Summary

Report Description

Global BNPL payment industry 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, Global BNPL payment industry is expected to grow by 60.7% on annual basis to reach US$ 409901.0 million in 2022.

Medium to long term growth story of the Global BNPL industry remains strong. The BNPL payment adoption is expected to grow steadily over the forecast period, recording a CAGR of 32.7% during 2022-2028. The BNPL Gross Merchandise Value in the country will increase from US$ 255147.1 million in 2021 to reach US$ 2240349.1 million by 2028.

The 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.

In Europe, buy now, pay later BNPL is becoming increasingly popular among consumers owing to the rise in consumer preference for deferred payment for online purchases. Consumers prefer BNPL due to the affordability and convenience it offers. BNPL, consumer credit, or after pay enables consumers to pay money only after meeting their expectations. Some key players offering BNPL service include Klarna, PayPal Credit, and Splitit in the region.

The adoption of the BNPL products and services has been on a constant rise in the Africa & Middle East region over the last four to eight quarters. Several startups and global BNPL players are offering their innovative products and deferred payment services for consumers in the region. Moreover, the adoption from merchants is also on the rise as more and more consumers are demanding the BNPL payment method for both in-store as well as online purchases.

The Latin American BNPL market has recorded substantial growth over the last four to eight quarters on the back of widespread adoption among both merchants and consumers. PayNXT360 expects the trend to continue from the short to medium-term perspective, as consumers from the informal economy are looking at the payment method to get access to credit.

Over the last four to eight quarters, the popularity of BNPL products has surged significantly in the United States. The global pandemic and the growing need for splitting the cost of purchases over a period of time has led to widespread adoption of BNPL products such as the one offered by Klarna, Afterpay, Affirm, and PayPal in the country. Moreover, the growth in volumes for these BNPL providers has been driven in part by the boom in online shopping during the global pandemic.

Leading BNPL players are redesigning their products to increase market share in the United States

As the competition continues to intensify in the United States BNPL market, providers are innovating with their product offering to offer more flexibility and gain increasing traction from consumers. For instance,

• In November 2021, Afterpay, one of the leading BNPL platforms, announced that the firm would introduce installment payment options for subscriptions in the United States. The company stated that users could use BNPL on entertainment subscriptions, gym memberships, and online services. The firm is expected to roll out the service in early 2022, starting first in the United States and Australia.
• Some of the initial merchants that are expected to offer the service include IPSY, BoxyCharm, Savage X Fenty, and Fabletics, among others. Apart from paying for subscriptions, the firm is enabling its offering to be used for preordered items, where the consumer can pay in four installments once the product is shipped. As of November 2021, Afterpay has partnered with 100,000 retailers and has nearly 10.5 million active users on its platform in the North American region, which also happens to be the largest region in terms of underlying sales.

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 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.

This title from PayNXT360 is a bundled offering, combining the following 22 reports:
1. Global Buy Now Pay Later Insight Brief
2. Global Buy Now Pay Later Business and Investment Opportunities (2019-2028) Databook
3. Argentina Buy Now Pay Later Business and Investment Opportunities (2019-2028) Databook
4. Australia Buy Now Pay Later Business and Investment Opportunities (2019-2028) Databook
5. Brazil Buy Now Pay Later Business and Investment Opportunities (2019-2028) Databook
6. Canada Buy Now Pay Later Business and Investment Opportunities (2019-2028) Databook
7. China Buy Now Pay Later Business and Investment Opportunities (2019-2028) Databook
8. France Buy Now Pay Later Business and Investment Opportunities (2019-2028) Databook
9. Germany Buy Now Pay Later Business and Investment Opportunities (2019-2028) Databook
10. India Buy Now Pay Later Business and Investment Opportunities (2019-2028) Databook
11. Indonesia Buy Now Pay Later Business and Investment Opportunities (2019-2028) Databook
12. Italy Buy Now Pay Later Business and Investment Opportunities (2019-2028) Databook
13. Kenya Buy Now Pay Later Business and Investment Opportunities (2019-2028) Databook
14. Mexico Buy Now Pay Later Business and Investment Opportunities (2019-2028) Databook
15. Nigeria Buy Now Pay Later Business and Investment Opportunities (2019-2028) Databook
16. Philippines Buy Now Pay Later Business and Investment Opportunities (2019-2028) Databook
17. Russia Buy Now Pay Later Business and Investment Opportunities (2019-2028) Databook
18. South Africa Buy Now Pay Later Business and Investment Opportunities (2019-2028) Databook
19. Thailand Buy Now Pay Later Business and Investment Opportunities (2019-2028) Databook
20. United Arab Emirates Buy Now Pay Later Business and Investment Opportunities (2019-2028) Databook
21. United Kingdom Buy Now Pay Later Business and Investment Opportunities (2019-2028) Databook
22. United States 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 22 reports:
1. Global Buy Now Pay Later Insight Brief
2. Global Buy Now Pay Later Business and Investment Opportunities (2019-2028) Databook
3. Argentina Buy Now Pay Later Business and Investment Opportunities (2019-2028) Databook
4. Australia Buy Now Pay Later Business and Investment Opportunities (2019-2028) Databook
5. Brazil Buy Now Pay Later Business and Investment Opportunities (2019-2028) Databook
6. Canada Buy Now Pay Later Business and Investment Opportunities (2019-2028) Databook
7. China Buy Now Pay Later Business and Investment Opportunities (2019-2028) Databook
8. France Buy Now Pay Later Business and Investment Opportunities (2019-2028) Databook
9. Germany Buy Now Pay Later Business and Investment Opportunities (2019-2028) Databook
10. India Buy Now Pay Later Business and Investment Opportunities (2019-2028) Databook
11. Indonesia Buy Now Pay Later Business and Investment Opportunities (2019-2028) Databook
12. Italy Buy Now Pay Later Business and Investment Opportunities (2019-2028) Databook
13. Kenya Buy Now Pay Later Business and Investment Opportunities (2019-2028) Databook
14. Mexico Buy Now Pay Later Business and Investment Opportunities (2019-2028) Databook
15. Nigeria Buy Now Pay Later Business and Investment Opportunities (2019-2028) Databook
16. Philippines Buy Now Pay Later Business and Investment Opportunities (2019-2028) Databook
17. Russia Buy Now Pay Later Business and Investment Opportunities (2019-2028) Databook
18. South Africa Buy Now Pay Later Business and Investment Opportunities (2019-2028) Databook
19. Thailand Buy Now Pay Later Business and Investment Opportunities (2019-2028) Databook
20. United Arab Emirates Buy Now Pay Later Business and Investment Opportunities (2019-2028) Databook
21. United Kingdom Buy Now Pay Later Business and Investment Opportunities (2019-2028) Databook
22. United States Buy Now Pay Later Business and Investment Opportunities (2019-2028) Databook

All Global, 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