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KSA Buy Now Pay Later Market Outlook to 2027: Ken Research

11-10-2022 10:04 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: Ken Research Pvt .Ltd

KSA Buy Now Pay Later Market Outlook to 2027: Ken Research

How BNPL Market is positioned in KSA?

The report titled "KSA Buy Now Pay Later Market Outlook to 2027- Driven by digitalization, government support as a part of Saudi vision 2030 increasing Genz & millennials population due to influx of expatriates coupled with shifting preference towards easy interest free extra credit line sources" by Ken Research provides a comprehensive analysis of the potential of KSA BNPL Industry. The report also covers overview and genesis of the industry, market size in terms of revenue generated, number of transactions and average order value; market segmentation by, by type of end users, By Age Group of Consumers; challenges and bottlenecks, growth enablers and drivers; regulatory framework; competitive landscape including competition scenario, market shares of major operators - Cross Comparison of BNPL players on major decision making parameters for brand preference. The report concludes with future market projections of each segmentation.

KSA BNPL market overview

BNPL services serve a huge need in Middle East and North Africa (MENA) region. This is iterated to the fact that there was an exponential inflection point in Ecommerce adoption that happened in the last 12 months in the region, where eCommerce penetration was previously lower than other parts of the world but is now slated to become one of the most penetrated regions globally.

Market Overview of Buy Now Pay Later Industry in KSA

Buy now, pay later (BNPL) arrangements are becoming increasingly popular in Saudi Arabia, a trend that has been fuelled by the e-commerce boom and embraced by the country's youth, tech-savvy population eager to adopt what they feel is a more convenient and transparent way to finance purchases.

During the LEAP tech conference held recently in Riyadh, global payment solutions provider Checkout.com shared findings from a survey of Saudi consumers it conducted in partnership with YouGov, and shared key growth metrics, outlining the rapid expansion of Saudi Arabia's e-commerce market, and rising eagerness from the public to use BNPL products.

Trends perceived by Checkout.com have also been witnessed by other payment services providers. Tamara, a Saudi BNPL platform, was launched just a little over a year ago and is already seeing massive traction.

Checkout.com, which provides merchants with online payment options, said every sector of the Saudi economy for business-to-consumer (B2C) goods and services saw increased digital spending in 2021. Nearly half (48%) of Saudi consumers plan to spend even more on e-commerce in the next 12 months, with 40% citing the opportunity for cross-border shopping as a key reason why they now shop online.

The company observed changing payment preferences, with 55% of Saudi Arabian consumers indicating having used BNPL payment methods such as Tamara in 2021. A further 27% said they have not yet used BNPL but intend to do so in 2022.

Booming BNPL adoption is part of the broader digital shift that's been ongoing. At the LEAP conference, Checkout.com founder and CEO Guillaume Pousaz said the company has seen a 470% increase in its own transaction volumes in Saudi Arabia since 2019, "a testament to just how fast the Kingdom's digital economy is expanding," the company said in a statement.

Key Segments Covered in KSA BNPL Market:-

Market Size of Buy Now Pay Later in KSA

on the basis of Revenue, 2019-2022P

on the basis of Number of Transactions, 2019-2022P

on the basis of Average Order Value, 2019-2022P

Request For Sample Report @ https://www.kenresearch.com/sample-report.php?Frmdetails=NTk2MDQ2

Market Segmentation By mode of payment

Online

Offline

Market Segmentation By end user

Ecommerce Giants

Physical Retailers

Travel and entertainment Merchants

Food Merchants

Market Segmentation By age group:

Below 24

24-36

36-50

Above 50

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:-

Tabby

Spotii

Tamara

Cashew

PostPay

For more information on the research report, refer to below link:-
https://www.kenresearch.com/banking-financial-services-and-insurance/banking/ksa-buy-now-pay-later-market-outlook-to-2027/596046-93.html

Related Reports:-

https://www.kenresearch.com/banking-financial-services-and-insurance/financial-services/india-buy-now-pay-later-market-outlook-to-2026/515064-93.html

https://www.kenresearch.com/banking-financial-services-and-insurance/banking/uae-buy-now-pay-later-industry-outlook-to-2027/588867-93.html

Ken Research Pvt. Ltd.,
Unit 14, Tower B3, Spaze I Tech Business Park, Sohna Road, sector 49 Gurgaon, Haryana - 122001, India

Ken Research is a research based management consulting company. We provide strategic consultancy to aid clients on critical business perspective: strategy, marketing, organization, operations and technology transformation, advanced analytics, corporate finance, mergers & acquisitions and sustainability across all industries and geographies. We provide business intelligence and operational advisory across 300+ verticals underscoring disruptive technologies, emerging business models with precedent analysis and success case studies. Some of top consulting companies and Market leaders seek our intelligence to identify new revenue streams, customer/ vendor paradigm and pain points and due diligence on competition.

We currently cater to 300+ sectors with 150,000+ research repository across 196+ countries serving 1000+ clients and have partnered with almost 25+ content aggregators.

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