Saudi Arabia Buy Now Pay Later Market Growth, Size, Trends, Share, Demand and Future Outlook

Saudi Arabia Buy Now Pay Later (BNPL) Market Size- By Channel, By Enterprise Size, By End User- Regional Outlook, Competitive Strategies and Segment Forecast to 2033

Saudi Arabia Buy Now Pay Later (BNPL) Market Size- By Channel, By Enterprise Size, By End User- Regional Outlook, Competitive Strategies and Segment Forecast to 2033

Published: Jun 2024 Report ID: IACT24113 Pages: 1 - 102 Formats*:     
Category : Information & Communications Technology
Saudi Arabia Buy Now Pay Later Market Introduction and Overview 

According to SPER Market Research, the Saudi Arabia Buy Now Pay Later Market is estimated to reach USD XX billion by 2033 with a CAGR of XX%.

The report includes an in-depth analysis of the Saudi Arabia Buy Now Pay Later Market, including market size and trends, product mix, applications, and supplier analysis. A financial service known as "Buy Now, Pay Later" (BNPL) enables customers to buy purchases and pay for them over time using installments plans. If payments are made within a certain amount of time, the service frequently comes with no interest or penalties. This service offers instant ownership of goods or services with deferred payment, usually split into equal amounts over a few weeks or months, as an alternative to traditional credit. A popular feature of online and brick-and-mortar retailers, buy now pay later (BNPL) alternatives appeal to customers who want budget flexibility and convenience without having to worry about interest-bearing credit.

  • June 2022; In order to give businesses with more cutting-edge and widely used payment options, Postpay, a prominent BNPL provider in the Middle East, teamed up with Tap Payments.
  • January 2023; Together, the shopping and payment app Tabby and the delivery app ToYou, which was founded in Saudi Arabia, are launching a new BNPL service in the nation.
Saudi Arabia Buy Now Pay Later Market
Market Opportunities and Challenges

Opportunities: A number of significant variables, such as the rising e-commerce penetration rate, the younger and tech-savvy population, and the trend towards digital payments, are responsible for the Buy Now, Pay Later (BNPL) market's explosive rise in Saudi Arabia. Furthermore, the ease of use and adaptability provided by BNPL solutions satisfy customer needs for easy-to-use credit options, especially for Gen Z and millennials who value budgeting and quick satisfaction. Along with agreements between BNPL providers and major shops wanting to enhance sales and customer loyalty, supportive legislative frameworks and the advent of creative fintech businesses further support the market.

Challenges: The Saudi Arabian "Buy Now, Pay Later" (BNPL) sector is confronted with a number of obstacles, including regulatory oversight as financial regulators attempt to safeguard consumers and avoid excessive debt. Gaining customer trust in a relatively new financial product is another difficulty, especially with individuals who are cautious about taking on debt. In addition, there are a lot of domestic and foreign competitors fighting for market share, making the industry more and more competitive. Moreover, it can be difficult and resource-intensive to integrate BNPL services with merchants and guarantee smooth user experiences across various platforms and channels.

Saudi Arabia Buy Now Pay Later Market


Market Competitive Landscape
The Saudi Arabian "Buy Now, Pay Later" (BNPL) market is fiercely competitive, with both domestic and foreign companies fighting for market share in a sector that is changing quickly. Furthermore, conventional financial institutions and payment processors are joining the BNPL market by introducing their own products or forming alliances with already-established BNPL suppliers to provide their clients with adaptable payment choices. The key players of this market are Afterpay, Cashew Payments, Hala, Lendo, Payfort, Postpay, Qisstpay, Spotii, Stc Pay, Tabby, Tamara, Others

Scope of the Report:
 Report Metric Details
 Market size available for years 2020-2033
 Base year considered 2023
 Forecast period 2024-2033
 Segments coveredBy Channel, By Enterprise Size, By End User
 Regions covered
Riyadh, Jeddah, Dammam, Rest of Saudi Arabia
 Companies Covered
Afterpay, Cashew Payments, Hala, Lendo, Payfort, Postpay, Qisstpay, Spotii, Stc Pay, Tabby, Tamara.
COVID-19 Impact on Saudi Arabia Buy Now Pay Later Market
The "Buy Now, Pay Later" (BNPL) business has been significantly impacted by the COVID-19 pandemic, both internationally and in Saudi Arabia. At first, the pandemic brought about economic uncertainty and decreased consumer spending, which resulted in a brief halt for some BNPL providers as consumers started to become more frugal with their money. But as the virus spread, lockdowns and social distancing tactics reduced in-person retail options, which resulted in a noticeable shift towards internet shopping. With more customers choosing flexible payment methods to complete purchases without upfront expenses, the adoption of BNPL services has accelerated due to the increase in e-commerce activity.

Key Target Audience:
  • Millennials and Gen Z
  • Tech-Savvy Shoppers
  • Budget-Conscious Buyers
  • Online Shoppers
  • Emerging Middle Class
  • Small Businesses
Our in-depth analysis of the Saudi Arabia Buy Now Pay Later Market includes the following segments:
By Channel:
  • Online
  • Point of Sale(POS)
  • By Enterprise Size:
  • Large Enterprises
  • Small and Medium Enterprises
  • By End User:
  • Consumer Electronics
  • Fashion and Garment
  • Healthcare
  • Leisure and Entertainment
  • Retail
  • Others
  • Key Topics Covered in the Report:
    • Saudi Arabia Buy Now Pay Later Market Size (FY’2024-FY’2033)
    • Overview of Saudi Arabia Buy Now Pay Later Market
    • Segmentation of Saudi Arabia Buy Now Pay Later Market By Channel (Online, Point of Sale)
    • Segmentation of Saudi Arabia Buy Now Pay Later Market By Enterprise Size (Large Enterprises, Small and Medium Enterprises)
    • Segmentation of Saudi Arabia Buy Now Pay Later Market By End User (Consumer, Electronics, Fashion and Garment, Healthcare, Leisure and Entertainment, Retail, Others)
    • Statistical Snap of Saudi Arabia Buy Now Pay Later Market
    • Expansion Analysis of Saudi Arabia Buy Now Pay Later Market
    • Problems and Obstacles in Saudi Arabia Buy Now Pay Later Market
    • Competitive Landscape in the Saudi Arabia Buy Now Pay Later Market
    • Impact of COVID-19 and Demonetization on Saudi Arabia Buy Now Pay Later Market
    • Details on Current Investment in Saudi Arabia Buy Now Pay Later Market
    • Competitive Analysis of Saudi Arabia Buy Now Pay Later Market
    • Prominent Players in the Saudi Arabia Buy Now Pay Later Market
    • SWOT Analysis of Saudi Arabia Buy Now Pay Later Market
    • Saudi Arabia Buy Now Pay Later Market Future Outlook and Projections (FY’2024-FY’2033)
    • Recommendations from Analyst
    1. Introduction
    1.1. Scope of the report
    1.2. Market segment analysis

    2. Research Methodology
    2.1. Research data source
    2.1.1. Secondary Data
    2.1.2. Primary Data
    2.1.3. SPER’s internal database
    2.1.4. Premium insight from KOL’s
    2.2. Market size estimation
    2.2.1. Top-down and Bottom-up approach
    2.3. Data triangulation

    3. Executive Summary

    4. Market Dynamics
    4.1. Driver, Restraint, Opportunity and Challenges analysis
    4.1.1. Drivers
    4.1.2. Restraints
    4.1.3. Opportunities
    4.1.4. Challenges
    4.2. COVID-19 Impacts of the Saudi Arabia Buy Now Pay Later Market.

    5. Market variable and outlook
    5.1. SWOT Analysis
    5.1.1. Strengths
    5.1.2. Weaknesses
    5.1.3. Opportunities
    5.1.4. Threats
    5.2. PESTEL Analysis
    5.2.1. Political Landscape
    5.2.2. Economic Landscape
    5.2.3. Social Landscape
    5.2.4. Technological Landscape
    5.2.5. Environmental Landscape
    5.2.6. Legal Landscape
    5.3. PORTER’s Five Forces 
    5.3.1. Bargaining power of suppliers
    5.3.2. Bargaining power of buyers
    5.3.3. Threat of Substitute
    5.3.4. Threat of new entrant
    5.3.5. Competitive rivalry
    5.4. Heat Map Analysis

    6. Competitive Landscape
    6.1. Saudi Arabia Buy Now Pay Later Market Manufacturing Base Distribution, Sales Area, Product Type 
    6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Saudi Arabia Buy Now Pay Later Market

    7. Saudi Arabia Buy Now Pay Later Market, By Channel (USD Million) 2020-2033
    7.1. Saudi Arabia Buy Now Pay Later Market Size, Share and Forecast, By Channel, 2020-2026
    7.2. Saudi Arabia Buy Now Pay Later Market Size, Share and Forecast, By Channel, 2027-2033
    7.3. Online
    7.4. Point of Sale(POS)

    8. Saudi Arabia Buy Now Pay Later Market, By Enterprise Size (USD Million) 2020-2033
    8.1. Saudi Arabia Buy Now Pay Later Market Size, Share and Forecast, By Enterprise Size, 2020-2026
    8.2. Saudi Arabia Buy Now Pay Later Market Size, Share and Forecast, By Enterprise Size, 2027-2033
    8.3. Large Enterprises
    8.4. Small and Medium Enterprises

    9. Saudi Arabia Buy Now Pay Later Market, By End User (USD Million) 2020-2033
    9.1. Saudi Arabia Buy Now Pay Later Market Size, Share and Forecast, By End User, 2020-2026
    9.2. Saudi Arabia Buy Now Pay Later Market Size, Share and Forecast, By End User, 2027-2033
    9.3. Consumer Electronics
    9.4. Fashion and Garment
    9.5. Healthcare
    9.6. Leisure and Entertainment
    9.7. Retail
    9.8. Others

    10. Saudi Arabia Buy Now Pay Later Market Forecast, 2020-2033 (USD Million)
    10.1. Saudi Arabia Buy Now Pay Later Market Size and Market Share

    11. Saudi Arabia Buy Now Pay Later Market, By Region, 2020-2033 (USD Million)
    11.1. Saudi Arabia Buy Now Pay Later Market Size and Market Share By Region (2020-2026)
    11.2. Saudi Arabia Buy Now Pay Later Market Size and Market Share By Region (2027-2033) 
    11.2.1. Riyadh
    11.2.2. Jeddah
    11.2.3. Dammam
    11.2.4. Rest of Saudi Arabia

    12. Company Profile
    12.1. AFTERPAY
    12.1.1. Company details
    12.1.2. Financial outlook
    12.1.3. Product summary 
    12.1.4. Recent developments
    12.2. CASHEW PAYMENTS
    12.2.1. Company details
    12.2.2. Financial outlook
    12.2.3. Product summary 
    12.2.4. Recent developments
    12.3. HALA
    12.3.1. Company details
    12.3.2. Financial outlook
    12.3.3. Product summary 
    12.3.4. Recent developments
    12.4. LENDO
    12.4.1. Company details
    12.4.2. Financial outlook
    12.4.3. Product summary 
    12.4.4. Recent developments
    12.5. PAYFORT
    12.5.1. Company details
    12.5.2. Financial outlook
    12.5.3. Product summary 
    12.5.4. Recent developments
    12.6. POSTPAY
    12.6.1. Company details
    12.6.2. Financial outlook
    12.6.3. Product summary 
    12.6.4. Recent developments
    12.7. QISSTPAY
    12.7.1. Company details
    12.7.2. Financial outlook
    12.7.3. Product summary 
    12.7.4. Recent developments
    12.8. SPOTII
    12.8.1. Company details
    12.8.2. Financial outlook
    12.8.3. Product summary 
    12.8.4. Recent developments
    12.9. STC PAY
    12.9.1. Company details
    12.9.2. Financial outlook
    12.9.3. Product summary 
    12.9.4. Recent developments
    12.10. TABBY
    12.10.1. Company details
    12.10.2. Financial outlook
    12.10.3. Product summary 
    12.10.4. Recent developments
    12.11. TAMARA
    12.11.1. Company details
    12.11.2. Financial outlook
    12.11.3. Product summary 
    12.11.4. Recent developments
    12.12. OTHERS 
     
    13. Conclusion

    14. List of Abbreviations

    15. Reference Links

    SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.

    The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings.  The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.

    SPER-Methodology-1

    SPER-Methodology-2

    SPER-Methodology-3


    Frequently Asked Questions About This Report
    Saudi Arabia Buy Now Pay Later Market is projected to reach USD XX billion by 2033, growing at a CAGR of XX% during the forecast period.
    Saudi Arabia Buy Now Pay Later Market grew in market size from 2024. The Market is expected to reach USD XX billion by 2033, at a CAGR of XX% during the forecast period.
    Saudi Arabia Buy Now Pay Later Market CAGR of XX% during the forecast period.
    Saudi Arabia Buy Now Pay Later Market size is USD XX billion from 2024 to 2033.
    Saudi Arabia Buy Now Pay Later Market Segment is Covered By Channel, By Enterprise Size, By End User
    The Middle East region is anticipated to have the highest market share in Saudi Arabia Buy Now Pay Later Market.
    The key players in the market include Companies Covered Afterpay, Cashew Payments, Hala, Lendo, Payfort, Postpay, Qisstpay, Spotii, Stc Pay, Tabby, Tamara.
    The Saudi Arabian "Buy Now, Pay Later" (BNPL) sector is confronted with a number of obstacles, including regulatory oversight as financial regulators attempt to safeguard consumers and avoid excessive debt.
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