UAE News
The concept
of delayed payment is not new. We all have credit cards, which de-facto are
‘Buy Now, Pay Later’ tools. Unfortunately, credit cards have remained unchanged
for the past 30 years, even though consumers developed an aversion to them
following the financial crisis and horror stories of extravagant interest
rates.
Less
Stringent Credit Checks: Stringent
credit checks on traditional credit lending means such as credit cards has
boosted fast adoption of BNPL as it doesn't come with as stringent with the
risk checks as does the traditional banks and credit card companies. Relying
less on the CIBIL score makes it easy for customers to get hold of extra credit
line in form of BNPL which is one the major traction for them.
Direct
Impact of E-Commerce on BNPL: E-Commerce had
anyway been on the rise, but COVID-19 propelled the industry ahead by a huge
margin. This has had a direct impact on the BNPL industry as a rise in the
E-Commerce industry led to consumers availing more of BNPL services.
Influx of
External Investments: BNPL players
in the UAE have only just entered the market and have cumulatively received
millions in funding. Australian BNPL giant ZIP recently acquired Spotii in a
multi-million-dollar deal. This is as part of ZIP's efforts to enter the MENA
region with regards to BNPL landscape.
COVID-19
Impact: Post COVID, technology,
inclusivity and digitalization by fintech players has been clearly observed,
thus providing a massive push to the industry in this regard. Changes in
lifestyle, fueled by government intervention and consumer expectations have
shot up BNPL industry drastically in the region. Cashless digital transactions
have become the new norm in the post-pandemic world.
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” provides a
comprehensive analysis of the Buy Now Pay Later industry in UAE. The report
covers various aspects including BNPL industry market size on the basis of
revenue, number of transactions and average order value, market overview, Key
Features and Development in UAE Buy Now Pay Later Market, How a Buy Now Pay
Later Transaction Happen, ecosystem of entities in the UAE BNPL industry,
growth drivers, restraints and challenges, major trends 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 in the UAE Buy Now Pay Later Market
, SWOT Analysis, Role of Government and Regulations in the UAE Buy Now Pay
Later Industry, and Impact of COVID-19. Insights on competitive landscape of
BNPL industry, company profile of major BNPL players operating in the ecosystem
on the basis 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 also covered in the report. The report also covers analysis of
demand side on the basis of Adoption Rationale of Consumers towards Buy Now Pay
Later Services ,Cross Comparison of BNPL players on major decision making
parameters for brand preference, Consumer Persona Analysis. Further report also
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 future of the industry including forecasted industry size by revenue by
2027, and analysts’ take on the future highlighting the major opportunities.
Request for Free Sample Report @ https://www.kenresearch.com/sample-report.php?Frmdetails=NTg4ODY3
Key Segments
Covered in UAE Buy Now Pay Later Industry
UAE Buy Now
Pay Later Market
- By Mode of Payments
- Online
- Offline
- By Type of End User
- Ecommerce Retail,
- Consumer Electronics,
- Food Aggregators
- Travel Aggregators
- By Geography
- Dubai,
- Sharjah
- Abu Dhabi
- By Age Group of Consumers,
- 15-30 years
- 30-40 years
- 40-50 years
- Above 50 years
- Adoption Rationale of Consumers towards Buy
Now Pay Later Services
- Cross Comparison of BNPL players on major
decision-making parameters for brand preference
- Consumer Persona Analysis
Time Period
Captured in the Report:
- Historical Period: 2019-2022
- Forecast Period: 2023-2027F
Buy
Now Pay Later Business Model
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 in the Report
- Overview of Global BNPL Industry
- Installment
Payment Service by BNPL Credit Card
- 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 in the UAE Buy Now Pay
Later Market
- SWOT Analysis of UAE Buy Now Pay Later Market
- Role of Government and Regulations in the UAE
Buy Now Pay Later Industry
- Impact of COVID-19
- Adoption Rationale of Consumers towards Buy
Now Pay Later Services
- Cross Comparison of BNPL players on major
decision making parameters for brand preference
- Consumer Persona Analysis
- Investment Analysis of Major Players in the
BNPL Space from 2016 to 2021
- UAE BNPL Market Sizing on the basis of number
of Number of transaction, revenue and average order value.
- UAE BNPL Market Segmentation (By Mode of
Payment, By Type of End User, By geography and by age group).
- Company profile of major BNPL players
operating in 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
Related
Reports
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Ken
Research
Ankur
Gupta, Head Marketing & Communications
