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

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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.

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.

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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 covered	By 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 (FYâ€™2024-FYâ€™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 (FYâ€™2024-FYâ€™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. SPERâ€™s internal database
2.1.4. Premium insight from KOLâ€™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. PORTERâ€™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

How big is Saudi Arabia Buy Now Pay Later Market?

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.

What is the growth rate of Saudi Arabia Buy Now Pay Later Market?

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.

What is the anticipated CAGR of Saudi Arabia Buy Now Pay Later Market during the forecast period?

Saudi Arabia Buy Now Pay Later Market CAGR of XX% during the forecast period.

How can I get a sample report on Saudi Arabia Buy Now Pay Later Market?

You can get the sample pages by clicking the link -Click Here

What is the market size of Saudi Arabia Buy Now Pay Later Market?

Saudi Arabia Buy Now Pay Later Market size is USD XX billion from 2024 to 2033.

Which segment is expected to lead Saudi Arabia Buy Now Pay Later Market?

Saudi Arabia Buy Now Pay Later Market Segment is Covered By Channel, By Enterprise Size, By End User

Which region is expected to have the highest market share in Saudi Arabia Buy Now Pay Later Market?

The Middle East region is anticipated to have the highest market share in Saudi Arabia Buy Now Pay Later Market.

Who are the key players 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.

What is the conclusion of Saudi Arabia Buy Now Pay Later Market?

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.