later Missed Payment Fee Revenue, 2019 – 2028
3.5 Buy Now Pay Later Pay Now & Other Income, 2019 – 2028
3.6 Buy Now Pay Later Accounts, 2019 – 2028

4. Buy Now Pay Later Spend Analysis by Channel
4.1 Buy Now Pay Later Market Share by Channel, 2019 – 2028
4.2 Buy Now Pay Later Online Channel Market Size and Forecast, 2019 – 2028
4.3 Buy Now Pay Later POS Channel Market Size and Forecast, 2019 – 2028

5. Buy Now Pay Later Snapshot by End-Use Sector
5.1 Buy Now Pay Later Market Share by End-Use Sector – Emerging Avenues and Future Growth Prospects
5.2 Buy Now Pay Later Sales Uplift by End-Use Sector
5.3 Buy Now Pay Later Share by Retail Product Category

6. Buy Now Pay Later in Retail Shopping: Market Size and Forecast, 2019 – 2028
6.1 Buy Now Pay Later Retail Shopping – Gross Merchandise Value Trend Analysis, 2019-2028
6.2 Buy Now Pay Later Retail Shopping – Average Value Per Transaction Trend Analysis, 2019-2028
6.3 Buy Now Pay Later Retail Shopping – Transaction Volume Trend Analysis, 2019-2028

7. Buy Now Pay Later in Home Improvement: Market Size and Forecast, 2019 – 2028
7.1 Buy Now Pay Later Home Improvement – Gross Merchandise Value Trend Analysis, 2019-2028
7.2 Buy Now Pay Later Home Improvement – Average Value Per Transaction Trend Analysis, 2019-2028
7.3 Buy Now Pay Later Home Improvement – Transaction Volume Trend Analysis, 2019-2028

8. Buy Now Pay Later in Leisure & Entertainment: Market Size and Forecast, 2019 – 2028
8.1 Buy Now Pay Later Leisure & Entertainment – Gross Merchandise Value Trend Analysis, 2019-2028
8.2 Buy Now Pay Later Leisure & Entertainment – Average Value Per Transaction Trend Analysis, 2019-2028
8.3 Buy Now Pay Later Leisure & Entertainment – Transaction Volume Trend Analysis, 2019-2028

9. Buy Now Pay Later in Healthcare and Wellness: Market Size and Forecast, 2019 – 2028
9.1 Buy Now Pay Later Healthcare and Wellness – Gross Merchandise Value Trend Analysis, 2019-2028
9.2 Buy Now Pay Later Healthcare and Wellness – Average Value Per Transaction Trend Analysis, 2019-2028
9.3 Buy Now Pay Later Healthcare and Wellness – Transaction Volume Trend Analysis, 2019-2028

10. Buy Now Pay Later in Other Segment: Market Size and Forecast, 2019 – 2028
10.1 Buy Now Pay Later Other Segment – Gross Merchandise Value Trend Analysis, 2019-2028
10.2 Buy Now Pay Later Other Segment – Average Value Per Transaction Trend Analysis, 2019-2028
10.3 Buy Now Pay Later Other Segment – Transaction Volume Trend Analysis, 2019-2028

11. Further Reading
11.1 About PayNXT360
11.2 Related Research
11.3 PayNXT360 Knowledge Center