Press release
India Buy Now Pay Later Market to Reach USD 44.90 Billion by 2033, Growing at 11.70% CAGR
According to IMARC Group's report titled "India Buy Now Pay Later Market Size, Share, Trends and Forecast by Channel, Enterprise Size, End Use, and Region, 2025-2033" the report offers a comprehensive analysis of the industry, including market share, growth, trends, and regional insights.
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India Buy Now Pay Later Market Overview
The India Buy Now Pay Later market size was valued at USD 15.37 Billion in 2024 and is projected to reach USD 44.90 Billion by 2033, growing at a CAGR of 11.70% during the forecast period of 2025-2033. This growth is driven by increased e-commerce adoption, a shift towards digital payments, and strategic partnerships with retailers expanding the consumer base and enhancing payment flexibility. The India Buy Now Pay Later Market continues to rapidly evolve with a focus on millennials and Gen Z consumers who prefer convenient, flexible payment solutions.
India Buy Now Pay Later Market Key Takeaways
• Current Market Size: USD 15.37 Billion (2024)
• CAGR: 11.70% (2025-2033)
• Forecast Period: 2025-2033
• The BNPL market is expanding due to rising e-commerce, digital payments, and strategic retailer partnerships.
• Millennials and Gen Z driving demand due to preference for payment flexibility.
• Increased disposable incomes and demand for smoother shopping experiences support BNPL adoption.
• Retailers gain by expanding customer base and increasing consumer expenditure through installment payments.
India Buy Now Pay Later Market Growth Factors
• Increased smartphone penetration and internet use enabling wider BNPL adoption.
• Rapid growth of e-commerce expanding BNPL payment channels.
• Strategic partnerships between BNPL providers and large retailers broadening accessibility.
• Government support and regulations promoting financial inclusion and digital credit models.
• Rising disposable incomes allowing consumers to opt for deferred payment models.
• Growing preference among millennials and Gen Z for flexible, interest-free installment options.
• Integration of BNPL services into online and offline retail payment systems.
• Expanding digital payment infrastructure including mobile wallets enhancing BNPL uptake.
• Large and small enterprises adopting BNPL to improve customer acquisition and conversion.
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India Buy Now Pay Later Market Trends
• BNPL adoption is driven by supportive government policies aimed at expanding financial inclusion.
• Regulatory clarity from the Reserve Bank of India encourages market entrants and consumer confidence.
• Collaborative fintech and retailer partnerships enhance market penetration and service reach.
• Integration of BNPL options offers financial flexibility, especially in e-commerce and point of sale channels.
• Increasing demand from underbanked consumers fuels the BNPL market expansion.
• Rapid e-commerce growth projected at 27% CAGR draws more consumers requiring flexible payments.
• High preference (90%) for digital payment methods among urban consumers supports BNPL uptake.
• BNPL is becoming mainstream for electronics, fashion, healthcare, entertainment, and retail sectors.
• Emerging sectors like travel, education, and home services are beginning to adopt BNPL solutions.
India Buy Now Pay Later Market Segmentation
Analysis by Channel:
• Online: Increasing e-commerce popularity makes BNPL a convenient installment payment alternative, driving adoption in fashion, electronics, and groceries.
• Point of Sale (POS): Retailers adopt BNPL solutions at POS to offer installment options, increasing purchase convenience and business.
Analysis by Enterprise Size:
• Large Enterprises: Leverage extensive customer bases and resources to integrate BNPL and boost large-scale adoption across industries.
• Small and Medium-sized Enterprises (SMEs): Utilize BNPL to stay competitive, attract more customers, and improve conversion, especially in fashion and electronics.
Analysis by End Use:
• Consumer Electronics: High-value product purchases facilitated by BNPL, popular among the rising middle class and internet users.
• Fashion and Garment: Frequent purchases financed by BNPL encourage spending and customer retention in online and offline stores.
• Healthcare: BNPL enables access to elective and essential treatments without immediate financial burden.
• Leisure and Entertainment: BNPL provides flexible payment for experiences such as concerts, travel, and movies.
• Retail: BNPL widely adopted by retailers to attract installment-preferenced customers, boosting conversion rates.
• Others: Includes education, travel, and home services, expanding BNPL's scope across various industries.
India Buy Now Pay Later Market Regional Insights
• North India: Rapid growth in e-commerce and digital payments with cities like Delhi and Jaipur leading adoption.
• West and Central India: Economic hubs such as Mumbai and Pune drive BNPL uptake through increasing e-commerce.
• South India: Strong demand led by tech-savvy cities like Bengaluru and Chennai boosts BNPL expansion.
• East and Northeast India: Gradual adoption of BNPL services due to improving connectivity and digital penetration.
The BNPL market is dominated by North India showing significant growth supported by increasing digital penetration and urbanization. The market is projected to grow at a CAGR of 11.70% during the forecast period.
India Buy Now Pay Later Market Recent Developments & News
• March 2025: Klarna became Walmart's exclusive BNPL provider in India through a partnership with One Pay, enhancing flexible installment options.
• January 2025: MakeMyTrip launched a part payment option for international flights allowing travelers to pay 10-40% upfront and balance later without extra cost.
• January 2025: Amazon plans to acquire Indian BNPL startup Axio for over USD 150 Million, expanding its financial services footprint.
• January 2025: Samsung Wallet announced upcoming features Tap to Transfer and Instant Installments to enable NFC payments and installment conversions backed by Visa and Mastercard.
India Buy Now Pay Later Market Key Highlights of the Report
• Comprehensive quantitative analysis of India BNPL market segments and trends from 2019-2033.
• Detailed insights into drivers, challenges, and opportunities in regional markets.
• Competitive landscape evaluation including company profiles and market positioning.
• Porter's Five Forces analysis to assess industry competitiveness.
• Provides actionable data for stakeholders to identify growth markets and strategic opportunities.
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IMARC Group is a global management consulting firm that helps ambitious changemakers create a lasting impact. The company offers comprehensive market assessment, feasibility studies, incorporation support, regulatory assistance, branding and strategy services, and procurement research.
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