UAE Buy Now Pay Later Market Report 2021: BNPL Payments are Expected to Grow by 71.5%, to Reach $697.1 Million in 2021 - ResearchAndMarkets.com

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DUBLIN, October 22, 2021--(BUSINESS WIRE)--The "UAE Buy Now Pay Later Business and Investment Opportunities (2019-2028) - 75+ KPIs on Buy Now Pay Later Trends by End-Use Sectors, Operational KPIs, Market Share, Retail Product Dynamics, and Consumer Demographics" report has been added to ResearchAndMarkets.com's offering.

According to the Q2 2021 BNPL Survey, BNPL payment in the country is expected to grow by 71.5% on annual basis to reach US$ 697.1 million in 2021.

The buy now, pay later (BNPL) trend is picking pace in the UAE as more financial technology platforms align with retailers to make shopping convenient and more accessible in these cost-conscious times. Apart from the surge in e-commerce shopping, the BNPL movement has become the most significant retail trend that the local retail sector has witnessed since the onset of the global pandemic.

Apart from BNPL's offering on e-commerce stores, investors believe the physical point of sale will play a crucial role in the future of BNPL in the UAE. As the global pandemic impact diminishes, BNPL firms are expected to take more business at the shop in the country.

In recent years, all of the BNPL platforms operating in the United Arab Emirates have entered the deferred payment industry. Consequently, the BNPL industry is still in its early stages of development in the country. Some of the key BNPL platforms that offer consumers the deferred payment option in the UAE include Tabby, Tamara, Spotti, Rise, Postpay, Cashew, and Aramex Smart.

These startups are targeting consumers in different sectors. For instance, UAE-based Tabby offers BNPL services in the fashion and home category, Rise offers BNPL products in the electronics and migrant banking category. In contrast, Spotti allows consumers to make deferred payments in the fashion and beauty categories, and Postpay offers consumers the BNPL service in the travel and health and fitness categories. Notably, Saudi Arabia-based BNPL service, Tamara, allows consumers to make deferred payments in the fashion and beauty category.

Medium to long term growth story of BNPL industry in United Arab Emirates remains strong. The BNPL payment adoption is expected to grow steadily over the forecast period, recording a CAGR of 31.8% during 2021-2028. The BNPL Gross Merchandise Value in the country will increase from US$ 333.9 million in 2020 to reach US$ 4032.5 million by 2028.

Scope

UAE BNPL Market Size and Spending Pattern

  • Gross Merchandise Value Trend Analysis

  • Average Value Per Transaction Trend Analysis

  • Transaction Volume Trend Analysis

UAE Buy Now Pay Later Market Share Analysis by Key Players

  • Tabby

  • Spotti

  • postpay

  • Tamara

  • Cashew Payments

  • Aramex Smart

  • Rise

  • Afterpay

UAE Buy Now Pay Later Spend Analysis by Channel: Market Size and Forecast

  • Online Channel

  • POS Channel

UAE 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

UAE 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

UAE 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

UAE 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

UAE Buy Now Pay Later in Education: Market Size and Forecast

  • Gross Merchandise Value Trend Analysis

  • Average Value Per Transaction Trend Analysis

  • Transaction Volume Trend Analysis

UAE Buy Now Pay Later in Automotive: Market Size and Forecast

  • Gross Merchandise Value Trend Analysis

  • Average Value Per Transaction Trend Analysis

  • Transaction Volume Trend Analysis

UAE 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

For more information about this report visit https://www.researchandmarkets.com/r/3zo6o2

View source version on businesswire.com: https://www.businesswire.com/news/home/20211022005164/en/

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