Gurugram, India, Sept. 12, 2022 (GLOBE NEWSWIRE) —
- BNPL generally is a risk to the bank card business sooner or later. Keeping in thoughts the low penetration of bank cards in UAE, and with FinTech gamers coming into into this house, there is a great distance to go for bank cards as properly.
- Going ahead, we are going to see a development in transaction values for each UPI and bank cards as individuals will shift away from money.
- FinTech has opened up new avenues for the credit score business to faucet into the big buyer base with out credit score historical past. FinTech has introduced in logical and revolutionary modifications that may assist the expansion of the credit score business.
Adoption of Cashless Society: The coronavirus pandemic has led to a rise in cashless transactions, thereby selling using playing cards (each credit score and debit). Due to decrease month-to-month incomes for a big stratum of the inhabitants in the course of the early days of the pandemic, demand for bank cards elevated. The demand for on-line funds is ever rising and repair suppliers are continually innovating themselves to supply rewarding companies to their customers. Consumers are closely counting on playing cards for making funds for his or her day-to-day necessities due to pace and comfort.
Rapid Urbanization: Increased revenue of individuals together with rising requirements of dwelling in city areas are propelling utilization of latest shopper services, main to elevated demand for contemporary merchandise specifically by the youth of the nation. Such demand has led to elevated common spend per card and variety of transactions.
Foray into the BNPL house: Traditional banks are already providing BNPL companies. Given the expansion of BNPL in UAE, particularly among the many millennial inhabitants, it is forecasted that different banks may also enterprise into this house. A variety of banks are already working on this house, they usually can associate with FinTechs so as to leverage their expertise and model worth together with the expertise, product choices and service provider attain of FinTechs.
Omnichannel ecosystem for credit score EMIs: The credit score EMI market has historically been dominated by offline retail. However, due to the present state of affairs, on-line shopping for is seeing better traction amongst prospects. Players on this sector want to focus extra on constructing the Omnichannel ecosystem to cater to each the offline and on-line market.
The publication titled “UAE Buy Now Pay Later Industry Outlook to 2027: Driven by adoption of cashless society, increasing Genz & millennials population coupled with shifting preference towards easy interest free extra credit line sources” offers a complete evaluation of the Buy Now Pay Later business in UAE. The report covers numerous facets together with BNPL business market measurement on the premise of income, variety of transactions and common order worth, market overview, Key Features and Development in UAE Buy Now Pay Later Market, How a Buy Now Pay Later Transaction Happen, ecosystem of entities within the UAE BNPL business, development drivers, restraints and challenges, main tendencies and developments, Overview of Global BNPL Industry, Presence of BNPL Players Across Globally, Disruptors of Credit card Globally, Porter’s Five Force Analysis of the UAE Buy Now Pay Later Market, Issues and Challenges within the UAE Buy Now Pay Later Market , SWOT Analysis, Role of Government and Regulations within the UAE Buy Now Pay Later Industry, and Impact of COVID-19. Insights on aggressive panorama of BNPL business, firm profile of main BNPL gamers working within the ecosystem on the premise of Operational and Financial Parameters, Company Overview, Business Strategy, Marketing Strategy, Recent Developments, Key Partnerships, Key Fitness Partners, Product Portfolio, Key collaboration, Cost Structure and Challenges is additionally lined within the report. The report additionally covers evaluation of demand facet on the premise of Adoption Rationale of Consumers in direction of Buy Now Pay Later Services, Cross Comparison of BNPL gamers on main choice making parameters for model choice, Consumer Persona Analysis. Further report additionally focuses on the UAE Buy Now Pay Later Market Segmentation by Mode of Payments (Online vs Offline), by Type of End User (Ecommerce Retail, Consumer Electronics, Food Aggregators and Travel Aggregators), By Geography (Dubai, Sharjah and Abu Dhabi), By Age Group of Consumers, (15-30 years, 30-40 years, 40-50 years, above 50 years). UAE BNPL Market report concludes with projections for the way forward for the business together with forecasted business measurement by income by 2027, and analysts’ tackle the long run highlighting the main alternatives.
Key Segments Covered in UAE Buy Now Pay Later Industry:-
UAE Buy Now Pay Later Market
By Mode of Payments
By Type of End User
- Ecommerce Retail,
- Consumer Electronics,
- Food Aggregators
- Travel Aggregators
By Geography
By Age Group of Consumers,
- 15-30 years
- 30-40 years
- 40-50 years
- Above 50 years
- Adoption Rationale of Consumers in direction of Buy Now Pay Later Services
- Cross Comparison of BNPL gamers on main decision-making parameters for model choice
- Consumer Persona Analysis
Time Period Captured within the Report:-
- Historical Period: 2019-2022
- Forecast Period: 2023-2027F
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UAE Buy Now Pay Later Industry Players/Ecosystem
BNPL Players (Supply Side)
- Tabby
- Tamara
- Spotii
- Aramex
- Afterpay
- Rise
- Cashew
- Postpay
- Souqalmal
Lifestyle Merchants (Demand Side)
- Amazon
- SHEIN
- The Body Shop
- Adidas
- Actan
- Swarovski Ebrahim Shop
- Babytonia
Food Merchants (Demand Side)
- Healthy life
- Golden Tamper
- Karam Alnakhil
- Mawared
Payment System Operators
- Simpl SamsungPay
- Apple Pay
- VISA
- Payit
- Mastercard
- Gpay
Regulators and Facilitators
- Dubai Financial Authority Services
- Financial Services Regulatory Authority
Key Topics Covered within the Report:-
- Overview of Global BNPL Industry
- Presence of BNPL Players Across Globally
- Disruptors of Credit card Globally
- Key Features and Development in UAE Buy Now Pay Later Market
- How a Buy Now Pay Later Transaction Happens
- Key Trends of UAE Buy Now Pay Later Industry
- Ecosystem of Major Entities in Buy Now Pay Later Industry in UAE
- Growth Drivers of UAE Buy Now Pay Later Market
- Porter’s Five Force Analysis of the UAE Buy Now Pay Later Market
- Trends and Developments in UAE Buy Now Pay Later Market
- Issues and Challenges within the UAE Buy Now Pay Later Market
- SWOT Analysis of UAE Buy Now Pay Later Market
- Role of Government and Regulations within the UAE Buy Now Pay Later Industry
- Impact of COVID-19
- Adoption Rationale of Consumers in direction of Buy Now Pay Later Services
- Cross Comparison of BNPL gamers on main choice making parameters for model choice
- Consumer Persona Analysis
- Investment Analysis of Major Players within the BNPL Space from 2016 to 2021
- UAE BNPL Market Sizing on the premise of variety of Number of transaction, income and common order worth.
- UAE BNPL Market Segmentation (By Mode of Payment, By Type of End User, By geography and by age group).
- Company profile of main BNPL gamers working within the ecosystem (Operational and Financial Parameters, Company Overview, Business Strategy, Marketing Strategy, Recent Developments, Key Partnerships, Key Fitness Partners, Product Portfolio, Key collaboration, Cost Structure and Challenges).
- Analyst Recommendations
- Industry Speaks
For extra data on the analysis report, refer to beneath hyperlink:-
UAE Buy Now Pay Later Industry Outlook
Related Reports:-
India Buy Now Pay Later Market Outlook to 2026: Cascading Growth pushed by one-click payment ease, unmatched expediency amongst lending options and freed from value deferment of funds, coupled with rising adoption by Merchant Payments due to improve in Customer Conversion and Sales Value
The report deep dives into the present BNPL Companies comparable to Lazypay,Simpl, Zest Money, Kreditbee, Cashe, ePayLater, Capital Float (Amazon Pay Later service supplier), Flipkart Paylater, Ola Money postpaid, Slice, Postpe, Dhani Onefreedom Card, overlaying the market share of such corporations within the BNPL Space in India , By Gross Merchandise Value (“GMV”) loaned to shoppers, income development of BNPL corporations from FY’19-FY’21, and in-depth examine of investments made to these gamers over the final 5 years, together with particulars of buyers, funding rounds and funding quantity. An intensive cross-comparative evaluation of BNPL corporations is included within the report throughout numerous parameters comparable to demand facet choice making (onboarding course of, buyer reward factors, buyer ache factors, model picture, and so on), aggressive evaluation (Unique Selling level, Lending companions, Merchant Partners, Average each day transactions.
Asia BNPL Cards Market Outlook to 2025 – By Commercial and Personal BNPL Cards; By Transactions at ATM and POS Terminals; by Total Cards in Circulation; Transaction Value and Volume by means of Issuers and Operators; and by Countries (Japan, South Korea, India, China, Indonesia, Philippines, Singapore and Others
The quickly rising digital funds business in Asia has scaled up quickly over the previous couple of years which has led to a rise in bank card utilization. The whole transaction worth showcased excessive development in Asia together with a CAGR of 14.2% for the interval 2013-2018. The rise of inexpensive smartphones and subsequent web and cell penetration has led to important development within the digital funds house. The individuals in these mature markets are conscious of digital funds and have steadily embraced non-cash strategies over the years. The whole variety of bank cards in circulation elevated at a CAGR of 12.9% throughout 2013-2018. The present utilization of money in rising nations exceeds 90.0%. They have seen some traction in the previous couple of years, primarily due to cell and web penetration and a give attention to monetary inclusion by means of mobile-based companies. In many of the developed nations comparable to Singapore and Japan, greater than 80.0% of adults have entry to monetary companies. Regulators and governments of rising and creating nations can arrange a separate entity such because the National Payments Corporation of India (NPCI) to promote retail funds and additional improve the utilization and circulation of bank cards.
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