Singapore Buy Now Pay Later Market Recent Developments, Emerging Trends and Business Outlook with forecast to 2025

The “Singapore Buy Now Pay Later Market” report offers qualitative and quantitative insights and a detailed analysis of market size & growth rate for all possible segments in the market. The Singapore Buy Now Pay Later Industry present a market overview, product details, classification, and market concentration. The report also provides an in-depth survey of key players in the market which is based on various competitive intelligence parameters like company profiles, product picture and specification, capacity, production, price, cost, revenue, and contact information. The Singapore Buy Now Pay Later Market report provides an in-depth study of SWOT analysis i.e. Strength, Weakness, Opportunities, and Threat to the organization.

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Market Overview:

In Singapore, the growing adoption of deferred payment services in times of the global pandemic is evident from the substantial increase in transaction volume, sales value, merchant growth, and consumer growth experienced by Hoolah, the Singapore-based BNPL provider. According to Hoolah, the BNPL service experienced more than 1,500% growth in transactions, over 800% increase in sales value, and more than 400% merchant and consumer growth during the pandemic.

BNPL Survey, BNPL payment in the country is expected to grow by 51.3% on annual basis to reach US$ 560.9 million in 2021. The e-commerce market is also a significant factor for the growth of the deferred payment industry in the country. However, the BNPL industry accounts for a small percentage of the total value of the e-commerce market in Singapore. Homegrown BNPL solution, Rely, was the first deferred payment service in Singapore in 2017. Since then, several other BNPL solutions such as Hoolah, Atome, OctiFi, Pace, and Grab have entered the BNPL segment in Singapore. PayNXT360 expects the BNPL transactions to increase substantially in the online e-commerce market over Singapore’s next four to eight quarters.

In Singapore, FinTech firms are partnering with BNPL companies to support merchant partners. As more and more consumers adopt the flexible payment solution, the demand for BNPL payment options is also increasing among offline and online retailers. Consequently, FinTech firms are partnering with BNPL providers to allow their merchant partners to offer BNPL payment options to their customers. For instance,

In April 2021, Fomo Pay, the mobile payment processing solution, entered into a strategic partnership with Singapore-based BNPL startup, Atome. Under the collaboration, Fomo Pay will be offering BNPL services to its offline and online retail partners in Singapore and across Asia. The strategic partnership between Fomo Pay and Atome will allow merchants of all sizes to offer their consumers a deferred payment option.

Medium to long term growth story of BNPL industry in Singapore remains strong. The BNPL payment adoption is expected to grow steadily over the forecast period, recording a CAGR of 21.0% during 2021-2028. The BNPL Gross Merchandise Value in the country will increase from US$ 370.8 million in 2020 to reach US$ 2,135.2 million by 2028.

In Singapore, FinTech firms are partnering with BNPL companies to support merchant partners. In April 2021, Fomo Pay, the mobile payment processing solution, entered into a strategic partnership with Singapore-based BNPL startup, Atome. Under the collaboration, Fomo Pay will be offering BNPL services to its offline and online retail partners in Singapore.

Browse the report description and TOC:

https://www.marketinsightsreports.com/reports/10133345686/singapore-buy-now-pay-later-business-and-investment-opportunities-2019-2028-75-kpis-on-buy-now-pay-later-trends-by-end-use-sectors-operational-kpis-market-share-retail-product-dynamics-and-consumer-demographics?Mode=28

The study objectives of this report are:

  • To study and analyze the Singapore Buy Now Pay Later size (value and volume) by the company, key regions/countries, products and application, history data from 2020 to 2024, and forecast to 2025.
  • To understand the structure of Buy Now Pay Later by identifying its various sub-segments.
  • To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
  • Focuses on the key Singapore Buy Now Pay Later manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis, and development plans in the next few years.
  • To analyze the Buy Now Pay Later with respect to individual growth trends, future prospects, and their contribution to the total market.
  • To project the value and volume of Buy Now Pay Later submarkets, with respect to key regions (along with their respective key countries).
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
  • To strategically profile the key players and comprehensively analyze their growth strategies.

The research includes historic data from 2015 to 2021 and forecasts until 2025 which makes the report an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and stakeholders looking for key industry data in readily accessible documents with clearly presented tables and graphs.

Customization of the Report: This report can be customized as per your needs for additional data up to 3 companies or countries or 40 analyst hours.

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