Mexico Buy Now Pay Later (BNPL) Market Introduction and Overview
According to SPER Market Research, the Mexico Buy Now Pay Later (BNPL) Market is estimated to reach USD 66.35 billion by 2033 with a CAGR 35.13%.
The report includes an in-depth analysis of the Mexico Buy Now Pay Later (BNPL) Market, including market size and trends, product mix, distribution channels, and supplier analysis. A convenient short-term financing alternative that lets customers postpone paying for products is buy now pay later (BNPL). Customers can shop in-store and online with this payment option, which is set up with an installment plan and involves financiers, merchants, and consumers, without having to pay in full right away. BNPL is a flexible finance method that may be used for a variety of purchases, from smaller, everyday items like electronics and clothes to larger, more expensive items like home renovation equipment.
Market Opportunities and Challenges
Opportunities: Due to its many benefits for customers, BNPL is becoming more and more popular. It offers a convenient way to pay for everyday expenses like cafeteria bills, as well as for expensive goods like computers and cellphones. It may also be used to pay for educational costs like tuition and supplies. Furthermore, the availability of zero-interest payment alternatives from BNPL providers increases the allure of this payment option for clients by providing them with a practical and alluring payment option. One major element propelling the expansion of the buy now pay later (BNPL) market is the merchants' embrace of these services. This trend involves more and more shops and e-commerce platforms adding BNPL payment options to their offers.
Challenges: The market for buy now pay later (BNPL) in Mexico is confronted with various obstacles that prevent its expansion and uptake. A notable hindrance is the low level of financial literacy among consumers, which may result in misinterpretations regarding the terms of repayment and possible debt accumulation. Furthermore, the regulatory landscape is still developing, and there are no precise rules controlling BNPL providers, which might put businesses and customers at danger. Furthermore, a lot of customers are still reluctant to use digital financial products because they are worried about the security and privacy of their data. Potential customers may also be wary due to economic concerns like inflation and shifting income levels.
Market Competitive Landscape
The Buy Now Pay Later (BNPL) Market in Mexico is moderately consolidated. Some of the market key players are Affirm Holdings, Inc., Atome, Block, Inc. (SquareLatitude, Openpay, PayPal Holdings, Inc., Sezzle, Scalapay, ), Klarna Bank AB (PULP), Zip Co Ltd. (Zip), Others.
Scope of the report:
| Report Metric | Details |
| Market size available for years | 2020-2033 |
| Base year considered | 2023 |
| Forecast period | 2024-2033 |
| Segments covered | By Channel, By Application, By End User
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| Regions covered | Eastern Region, Western Region, Northern Region, Southern Region
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| Companies Covered | Affirm Holdings, Inc., Atome, Block, Inc. (Square), Klarna Bank AB (PULP), Latitude, Openpay, PayPal Holdings, Inc., Sezzle, Scalapay, Zip Co Ltd. (Zip), Others.
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COVID-19 Impact on Mexico Buy Now Pay Later (BNPL) Market
The Buy Now Pay Later (BNPL) sector in Mexico was greatly affected by the COVID-19 pandemic, which also accelerated its expansion as consumers looked for flexible payment options in the face of economic instability. Many resorted to BNPL services in order to manage their finances while still having access to necessities in the face of lockdowns and job losses. This change led to a boom in e-commerce and a rise in the use of BNPL solutions by retailers and customers alike. The economic consequences, however, also sparked worries about the amount of consumer debt since some people found it difficult to fulfill their repayment commitments due to financial instability.
Key Target Audience:
- Young Consumers (Gen Z and Millennials)
- E-commerce Shoppers
- Lower to Middle-Income Individuals
- Budget-Conscious Consumers
- First-Time Credit Users
- Tech-Savvy Users
Our in-depth analysis of the Mexico Buy Now Pay Later (BNPL) Market includes the following segments:
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By Channel:
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Online
Point of Sale (PoS)
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By Application:
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Retail Goods
Media & Entertainment
Healthcare & Wellness
Automotive
Home Improvement
Others
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By End User:
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Generation X
Generation Z/Millennials
Baby Boomers
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Key Topics Covered in the Report:
- Mexico Buy Now Pay Later (BNPL) Market Size (FY’2024-FY’2033)
- Overview of Mexico Buy Now Pay Later (BNPL) Market
- Segmentation of Mexico Buy Now Pay Later (BNPL) Market By Channel {Online
- Point of Sale (PoS)}
- Segmentation of Mexico Buy Now Pay Later (BNPL) Market By Application (Retail Goods, Media & Entertainment, Healthcare & Wellness, Automotive, Home Improvement, Others)
- Segmentation of Mexico Buy Now Pay Later (BNPL) Market By End User (Generation X, Generation Z/Millennials, Baby Boomers)
- Expansion Analysis of Mexico Buy Now Pay Later (BNPL) Market
- Problems and Obstacles in Mexico Buy Now Pay Later (BNPL) Market
- Competitive Landscape in the Mexico Buy Now Pay Later (BNPL) Market
- Impact of COVID-19 and Demonetization on Mexico Buy Now Pay Later (BNPL) Market
- Details on Current Investment in Mexico Buy Now Pay Later (BNPL) Market
- Competitive Analysis of Mexico Buy Now Pay Later (BNPL) Market
- Prominent Players in the Mexico Buy Now Pay Later (BNPL) Market
- SWOT Analysis of Mexico Buy Now Pay Later (BNPL) Market
- Mexico Buy Now Pay Later (BNPL) 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 Mexico Buy Now Pay Later (BNPL) 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. Mexico Buy Now Pay Later (BNPL) Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Mexico Buy Now Pay Later (BNPL) Market
7. Mexico Buy Now Pay Later (BNPL) Market, By Channel (USD Million) 2020-2033
7.1. Mexico Buy Now Pay Later (BNPL) Market Size, Share and Forecast, By Channel, 2020-2026
7.2. Mexico Buy Now Pay Later (BNPL) Market Size, Share and Forecast, By Channel, 2027-2033
7.3. Online
7.4. Point of Sale (PoS)
8. Mexico Buy Now Pay Later (BNPL) Market, By Application (USD Million) 2020-2033
8.1. Mexico Buy Now Pay Later (BNPL) Market Size, Share and Forecast, By Application, 2020-2026
8.2. Mexico Buy Now Pay Later (BNPL) Market Size, Share and Forecast, By Application, 2027-2033
8.3. Retail Goods
8.4. Media & Entertainment
8.5. Healthcare & Wellness
8.6. Automotive
8.7. Home Improvement
8.8. Others
9. Mexico Buy Now Pay Later (BNPL) Market, By End User (USD Million) 2020-2033
9.1. Mexico Buy Now Pay Later (BNPL) Market Size, Share and Forecast, By End User, 2020-2026
9.2. Mexico Buy Now Pay Later (BNPL) Market Size, Share and Forecast, By End User, 2027-2033
9.3. Generation X
9.4. Generation Z/Millennials
9.5. Baby Boomers
10. Mexico Buy Now Pay Later (BNPL) Market Forecast, 2020-2033 (USD Million)
10.1. Mexico Buy Now Pay Later (BNPL) Market Size and Market Share
11. Mexico Buy Now Pay Later (BNPL) Market, By Region, 2020-2033 (USD Million)
11.1. Mexico Buy Now Pay Later (BNPL) Market Size and Market Share By Region (2020-2026)
11.2. Mexico Buy Now Pay Later (BNPL) Market Size and Market Share By Region (2027-2033)
11.3. Eastern Region
11.4. Western Region
11.5. Northern Region
11.6. Southern Region
12. Company Profile
12.1. Affirm Holdings, Inc.
12.1.1. Company details
12.1.2. Financial outlook
12.1.3. Product summary
12.1.4. Recent developments
12.2. Atome
12.2.1. Company details
12.2.2. Financial outlook
12.2.3. Product summary
12.2.4. Recent developments
12.3. Block, Inc. (Square)
12.3.1. Company details
12.3.2. Financial outlook
12.3.3. Product summary
12.3.4. Recent developments
12.4. Klarna Bank AB (PULP)
12.4.1. Company details
12.4.2. Financial outlook
12.4.3. Product summary
12.4.4. Recent developments
12.5. Latitude
12.5.1. Company details
12.5.2. Financial outlook
12.5.3. Product summary
12.5.4. Recent developments
12.6. Openpay
12.6.1. Company details
12.6.2. Financial outlook
12.6.3. Product summary
12.6.4. Recent developments
12.7. PayPal Holdings, Inc
12.7.1. Company details
12.7.2. Financial outlook
12.7.3. Product summary
12.7.4. Recent developments
12.8. Sezzle
12.8.1. Company details
12.8.2. Financial outlook
12.8.3. Product summary
12.8.4. Recent developments
12.9. Scalapay
12.9.1. Company details
12.9.2. Financial outlook
12.9.3. Product summary
12.9.4. Recent developments
12.10. Zip Co Ltd. (Zip)
12.10.1. Company details
12.10.2. Financial outlook
12.10.3. Product summary
12.10.4. Recent developments
12.11. Others
13. Conclusion
14. Reference Links
15. List of Abbreviations
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.
