[ad_1]
Dublin, February 11, 2023 /PRNewswire/—— “UAE Buy Now Pay Later Business and Investment Opportunities Databook – 75+ KPIs on BNPL Market Size, End Use Industry, Market Share, Product Analysis, Business Model, Demographics – Q1 2023 Update” report added to ResearchAndMarkets.com’s supply.
BNPL payments are expected to grow at an annual rate of 22.0% to reach $2.5311 billion 2023.
BNPL payment industry in united arab emirates The past four quarters have seen strong growth, supported by increased e-commerce penetration.
Medium to long-term growth story for the BNPL industry united arab emirates still strong. BNPL payments adoption is expected to grow steadily over the forecast period, at a CAGR of 12.3% from 2023 to 2028.The country’s BNPL gross merchandise value will change from $2,075.2 million reached in 2022 $4.5252 billion by 2028.
Strong internet infrastructure coupled with a thriving e-commerce market and digital payment ecosystem supports the growth of the buy now pay later (BNPL) industry in the United States united arab emirates (United Arab Emirates). More consumers will shop online in 2022 than in 2021, a trend that has translated into higher adoption of the BNPL scheme across the UAE region.
In 2022, more than 37% of consumers in the UAE have used BNPL payment schemes. This is significantly higher than the 24% who used the BNPL option a year ago.
UAE consumers are using BNPL schemes across a wider range of product categories
As interest rates on credit cards in the UAE rise, more consumers are flocking to zero-percent BNPL plans offered by fintechs in the country such as Tabby and Tamara.
With increasing adoption, the BNPL program is finding new and broader product categories. Consumers are no longer just using payment options to purchase smartphones. They are even willing to buy air tickets through BNPL payment method. As such, providers like Cashew are working with travel partners to allow travelers to receive up to AED50,000 in BNPL credits on air tickets.
With consumers willing to finance more cross-category purchases, consumer behavior is opening doors to new industries for BNPL providers in the UAE. As such, the publisher expects suppliers to enter the UAE’s tourism, education, insurance and healthcare markets within the next three to four years. In the short to medium term, this will continue to support industry growth and consumer adoption.
Domestic BNPL firms are expanding their regional operations to accelerate growth rates as consumer acceptance increases
Amid increasing competition in the domestic market, the UAE-based BNPL provider is now targeting growth in other regional countries to drive the next growth phase of its deferred payment services.
exist September 2022, Tabby, a leading UAE-based BNPL provider, announced that it is expanding its operations into the Egyptian market. In the UAE, the company works with many leading brands including Faces, In Your Shoe, Ariika, Marcqa, Floward and Lacoste, among others.
Has over 2 million active shoppers middle East region, the company has decided to expand Egypt After fixing $275 million Funding from global and regional investors since inception.
exist October 2022, the company has also entered into a strategic partnership with YouGotaGift, one of the region’s leading digital gift card marketplaces. Under the partnership, the two companies will allow consumers and shoppers to purchase gift cards using Tabby’s BNPL payment method.
The collaboration coincides with the end-of-year holidays and gift-giving season approaching in the UAE. So publishers are hoping the service will win over consumers in the short term.
This report provides a detailed data-centric analysis of the Buy Now Pay Later (BNPL) industry, covering market opportunities and risks across a range of retail categories. This report provides more than 75 KPIs at country level for a comprehensive understanding of BNPL market dynamics, market size and forecast, and market share statistics.
It segments the market opportunities by business model type, sales channel (offline and online), and distribution model. Additionally, it provides an overview of the dynamics of consumer behavior and retail spending in the UAE. KPIs in value and volume provide insight into end market dynamics.
Research methodology is based on industry best practice. Its unbiased analysis leverages a proprietary analytics platform to provide a detailed view of emerging business and investment market opportunities.
scope
UAE Buy Now Pay Later Market Share Analysis of Key Players
tabby cat
laugh at
Postpay
Tamara
cashew payment
Aramex Smart
rise
After payment
UAE BNPL Market Size and Spending Patterns 2019-2028
Gross merchandise value trend analysis
Average value trend analysis per transaction
Trading Volume Trend Analysis
UAE Buy Now Pay Later Revenue Analysis, 2019-2028
Buy Now Pay Later
Buy Now Pay Later Share by Income
Buy Now Pay Later Merchant Commission Income
Buy Now Pay Later Revenue based on Missed Payment Fee Revenue
Buy Now Pay Later Earnings from Pay Now and Other Earnings
UAE Buy Now Pay Later Operational KPIs and Statistics, 2019-2028
UAE BNPL by use 2019-2028
UAE BNPL by Business Model 2019-2028
UAE BNPL in Merchant Ecosystem 2019-2028
open loop system
closed loop system
2019-2028 UAE BNPL Distribution Model Analysis
UAE BNPL Channel Analysis, 2019-2028
online channel
Sales channels
UAE Retail Shopping Buy Now Pay Later: Market Size and Forecast 2019-2028
Gross merchandise value trend analysis
Average value trend analysis per transaction
Trading Volume Trend Analysis
UAE Home Improvement Buy Now Pay Later: Market Size and Forecast 2019-2028
Gross merchandise value trend analysis
Average value trend analysis per transaction
Trading Volume Trend Analysis
UAE Travel/Entertainment Buy Now Pay Later: Market Size and Forecast 2019-2028
Gross merchandise value trend analysis
Average value trend analysis per transaction
Trading Volume Trend Analysis
Buy Now Pay Later Services in UAE: Market Size and Forecast 2019-2028
Gross merchandise value trend analysis
Average value trend analysis per transaction
Trading Volume Trend Analysis
UAE Automotive Industry Buy Now Pay Later: Market Size and Forecast 2019-2028
Gross merchandise value trend analysis
Average value trend analysis per transaction
Trading Volume Trend Analysis
Buy Now Pay Later in Healthcare and Wellness in UAE: Market Size and Forecast, 2019-2028
Gross merchandise value trend analysis
Average value trend analysis per transaction
Trading Volume Trend Analysis
UAE Grocery Buy Now Pay Later: Market Size and Forecast
Gross merchandise value trend analysis
Average value trend analysis per transaction
Trading Volume Trend Analysis
Analysis of Buy Now Pay Later Consumer Attitude and Behavior in the UAE
For more information on this report, please visit https://www.researchandmarkets.com/r/kjnnir-buy-now-pay?w=5
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source of international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, top companies, new products and latest trends.
Media Contact:
Research and Market
laura woodSenior Manager
press@researchandmarkets.com
Eastern Office Hours please call +1-917-300-0470
US/Canada Toll Free +1-800-526-8630
Call +353-1-416-8900 during GMT office hours
US Fax: 646-607-1907
Fax (outside the US): +353-1-481-1716
View the original content:https://www.prnewswire.com/news-releases/uae-buy-now-pay-later-business-report-2023-a-4-52-billion-market-by-2028-featuring-key-players- –tabby-spotti-postpay-tamara-cashew-payments-aramex-smart-rise–afterpay-301744630.html
Sources Research and Markets
[ad_2]
Source link