South Africa Buy Now Pay Later Markets and Investment Opportunities Report 2021-2028 Featuring Payflex, Payjustnow, TymeBank, Mobicred

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Sep 22, 2021, 14:45 ET

DUBLIN, Sept. 22, 2021 /PRNewswire/ -- The "South Africa 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" report has been added to ResearchAndMarkets.com's offering.

The buy now, pay later (BNPL) payment method is gaining popularity in South Africa. The adoption of deferred payment methods has experienced an increase of close to 31% in South Africa in 2020.

According to the publisher, more than 73% of consumers are looking for financing at the early stages of their purchasing journey. Moreover, According to the Q2 2021 BNPL Survey, BNPL payment in the country is expected to grow by 66.9% on annual basis to reach US$ 294.1 million in 2021. This could inform the substantial rise in the adoption of deferred payment in the country.

In South Africa, online merchants are also experiencing higher average order values, larger purchases, and significant growth in their revenue when provided with a BNPL payment method. Consequently, BNPL is expected to support the growth of the e-commerce sector in the region as more and more retailers are offering split payment methods.

There are a few financial technology startups that are offering consumers a BNPL payment method. For instance, Payflex, PayJustNow, and Mobicred are some BNPL providers that allow consumers to split their purchases inflexible and interest-free installments.

Notably, PayJustNow is the first BNPL provider offering merchants and consumers the BNPL payment method. The BNPL provider has revolutionized the digital payment sector in the country, which is reflected in the growing list of merchants who are partnering with the BNPL service to make shopping more convenient and easier for consumers in South Africa. As of October 2020, PayJustNow has more than 40,000 users registered on its platform.

Medium to long term growth story of BNPL industry in South Africa remains strong. The BNPL payment adoption is expected to grow steadily over the forecast period, recording a CAGR of 28.2% during 2021-2028. The BNPL Gross Merchandise Value in the country will increase from US$ 176.2 million in 2020 to reach US$ 1,673.7 million by 2028.

Scope

South Africa BNPL Market Size and Spending Pattern

Gross Merchandise Value Trend Analysis
Average Value Per Transaction Trend Analysis
Transaction Volume Trend Analysis

South Africa Buy Now Pay Later Spend Analysis by Channel: Market Size and Forecast

Online Channel
POS Channel

South Africa 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

South Africa 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

South Africa 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

South Africa 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

South Africa Buy Now Pay Later in Education: Market Size and Forecast

Gross Merchandise Value Trend Analysis
Average Value Per Transaction Trend Analysis
Transaction Volume Trend Analysis

South Africa Buy Now Pay Later in Automotive: Market Size and Forecast

Gross Merchandise Value Trend Analysis
Average Value Per Transaction Trend Analysis
Transaction Volume Trend Analysis

South Africa 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

Companies Mentioned

Payflex
Payjustnow
TymeBank
Mobicred

For more information about this report visit https://www.researchandmarkets.com/r/v35ffa

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