How Buy Now Pay Later BNPL Industry Is Positioned In South Africa?
South Africa BNPL (Buy Now Pay Later) market has displayed a significant growth since 2019 growing at double digit CAGR ~%. The market is gaining pace with positive response from customers as well as retailers. The market is moderately concentrated with 5-6 major players. The market witnessed the entry of some international players as well in the recent past. The growth in the past few years is driven by the need for extra credit line by the customers, convenience and relative ease of access to credit over credit credits, initiatives by the government to enhance digitization, and positive response from the retailers due to increased sales.
The South Africa Buy Now Pay Later Market has witnessed tremendous growth during 2019-2022. Due to the high attractiveness of the market, new domestic and international players are expected to enter in the market in the next decade. The market is in the growth stage. The market is expected to grow at a strong double-digit CAGR ~% during 2022-2027. Since BNPL hosts multiple advantages for the end-users such as the convenience to split up the total payment into 3, 6, 9 or 12 payments that are made over time and increased adoption is expected from the businesses as well since BNPL furthers gives a push to the sales as well, due to better access to credit accompanied by upfront payment to businesses, that is made by the BNPL payments on behalf of the customers. Overall market outlook is bullish.
South Africa Buy Now Pay Later Market Segmentation
By Mode of Payment (Online and Offline)
Buy Now Pay Later Market in South Africa can be segmented on the basis of Mode of Payment: Online and Offline Mode where Online mode accounts for higher share at XX% as compared to the offline mode on the basis of revenue generated in the year 2022.
By Type of End Users (Retailers, Food Aggregators and Travel Merchants)
Buy Now Pay Later Market in South Africa can be segmented on the basis of Type of End Users: Retailers, Food Aggregators and Travel Merchants where Retailers account for the higher share at XX% as compared to the food aggregators on the basis of revenue generated in the year 2022.
By Age Group of Customers (Below 20 years, 20-40 years and above 40 years)
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Buy Now Pay Later Market in South Africa can be segmented on the basis of Age Group of Costumers: Below 20 years, 20-40 years and above 40 years where the age group ’20-40 years’ accounts for majority share at XX% as compared to below 20 years and above 40 years on the basis of revenue generated in the year 2022.
Comparative Landscape in South Africa Buy Now Pay Later Market
Competition is observed to be moderately concentrated in the South Africa Buy Now Pay Later space with majority of market being acquired by 5-6 large players. The comparison has been built on multiple factors which includes onboarding process, ease of use and brand image and Other parameters such as Number of Investors, Funding and more are covered a part of the research.
South Africa Buy Now Pay Later Market Future Outlook and Projections
South Africa Buy Now Pay Later market is expected to grow with a double digit CAGR at XX% in between 2022 and 2027 on the basis of revenue generated. The number of transactions in the South Africa Buy Now Pay Later market are expected to grow with a double digit CAGR at XX% during 2022-2027. The average order value per transaction is expected to increase with a single digit CAGR at X% during 2022-2027. It is anticipated that Buy Now Pay Later market will grow owing to factors such as increasing demand for extra credit line, increased adoption of fin-tech in the South Africa Economy, easier access to credit, increased awareness and adoption by customers and businesses.
South Africa Buy Now Pay Later Future Forecasted Market Segmentation
By Mode of Payment (Online and Offline)
Buy Now Pay Later Market in South Africa can be segmented on the basis of Mode of Payment: Online and Offline where Online mode is forecasted to account for higher share at XX% as compared to the offline mode on the basis of revenue forecasted to be generated in the year 2027.
By Type of End Users (Retailers, Food Aggregators and Travel Merchants)
Buy Now Pay Later Market in South Africa can be segmented on the basis of Type of End Users: Retailers, Food Aggregators and Travel Merchants where Retailers are expected to account for the higher share at XX% as compared to the food aggregators on the basis of revenue forecasted to be generated in the year 2027.
By Age Group of Users (Below 20 years, 20-40 years and above 40 years)
Buy Now Pay Later Market in South Africa can be segmented on the basis of Age of Costumers: Below 20 years, 20-40 years and above 40 years where the age group ’20-40 years’ is expected to account for the majority share at XX% as compared to below 20 years and above 40 years on the basis of revenue forecasted to be generated in the year 2027.
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Key Segments Covered: -
South Africa BNPL Market:
By mode of payment (by Revenue) 2022 and 2027:
- Online
- Offline
By End Users (by Revenue) 2022 and 2027:
- Retailers
- Food Merchants
- Travel Merchants
By Age Group of Users (by Revenue) 2022 and 2027:
- Below 20 years
- 20-40 years
- Above 40 years
Key Target Audience:
- Bankers and associations
- Government associations
- Corporates
- Investment firms
- Government Bodies & Regulating Authorities
- Fintech companies
- Venture capitalists
Time Period Captured in the Report:
- Historical Year: 2019-2021
- Base Year: 2022
- Forecast Period: 2023– 2027F
Companies Covered:
- TymeBank
- PAYJUSTNOW
- Mobicred
- PayFlex
Key Topics Covered in the Report:
- BNPL Industry positioning
- Socio demographic Outlook of South Africa
- Presence of Global BNPL Players
- Trends of BPNL Industry
- Market size of BPNL
- BNPL transaction process
- Key Features and developments in South Africa BPNL
- SWOT Analysis of South Africa BNPL
- Issues and Challenges in South Africa BNPL
- Investment Analysis of players in BNPL Space
- Role of Government and regulations in South Africa BNPL
- Porter’s Five force Analysis in South Africa BPNL
- Future Market Size of BNPL in South Africa
For More Information on the research report, refer to below link: -
Buy Now Pay Later industry in South Africa
Related Reports by Ken Research: -
KSA Buy Now Pay Later Market Outlook to 2027
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