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Report Description

According to PayNXT360’s Q4 2021 BNPL Survey, BNPL payment in Malaysia is expected to grow by 109.5% on annual basis to reach US$ 601.2 million in 2022.

Medium to long term growth story of BNPL industry in Malaysia remains strong. The BNPL payment adoption is expected to grow steadily over the forecast period, recording a CAGR of 49.0% during 2022-2028. The BNPL Gross Merchandise Value in the country will increase from US$ 287.0 million in 2021 to reach US$ 6588.3 million by 2028.

PayNXT360 expects the BNPL market to continue its upward trajectory over the next four to eight quarters, as the demand for deferred payment services is expected to increase among both merchants as well as consumers in the country. Moreover, with the medium to long-term growth story of the country remaining strong, PayNXT360 expects more global firms to expand their footprint in the Malaysian BNPL industry.

Banks are building strategic partnerships with BNPL companies to offer pay later options in Malaysia

With traditional banks losing ground to pureplay BNPL firms in the country, banking players have started to forge strategic alliances with BNPL players to offer their own BNPL service on credit cards. For instance,

• In November 2021, Standard Chartered Bank entered into a strategic partnership with Indian Fintech firm Pine Labs, which launched the BNPL service in Malaysia in March 2021. Under the strategic collaboration, both the firms will offer a BNPL service that includes 0% installments on credit cards at more than 25,000 retailers equipped with Pine Labs point of sale machines across the country.
• In another similar partnership with Citi Malaysia, Pine Labs launched a BNPL feature that allows Citi’s credit cardholders to split their purchases into affordable monthly installments at zero interest. Moreover, the BNPL transactions using the Citi credit card will allow cardholders to earn reward points, cash back, or premier miles through the 0% Easy Pay Plan.

Insurance platforms in Malaysia are offering BNPL services to increase market share

The use of deferred payment services is growing across sectors. From fashion to electronics, travel, and now insurance, the demand is only increasing among consumers. As a result, businesses across different industry verticals are launching the BNPL payment method. For instance,

• In October 2021, Bjak, the insurance platform in Malaysia, announced that the firm is offering BNPL payment options. The firm that has 15 insurance brands on its platform announced that the BNPL payment method would allow car and motorcycle owners to split their insurance renewal payments into three equal, zero-interest payments. For launching the BNPL payment method for its customers in Malaysia, the firm has partnered with Atome.
PayNXT360 expects more businesses across industry verticals to launch the BNPL payment method for their customers over the next four to eight quarters, as the demand among consumers continues to grow in Malaysia.

Global BNPL firms are planning to launch their services in Malaysia in 2022

The Malaysian BNPL industry has become one of the most attractive markets in the Southeast Asian region. Consequently, global BNPL platforms are considering to extend their product offerings for consumers in the country. For instance,

• In December 2021, Australia-based BNPL platform, Latitude, announced that the firm is considering expansion of its product offerings to consumers in Malaysia. The announcement from the firm comes at the time when Latitude is projecting that the in-store and online payments in key Asian markets, including Malaysia, are expected to grow.
• In Singapore and Malaysia alone, the firm is expecting the BNPL market to grow significantly by 2025. In these two Southeast Asian countries, the firm is looking at the target market for bigger ticket installment plans. Notably, in New Zealand and Australia, the firm has partnered with 5,000 merchants.

Scope

This report provides in-depth, data-centric analysis of Buy Now Pay Later industry in Malaysia. Below is a summary of key market segments:
Malaysia BNPL Market Size and Spending Pattern
• Gross Merchandise Value Trend Analysis
• Average Value Per Transaction Trend Analysis
• Transaction Volume Trend Analysis
Malaysia 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 Bad Debt, 2019 – 2028
Malaysia Buy Now Pay Later Market Share Analysis by Key Players
Malaysia Buy Now Pay Later Spend Analysis by Channel: Market Size and Forecast
• Online Channel
• POS Channel
Malaysia 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
Malaysia 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
Malaysia 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
Malaysia 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
Malaysia 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
Malaysia Buy Now Pay Later Analysis by Consumer Attitude and Behaviour
• Buy Now Pay Later Sales Uplift by Product Category
• Buy Now Pay Later Spend Share by Age Group
• Buy Now Pay Later Gross Merchandise Share by Income
• Buy Now Pay Later Gross Merchandise Value Share by Gender
• Buy Now Pay Later Adoption Rationale Gross Merchandise Value 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.

• Market Share by Key Players

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目次

1. About this Report
1.1 Summary
1.2 Methodology
1.3 Disclaimer

2. Malaysia BNPL Market Size and Future Growth Dynamics
2.1 Consumer Behavior
2.2 Competitive Landscape and Growth Strategies
2.3 Market Share
2.4 Regulatory Trends

3. Malaysia Buy Now Pay Later Industry Attractiveness
3.1 Malaysia Buy Now Pay Later – Gross Merchandise Value Trend Analysis, 2019-2028
3.2 Malaysia Buy Now Pay Later – Average Value Per Transaction Trend Analysis, 2019-2028
3.3 Malaysia Buy Now Pay Later – Transaction Volume Trend Analysis, 2019-2028

4. Malaysia Buy Now Pay Later Operational KPIs
4.1 Buy Now Pay Later Revenues, 2019 – 2028
4.2 Buy Now Pay Later Share by Revenue Segments
4.3 Buy Now Pay Later Merchant Commission, 2019 – 2028
4.4 Buy Now Pay Later Missed Payment Fee Revenue, 2019 – 2028
4.5 Buy Now Pay Later Pay Now & Other Income, 2019 – 2028
4.6 Buy Now Pay Later Accounts, 2019 – 2028
4.7 Buy Now Pay Later Bad Debt, 2019 – 2028

5. Malaysia Buy Now Pay Later Spend Analysis by Channel
5.1 Buy Now Pay Later Market Share by Channel, 2019 – 2028
5.2 Buy Now Pay Later Online Channel Market Size and Forecast, 2019 – 2028
5.3 Buy Now Pay Later POS Channel Market Size and Forecast, 2019 – 2028

6. Malaysia Buy Now Pay Later Snapshot by End-Use Sector
6.1 Buy Now Pay Later Market Share by End-Use Sector – Emerging Avenues and Future Growth Prospects
6.2 Buy Now Pay Later Sales Uplift by End-Use Sector
6.3 Buy Now Pay Later Share by Retail Product Category

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

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

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

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

11. Malaysia Buy Now Pay Later in Other Segment: Market Size and Forecast, 2019 – 2028
11.1 Malaysia Buy Now Pay Later Other Segment – Gross Merchandise Value Trend Analysis, 2019-2028
11.2 Malaysia Buy Now Pay Later Other Segment – Average Value Per Transaction Trend Analysis, 2019-2028
11.3 Malaysia Buy Now Pay Later Other Segment – Transaction Volume Trend Analysis, 2019-2028

12. Malaysia Buy Now Pay Later Analysis by Consumer Attitude and Behaviour
12.1 Buy Now Pay Later Spend Share by Age Group
12.2 Buy Now Pay Later Gross Merchandise Share by Income
12.3 Buy Now Pay Later Gross Merchandise Value Share by Gender
12.4 Buy Now Pay Later Adoption Rationale

13. Further Reading
13.1 About PayNXT360
13.2 Related Research