Philippines Buy Now Pay Later Market 2021 Business Opportunities, Current Trends, Challenges and Forecast 2025

Philippines Buy Now Pay Later Market Size and Forecast to 2021 – 2025 is a valuable source of insightful data for business strategists. It provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand, and supply data. The research analysts provide a detailed description of the value chain and its distributor analysis. This Market study provides comprehend Buy Now Pay Later data that enhances the understanding, scope, and application of this report.

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Market Overview:

After being negatively impacted by the global pandemic, consumer spending in the Philippines is expected to bounce back in 2021. Consequently, buy now pay later (BNPL) firms look set to advantage of the Filipino consumers' eagerness to open their wallets again. The growth of the BNPL sector in the country speaks about the convenience it has to offer and the fact that Filipinos are willing to manage their budget much more optimally. BNPL Survey, BNPL payment in the country is expected to grow by 66.6% on annual basis to reach US$ 350.1 million in 2021.

A large chunk of the Filipino population remains unbanked in the country. This is also expected to drive the adoption of BNPL services among more consumers in the Philippines. Notably, the remoteness of physical bank branches and the stringent requirements of traditional lenders are some of the other key reasons behind the projected growth of the deferred payment service in the Philippines.

In the last five years, a lot of companies have launched their deferred payments services in the country. BillEase, operated by the First Digital Finance Corporation (FDFC), is one such BNPL service that offers consumers short-term loans at interest rates ranging from 0% to 5%. Apart from BillEase, Manila-based Jungle, Hong Kong-based Cashalo, and TendoPay are the other BNPL providers who are looking to capitalize in the credit-starved market of the Philippines.

Medium to long term growth story of BNPL industry in Philippines remains strong. The BNPL payment adoption is expected to grow steadily over the forecast period, recording a CAGR of 27.4% during 2021-2028. The BNPL Gross Merchandise Value in the country will increase from US$ 210.2 million in 2020 to reach US$ 1,911.8 million by 2028.

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https://www.marketinsightsreports.com/reports/10133345683/philippines-buy-now-pay-later-business-and-investment-opportunities-2019-2028-75-kpis-on-buy-now-pay-later-trends-by-end-use-sectors-operational-kpis-market-share-retail-product-dynamics-and-consumer-demographics?Mode=28

The study objectives of this report are:

To study and analyze the Philippines Buy Now Pay Later size (value and volume) by the company, key regions/countries, products and application, history data from 2020 to 2024, and forecast to 2025.
To understand the structure of Buy Now Pay Later by identifying its various sub-segments.
To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
Focuses on the key Philippines Buy Now Pay Later manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis, and development plans in the next few years.
To analyze the Buy Now Pay Later with respect to individual growth trends, future prospects, and their contribution to the total market.
To project the value and volume of Buy Now Pay Later submarkets, with respect to key regions (along with their respective key countries).
To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
To strategically profile the key players and comprehensively analyze their growth strategies.    

The research includes historic data from 2015 to 2021 and forecasts until 2027 which makes the report an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and stakeholders looking for key industry data in readily accessible documents with clearly presented tables and graphs.

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Irfan Tamboli (Head of Sales) – Market Insights Reports
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This release was published on openPR.