Global Buy Now Pay Later Platforms Market Overview:
The term ‘Buy now pay later is referring to the customer taking home their purchase but paying for it over time. Pay later shopping typically referred to an interest-free period following the purchase, during which no payments were made and no interest charged. However, after this interest-free period, payment in full was expected otherwise the interest from the original time of purchase was added. The advantage of Buy Now Pay Later (BNPL) for shoppers is the potential to pay no interest if payments met on time or the entire amount is paid off by the time the loan period ends which is boosting the market.
- Increased Number of Internet Users
- Wide Number of Benefits offered by BNPL Platforms
- Advancement in Technology
- Increasing Complaints of the Users regarding the High Late Fees and Mounting Debts
- Growth in E-commerce Industry
- Growth in Developing Countries
- Lack of Awareness among the User
The companies operating in these industries are focusing more towards on efficient growth, improvement of operational efficiency and productivity, achieving high safety standards, and focus on maintaining sustainable development. The players are focusing on securing a leading position in this industry. They are continuously looking for the opportunity to reinforce their competitive advantage. To meet high market share, and developing socially responsible business company are identifying various strategic pillars such as mergers & acquisitions, new product launches, product enhancement, and others.
Some of the key players profiled in the report are Afterpay (Australia), Zippay (Australia), VISA (United States), Sezzle (United States), Affirm (United States), Paypal (United States), Splitit (United States), Latitude Financial Services (Australia), Klarna (Sweden), Flexigroup (Australia) and Openpay (Australia). Analyst at AMA Research see United States Players to retain maximum share of Global Buy Now Pay Later Platforms market by 2026. Considering Market by End User Industry, the sub-segment i.e. Fashion & Garment Industry will boost the Buy Now Pay Later Platforms market. Considering Market by End User, the sub-segment i.e. SMEs will boost the Buy Now Pay Later Platforms market.
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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The top-down and bottom-up approaches are used to estimate and validate the size of the Global Buy Now Pay Later Platforms market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Buy Now Pay Later Platforms market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Venture Capitalists and Private Equity Firms, New Entrants/Investors, Analysts and Strategic Business Planners, Buy Now Pay Later Platforms Providers, Government Regulatory and Research Organizations and End-Use Industries.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.