Asia Pacific Buy Now Pay Later (BNPL) Markets Report 2022 – QNT Press Release

[ad_1]

DUBLIN, Feb. 16, 2022 /PRNewswire/ — The “Asia Pacific Buy Now Pay Later Business and Investment Opportunities – 75+ KPIs on Buy Now Pay Later Trends by End-Use Sectors, Operational KPIs, Market Share, Retail Product Dynamics, and Consumer Demographics – Q1 2022 Update” report has been added to ResearchAndMarkets.com’s offering.

According to the Q4 2021 BNPL Survey, BNPL payment industry in the region is expected to grow by 61.5% on annual basis to reach US$ 133696.8 million in 2022.

BNPL payment industry in Asia Pacific has recorded strong growth over the last four quarters, supported by increased ecommerce penetration along with impact of economic slowdown due to disruption caused by Covid-19 outbreak.

Medium to long term growth story of BNPL industry in Asia Pacific remains strong. The BNPL payment adoption is expected to grow steadily over the forecast period, recording a CAGR of 33.3% during 2022-2028. The BNPL Gross Merchandise Value will increase from US$ 82806.9 million in 2021 to reach US$ 749,226.9 million by 2028.

The buy now, pay later (BNPL) market in the Asia-Pacific region recorded significant growth in the last four to six quarters. Asia is home to the leading BNPL companies in the world. Countries such as Australia, India, China, Singapore, Indonesiaand Malaysia Recorded strong demand for BNPL payment options in this period. A large young population is primarily driving the demand and market growth. The publisher expects that with the rising demand for BNPL, the region will likely attract more investment in the short to medium-term perspective .

Australia is one of the leading BNPL market in this region. As more and more consumers are inclining towards BNPL services primarily due to interest-free deferred payment solutions, the market recorded significant growth in the country. With a favorable regulatory framework and the presence of the world’s leading BNPL companies, the sector is expected to attract more investment opportunities in the short to medium term.

The publisher expects more B2B integrations and niche-focused BNPL offerings in the next four to six quarters. For instance, BNPL installment payment solutions for the healthcare industry to rise significantly. While there is still plenty of room for both established and emerging BNPL providers in the region, any change in the regulation is expected to impact the exponential growth that the segment experienced over the last few years.

Australian BNPL companies continue global expansion through strategic investments and partnerships

The global BNPL market is expected to grow significantly over the next four to eight quarters. …

Full story available on Benzinga.com

[ad_2]

Source link

Recommended For You

About the Author: News Center