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

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

  • August 2021 •
  • 50 pages •
  • Report ID: 6131259 •
  • Format: PDF
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.

According to PayNXT360’s Q2 2021 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.

Scope of the report
This report provides in-depth, data-centric analysis of Buy Now Pay Later industry in Singapore. Below is a summary of key market segments:
Singapore BNPL Market Size and Spending Pattern
• Gross Merchandise Value Trend Analysis
• Average Value Per Transaction Trend Analysis
• Transaction Volume Trend Analysis
Singapore Buy Now Pay Later Operational KPIs
• Buy Now Pay Later Revenues, 2019 – 2028
• Buy Now Pay Later Share by Revenue Segments
• Buy Now Pay Later Merchant Commission, 2019 – 2028
• Buy Now Pay Later Missed Payment Fee Revenue, 2019 – 2028
• Buy Now Pay Later Pay Now & Other Income, 2019 – 2028
• Buy Now Pay Later Active Consumer Base, 2019 – 2028
• Buy Now Pay Later Bad Debt, 2019 – 2028
Singapore Buy Now Pay Later Market Share Analysis by Key Players
Singapore Buy Now Pay Later Spend Analysis by Channel: Market Size and Forecast
• Online Channel
• POS Channel
Singapore Buy Now Pay Later in Retail Shopping: Market Size and Forecast
• Gross Merchandise Value Trend Analysis
• Average Value Per Transaction Trend Analysis
• Transaction Volume Trend Analysis
Singapore Buy Now Pay Later in Home Improvement: Market Size and Forecast
• Gross Merchandise Value Trend Analysis
• Average Value Per Transaction Trend Analysis
• Transaction Volume Trend Analysis
Singapore Buy Now Pay Later in Leisure & Entertainment: Market Size and Forecast
• Gross Merchandise Value Trend Analysis
• Average Value Per Transaction Trend Analysis
• Transaction Volume Trend Analysis
Singapore Buy Now Pay Later in Healthcare and Wellness: Market Size and Forecast
• Gross Merchandise Value Trend Analysis
• Average Value Per Transaction Trend Analysis
• Transaction Volume Trend Analysis
Singapore Buy Now Pay Later in Other: Market Size and Forecast
• Gross Merchandise Value Trend Analysis
• Average Value Per Transaction Trend Analysis
• Transaction Volume Trend Analysis
Singapore Buy Now Pay Later Analysis by Consumer Attitude and Behaviour
• Buy Now Pay Later Sales Uplift by Product Category
• Buy Now Pay Later Spend Share by Age Group
• Buy Now Pay Later Gross Merchandise Share by Income
• Buy Now Pay Later Gross Merchandise Value Share by Gender
• Buy Now Pay Later Adoption Rationale Gross Merchandise Value Analysis

Reasons to purchase
• In-depth Understanding of Buy Now Pay Later Market Dynamics: Understand market opportunities and key trends along with forecast (2019-2028). Understand market dynamics through essential KPIs such as Gross Merchandise Value, Volume, and Average Value Per Transaction.

• Insights into Opportunity by end-use sectors – Get market dynamics by end-use sectors to assess emerging opportunity across various end-use sectors.

• Develop Market Specific Strategies: Identify growth segments and target specific opportunities to formulate BNPL strategy; assess market specific key trends, drivers, and risks in the BNPL industry.

• Get Insights into Consumer Attitude and Behaviour: Drawing from proprietary survey results, this report identifies and interprets key Buy Now Pay Later KPIs, including spend by age, gender, and income level.

• Market Share by Key Players
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