Key Findings
- BNPL can be a threat to the credit card
industry in the future. Keeping in mind the low penetration of credit
cards in UAE, and with FinTech players entering into this space, there is
a long way to go for credit cards as well.
- Going forward, we will see a growth in
transaction values for both UPI and credit cards as people will shift away
from cash.
- FinTech has opened up new avenues for the
credit industry to tap into the large customer base without credit
history. FinTech has brought in logical and innovative changes that can
support the growth of the credit industry.
UAE Buy Now Pay Later (BNPL) Market Overview:
Adoption of
Cashless Society: The
coronavirus pandemic has led to an increase in cashless transactions, thereby
promoting the use of cards (both credit and debit). Due to lower monthly
incomes for a large stratum of the population during the early days of the
pandemic, demand for credit cards increased. The demand for online payments is
ever growing and service providers are constantly innovating themselves to
offer rewarding services to their users. Consumers are heavily relying on cards
for making payments for their day-to-day requirements because of speed and
convenience.
Rapid
Urbanization: Increased
income of people along with growing standards of living in urban areas are
propelling usage of new consumer products and services, leading to increased
demand for modern products specially by the youth of the country. Such demand
has led to increased average spend per card and number of transactions.
Foray into
the BNPL space: Traditional
banks are already offering BNPL services. Given the growth of BNPL in UAE,
especially among the millennial population, it is forecasted that other banks
will also venture into this space. A lot of banks are already working in this
space, and they can partner with FinTechs in order to leverage their experience
and brand value along with the technology, product offerings and merchant reach
of FinTechs.
Omnichannel
ecosystem for credit EMIs: The credit
EMI market has traditionally been dominated by offline retail. However, due to
the current situation, online buying is seeing greater traction among
customers. Players in this sector need to focus more on building the
Omnichannel ecosystem to cater to both the offline and online 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” 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
UAE Buy Now
Pay Later Industry Players/Ecosystem
- BNPL Players (Supply Side)
- Tabby
- Tamara
- Spotii
- 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
- Presence of BNPL Players Across Globally
- Top Buy Now Pay Later Apps In UAE
- 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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