The Covid-19 pandemic is a catalyst in exhilarating and paving way for newer companies to enter the BNPL space in the country coupled with external investments made in the industry: Ken Research REQUEST FOR SAMPLE REPORT Buy Now Request For sample Report × Report Title Name Email Designation Phone No Comapny Name Comapny URL Country -- Please Select Your Country -- Afganistan Africa Albania Algeria Andorra Angola Anguilla Antigua and Barbuda Argentina Armenia Aruba Asia Australasia Australia Austria Azerbaijan Bahamas Bahrain Bangladesh Barbados Belarus Belgium Belize Benin Bermuda Bhutan Bolivia Bonaire Bosnia Herzegovina Botswana Brazil BRICS British Virgin Islands Brunei Darussalam Bulgaria Burkina Faso Cambodia Cameroon Canada Cape Verde Cayman Islands Central African Republic Central and South America Chad Chile China Colombia Comoros Congo Costa Rica Cote d'Ivoire Croatia Cuba Curacao Cyprus Czech Republic Denmark Djibouti Dominica Dominican Republic Ecuador Egypt El Salvador Equatorial Guinea Eritrea Estonia Ethiopia Europe European Union Falkland Islands Faroe Islands Fiji Finland France French Guiana French Polynesia Gabon Gambia Georgia Germany Ghana Gibraltar Global Great Britain Greece Greenland Grenada Guadeloupe Guam Guatemala Guerney & Alderney Guinea Guinea-Bissau Guyana Haiti Honduras Hong Kong Hungary Iceland India Indonesia Iran Iraq Ireland Isle of Man Israel Italy Ivory Coast Jamaica Japan Jersey Jordan Kazakhstan Kenya Kiribati Kosovo Kuwait Kyrgyzstan Laos Latvia Lebanon Lesotho Liberia Libyan Arab Jamahiriya Liechtenstein Lithuania Luxembourg Macao Macau Macedonia Madagascar Malawi Malaysia Maldives Mali Malta Man (Island of) Marshall Islands Martinique Mauritania Mauritius Mayotte Mexico Micronesia Middle East Minnesota Moldova Monaco Mongolia Monserrat Montenegro Morocco Morroco Mozambique Myanmar Namibia Nepal Netherlands New Caledonia New Zealand Nicaragua Niger Nigeria Niue North America North Korea Norway Oman Pakistan Palau Palestine Panama Papua New Guinea Paraguay Peru Philippines Poland Portugal Puerto Rico Qatar Reunion Romania Russia Rwanda Saint Helena Saint Lucia Saint Martin Saint Pierre and Miquelon Saint Vincent and the Grenadines Samoa Samoa (American) San Marino Sao Tome and Principe Saudi Arabia Scandinavia Senegal Serbia Seychelles Sierra Leone Singapore Sint Maarten Slovakia Slovenia Solomon (Islands) Somalia South Africa South Korea South Sudan Spain Sri Lanka Sudan Suriname Svalbard and Jan Mayen Islands Swaziland Sweden Switzerland Syria Taiwan Tajikistan Tanzania Thailand Timor Leste Togo Tonga Trinidad and Tobago Tunisia Turkey Turkmenistan Turks and Caicos Islands Uganda Ukraine United Arab Emirates United Kingdom United States Uruguay Uzbekistan Vanuatu Vatican City Venezuela Vietnam Virgin Islands Western Sahara Yemen Zambia Zimbabwe Requirement Submit No Interest Credit Payments: One of the major reason as to why BNPL is a robust mechanism inside South Africa is due to the fact that customers are allowed to pay the money in three equal instalments with no interest fee. Although, there is a carry forward fee in case the shopper misses the payment deadline, it still is almost negligible making the industry quite lucrative in a region with less per capita income. With a population of ~61 million and USD ~426 Bn GDP as of 2022, South Africa’s economy has been growing at a CAGR of 4.7% during 2016 and 2022. Disruption Penetrated by COVID-19 Pandemic: The South Africa BNPL market boomed during COVID-19 pandemic as huge chunk of the residents lost their jobs during this period and were surviving on their savings and this push forwarded the need for extra credit line which was catered by the BNPL services. Providers such as PayFlex and PayJust Now are making robust efforts to sustain the rising interest in consumer credit financing. Request for Sample Report: – https://bit.ly/3N33ZZZ Lack of Awareness in the Consumer Segment: Inception of digital payments is still comparatively new in the African market and thus rural consumer segments find themselves being unaware of the latest trends in the BNPL industry. This when coupled with the digital divide in the urban-rural setting is a massive challenge for merchants and BNPL players in South Africa due to lack of means of financial awareness in the country. South African National Payments System: The South African National Payments System (NPS) was launched in November, 1995 and it was a collaborative effort between South African Reserve Bank and the banking industry. The strategy it envisioned encompasses fundamental principles and critical success factors for reforms in the domestic payment mechanism in the Republic of South Africa. All cards issuing, acquiring and acceptance services must be in compliance with South African legislation. The directive aims to address transactions occurring within South Africa between domestic parties, where such transactions are processed as if they were cross-border transactions as a result of involvement of a foreign card issuer. Analysts at Ken Research in their latest publication “South Africa Buy Now Pay Later Market Outlook to 2027 – Driven by digitalization, government support, increasing working age population, with upsurge in Gen-Z & millennials population coupled with shifting preference towards easy interest free extra credit line sources” by Ken Research observed that increasing adoption of cashless society with emergence of digital payments fueled by surging working age class will drive the traction of BNPL industry among the users in South Africa. Increasing demand for extra credit line with less stringent KYC procedures without relying on CIBIL scores will be traction for consumers for utilization of BNPL services. Buy Now Pay Later industry in South Africa is expanding at a CAGR of 35.1% in between 2022P and 2027E. Key Segments Covered: – South Africa BNPL Market By mode of payment (by Revenue) 2022 and 2027: Online Offline By End Users (by Revenue) 2022 and 2027: Retailers Food Merchants Travel Merchants By Age Group of Users (by Revenue) 2022 and 2027: Below 20 years 20-40 years Above 40 years 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 Request for Sample Report: – https://bit.ly/3N33ZZZ Companies Covered: TymeBank PAYJUSTNOW Mobicred PayFlex Key Topics Covered in the Report: BNPL Industry positioning Socio demographic Outlook of South Africa Presence of Global BNPL Players Trends of BPNL Industry Market size of BPNL BNPL transaction process Key Features and developments in South Africa BPNL SWOT Analysis of South Africa BNPL Issues and Challenges in South Africa BNPL Investment Analysis of players in BNPL Space Role of Government and regulations in South Africa BNPL Porter’s Five force Analysis in South Africa BPNL7 Future Market Size of BNPL For More Information on the research report, refer to below link: – Buy Now Pay Later industry in South Africa Related Reports by Ken Research: – KSA Buy Now Pay Later Market Outlook to 2027 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 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 sources Contact Us: – Ken Research Support@kenresearch.com +91-9015378249 Follow Us LinkedIn | Instagram | Facebook | Twitter Tags: Adoption of BNPL in South Africa, BNPL fintech Companies in South Africa, BNPL Latest Development in South Africa, BNPL Major Player Investment Analysis, BNPL Players Presence in Saudi Arabia, buy now pay later apps South Africa, buy now pay later Major platforms in South Africa, Buy Now Pay Later revolution In South Africa, Buy Now Pay Later Services Providers, Buy Now Pay Later solutions Providers in South Africa, Digital consumer finance space in South Africa, Digital Payments Market in South Africa, Emerging Players in South Africa BNPL Market, FinTech startup In South Africa, Future of Lending in Saudi Arabia, Installment Without Credit Card in South Africa, Investment Analysis of Major Players in BNPL Space, Investment Opportunities in South Africa BNPL Market, Leading Players in South Africa BNPL Market, Lending institutions in South Africa, Major Players in BNPL Market South Africa, Merger and Acquisition in BNPL South Africa, Mobicred South Africa Buy Now Pay Later Market Share, pay later online shopping in South Africa, PayFlex installment plan in South Africa, PAYJUSTNOW BNPL Market Revenue, post-purchase Market in South Africa, South Africa based buy now- pay later provider, South Africa BNPL Challenges, South Africa BNPL E-commerce giants, South Africa BNPL fintech Companies, South Africa BNPL Market, South Africa BNPL Market Size, South Africa BNPL Market Trends, South Africa BNPL startups, South Africa BNPL Transactions Market Size, South Africa Buy Now Pay Later Business, South Africa buy now pay later electronics Market, South Africa buy now pay later firms, South Africa Buy Now Pay Later Indsutry, South Africa Buy Now Pay Later Market, South Africa Buy Now Pay Later Market End Users, South Africa buy now pay later market growth, South Africa Buy Now Pay Later Services Market, South Africa offline BNPL Market, South Africa online BNPL Market, Startups in South Africa Buy Now Pay Later Market, Top Companies in Buy Now Pay Later South Africa, Top Funded Fintechs in South Africa, TymeBank South Africa BNPL Market Size, VC Firms in South Africa BNPL Market
