New York, 21 Feb. 2022 (GLOBE NEWSWIRE) — Reportlinker.com Announces Release of “Southeast Asian Buy Now Pay Later Growth Opportunities” Report – https://www.reportlinker.com/p06231948/?utm_source=GNW
The solution allows consumers to make monthly payments within three to six months without interest charges. BNPL solutions are increasingly available online and in physical stores. The Southeast Asian BNPL space is highly fragmented and competitive, comprising BNPL providers, eCommerce businesses, multi-service providers and banks. Highly funded participants dominate the market, potentially pushing weaker participants into long-term bankruptcy. Market consolidation is underway and is expected to continue as larger participants acquire smaller ones. Domestic participants will embrace consolidation for more capital and market share to compete with major global BNPL providers, which are expected to enter the market in the region. Next-generation technologies in lending and payment solutions, combined with big data, artificial intelligence and machine learning, will help BNPL stakeholders deliver services more efficiently and securely. These technologies allow providers to map customer profiles based on credit history, spending habits and social media analytics for a comprehensive assessment of customer creditworthiness and risk to improve the underwriting process. credit. Cutting-edge technologies are key to driving market growth. Cloud-hosted and modular solutions to meet merchant and end-customer needs will be widely adopted by BNPL vendors. These providers are likely to expand their service portfolio with holistic solutions. Increasing collaborations between banks, key regional payment providers and local stakeholders, such as merchant aggregators and payment acquirers, will accelerate growth opportunities for BNPL startups.BNPL with technology strategies Promising breakthroughs and investment support, such as Kredivo, Atome and Akulaku, have established their foundations and generated profits. These providers are aggressively expanding their footprint in emerging markets to expand their customer base while enhancing BNPL’s capabilities. Other players in the BNPL market, such as established e-commerce companies (Shopee, Lazada, Traveloka) and ride-sharing companies (Grab, GoJek) have transformed their businesses to offer value-added services, including BNPL solutions , and create new sources of revenue. E-commerce and mobile commerce (mCommerce) are critically driving the adoption of BNPL and will continue to do so for the long term. The study covers the BNPL market in major Southeast Asian countries: Indonesia, Cambodia, Malaysia, Philippines, Singapore, Thailand and Vietnam. The study bases the market overview on both online and physical/in-store merchants, offering insights on major companies in the region and providing market forecast discussions and total transaction volume forecasts based on growth drivers and market constraints.
Author: Dewi Rengganis
Read the full report: https://www.reportlinker.com/p06231948/?utm_source=GNW
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