Medium to long term growth story of BNPL industry in the UAE remains strong. The BNPL payment adoption is expected to grow steadily over the forecast period, recording a CAGR of 9% during 2022-2027: Ken Research

Key Findings

  • BNPL can be a threat to the credit card industry in the future. Keeping in mind the low penetration of credit cards in UAE, and with FinTech players entering into this space, there is a long way to go for credit cards as well.
  • Going forward, we will see a growth in transaction values for both UPI and credit cards as people will shift away from cash.
  • FinTech has opened up new avenues for the credit industry to tap into the large customer base without credit history. FinTech has brought in logical and innovative changes that can support the growth of the credit industry.

UAE Buy Now Pay Later (BNPL) Market Overview:

Adoption of Cashless Society: The coronavirus pandemic has led to an increase in cashless transactions, thereby promoting the use of cards (both credit and debit).  Due to lower monthly incomes for a large stratum of the population during the early days of the pandemic, demand for credit cards increased. The demand for online payments is ever growing and service providers are constantly innovating themselves to offer rewarding services to their users. Consumers are heavily relying on cards for making payments for their day-to-day requirements because of speed and convenience.

Rapid Urbanization: Increased income of people along with growing standards of living in urban areas are propelling usage of new consumer products and services, leading to increased demand for modern products specially by the youth of the country. Such demand has led to increased average spend per card and number of transactions.

Growth Drivers of UAE Buy Now Pay Later Market

Foray into the BNPL space: Traditional banks are already offering BNPL services. Given the growth of BNPL in UAE, especially among the millennial population, it is forecasted that other banks will also venture into this space. A lot of banks are already working in this space, and they can partner with FinTechs in order to leverage their experience and brand value along with the technology, product offerings and merchant reach of FinTechs.

Omnichannel ecosystem for credit EMIs: The credit EMI market has traditionally been dominated by offline retail. However, due to the current situation, online buying is seeing greater traction among customers. Players in this sector need to focus more on building the Omnichannel ecosystem to cater to both the offline and online market.

The publication titled UAE Buy Now Pay Later Industry Outlook to 2027: Driven by adoption of cashless society, increasing Genz & millennials population coupled with shifting preference towards easy interest free extra credit line sourcesprovides a comprehensive analysis of the Buy Now Pay Later industry in UAE. The report covers various aspects including BNPL industry market size on the basis of revenue, number of transactions and average order value, market overview, Key Features and Development in UAE Buy Now Pay Later Market, How a Buy Now Pay Later Transaction Happen, ecosystem of entities in the UAE BNPL industry, growth drivers, restraints and challenges, major trends and developments, Overview of Global BNPL Industry, Presence of BNPL Players Across Globally, Disruptors of Credit card Globally, Porter’s Five Force Analysis of the UAE Buy Now Pay Later Market, Issues and Challenges in the UAE Buy Now Pay Later Market , SWOT Analysis, Role of Government and Regulations in the UAE Buy Now Pay Later Industry, and Impact of COVID-19. Insights on competitive landscape of BNPL industry, company profile of major BNPL players operating in the ecosystem on the basis of Operational and Financial Parameters, Company Overview, Business Strategy, Marketing Strategy, Recent Developments, Key Partnerships, Key Fitness Partners, Product Portfolio, Key collaboration, Cost Structure and Challenges is also covered in the report. The report also covers analysis of demand side on the basis of Adoption Rationale of Consumers towards Buy Now Pay Later Services ,Cross Comparison of BNPL players on major decision making parameters for brand preference, Consumer Persona Analysis. Further report also focuses on the UAE Buy Now Pay Later Market Segmentation by Mode of Payments (Online vs Offline), by Type of End User (Ecommerce Retail, Consumer Electronics, Food Aggregators and Travel Aggregators), By Geography (Dubai, Sharjah and Abu Dhabi), By Age Group of Consumers,( 15-30 years, 30-40 years, 40-50 years, above 50 years). UAE BNPL Market report concludes with projections for the future of the industry including forecasted industry size by revenue by 2027, and analysts’ take on the future highlighting the major opportunities.

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Key Segments Covered in UAE Buy Now Pay Later Industry

UAE Buy Now Pay Later Market

  • By Mode of Payments
  • Online
  • Offline
  • By Type of End User
  • Ecommerce Retail,
  • Consumer Electronics,
  • Food Aggregators
  • Travel Aggregators
  • By Geography
  • Dubai,
  • Sharjah
  • Abu Dhabi
  • By Age Group of Consumers,
  • 15-30 years
  • 30-40 years
  • 40-50 years
  • Above 50 years
  • Adoption Rationale of Consumers towards Buy Now Pay Later Services
  • Cross Comparison of BNPL players on major decision-making parameters for brand preference
  • Consumer Persona Analysis

Time Period Captured in the Report:

  • Historical Period: 2019-2022
  • Forecast Period: 2023-2027F

UAE Buy Now Pay Later Industry Players/Ecosystem

  • BNPL Players (Supply Side)
  • Tabby
  • Tamara
  • Spotii
  • Afterpay
  • Rise
  • Cashew
  • Postpay
  • Souqalmal
  • Lifestyle Merchants (Demand Side)
  • Amazon
  • SHEIN
  • The Body Shop
  • Adidas
  • Actan
  • Swarovski Ebrahim Shop
  • Babytonia
  • Food Merchants (Demand Side)
  • Healthy life
  • Golden Tamper
  • Karam Alnakhil
  • Mawared
  • Payment System Operators
  • Simpl SamsungPay
  • Apple Pay
  • VISA
  • Payit
  • Mastercard
  • Gpay
  • Regulators and Facilitators
  • Dubai Financial Authority Services
  • Financial Services Regulatory Authority

 Key Topics Covered in the Report

  • Overview of Global BNPL Industry
  • Presence of BNPL Players Across Globally
  • Top Buy Now Pay Later Apps In UAE
  • Disruptors of Credit card Globally
  • Key Features and Development in UAE Buy Now Pay Later Market
  • How a Buy Now Pay Later Transaction Happens
  • Key Trends of UAE Buy Now Pay Later Industry
  • Ecosystem of Major Entities in Buy Now Pay Later Industry in UAE
  • Growth Drivers of UAE Buy Now Pay Later Market
  • Porter’s Five Force Analysis of the UAE Buy Now Pay Later Market
  • Trends and Developments in UAE Buy Now Pay Later Market
  • Issues and Challenges in the UAE Buy Now Pay Later Market
  • SWOT Analysis of UAE Buy Now Pay Later Market
  • Role of Government and Regulations in the UAE Buy Now Pay Later Industry
  • Impact of COVID-19
  • Adoption Rationale of Consumers towards Buy Now Pay Later Services
  • Cross Comparison of BNPL players on major decision making parameters for brand preference
  • Consumer Persona Analysis
  • Investment Analysis of Major Players in the BNPL Space from 2016 to 2021
  • UAE BNPL Market Sizing on the basis of number of Number of transaction, revenue and average order value.
  • UAE BNPL Market Segmentation (By Mode of Payment, By Type of End User, By geography and by age group).
  • Company profile of major BNPL players operating in the ecosystem (Operational and Financial Parameters, Company Overview, Business Strategy, Marketing Strategy, Recent Developments, Key Partnerships, Key Fitness Partners, Product Portfolio, Key collaboration, Cost Structure and Challenges).
  • Analyst Recommendations
  • Industry Speaks

Related Reports

India Buy Now Pay Later Market Outlook to 2026: Cascading Growth driven by one-click payment ease, unmatched expediency among lending solutions and free of cost deferment of payments, coupled with rising adoption by Merchant Payments due to increase in Customer Conversion and Sales Value

Asia BNPL Cards Market Outlook to 2025 – By Commercial and Personal BNPL Cards; By Transactions at ATM and POS Terminals; by Total Cards in Circulation; Transaction Value and Volume through Issuers and Operators; and by Countries (Japan, South Korea, India, China, Indonesia, Philippines, Singapore and Others

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