Surging Consumer base: With increasing participation from fintech companies in BNPL ground, its user base is making equally big strides. A major chunk of Saudi Arabian consumers has used BNPL payment methods such as Tamara in 2021 when compared to previous years, with more customers exploring the BNPL services. In just one year, the Middle East region has witnessed an upsurge in the number of companies offering BNPL solutions.
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Growing Retailers: With the diminishing Covid-19 impact, the return of the offline shopping mode is being witnessed. BNPL players are not going to let the opportunity pass by. They have already started collaborating with leading retailers to offer BNPL at physical stores at checkout points as a point-of-sale financing tool. The growing e-commerce market has pushed retailers to go for a different mode of user-friendly payment mechanisms.
Expanding Partnerships: BNPL entities are making their mark by creating value for merchants and offering straightforward financial products to customers. BNPL giant Tamara works with global retail leaders like Adidas, IKEA, L’Occitane, as well as top regional brands like Namshi, Abyat, Faces, Niceone, and, across the GCC. In just one year, the Middle East region has witnessed an upsurge in the number of companies offering BNPL solutions.
Moving to easy cashless credit: Increasing adoption of a cashless society with the emergence of digital payments fueled by surging working age class will derive the traction of the BNPL industry among the users in KSA. The increasing demand for extra credit line with less stringent KYC procedures without relying on CIBIL scores will be traction for consumers for utilization of BNPL services.
The Report “KSA Buy Now Pay Later Market Outlook to 2027- Driven by digitalization, government support as a part of Saudi vision 2030 increasing Genz & millennials population due to influx of expatriates coupled with shifting preference towards easy interest free extra credit line sources” by Ken Research provides a comprehensive analysis of the potential Buy Now Pay Later industry in Saudi Arabia. People shifting from credit cards to BNPL as unlike credit cards, BNPL companies provide easy credit checks which are solely not based upon the CIBIL score, hence providing easy access to the services. Buy Now Pay Later Market in KSA recorded a positive CAGR on the basis of revenue generated in between 2022P and 2027E.
Key Segments Covered:-
KSA BNPL Market
By mode of payment
OnlineOfflineBy end user
Ecommerce GiantPhysical RetailersTravel and entertainment MerchantsFood MerchantsBy age group
Below 2424-3636-50Above 50Key Target Audience:-
Fintech CompaniesBNPL playersRetail merchants and chainsGovernment and regulatory bodiesNew entrants in the BNPL spaceAssociated or affiliated Banks with Insurance entitiesTime Period Captured in the Report:-
Historical Year: 2019-2021Base Year: 2022Forecast Period: 2023– 2027FVisit this Link:- Request for custom report
Companies Covered:-
TabbySpotiiTamaraCashewPostPayKey Topics Covered in the Report:-
BNPL Industry positioningSocio demographic Outlook of Saudi ArabiaPresence of Global BNPL PlayersTrends of BPNL IndustryMarket size of BPNLBNPL transaction processKey Features and developments in KSA BPNLSWOT Analysis of KSA BNPLIssues and Challenges in KSA BNPLInvestment Analysis of players in BNPL SpaceRole of Government and regulations in KSA BNPLPorter’s Five force Analysis in KSA BPNLFuture Market Size of BNPL in KSAFor more insights on the market intelligence, refer to below link:-
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UAE Buy Now Pay Later Industry Outlook to 2027
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