Buy Now Pay Later Services KSA Market Size

Report on Industry Size & Market Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Report On the Buy Now Pay Later Services Market in Saudi Arabia is Segmented by Channel (Online and POS) and End-User Type (Kitchen Appliances, Other Consumer Electronics, Fashion and Personal Care, Healthcare, and Other End-User Types). The Report Offers Market Size and Forecasts for in Terms of Revenue (USD) for all the Above Segments.

Saudi Arabia Buy Now Pay Later Services Market Size

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Saudi Arabia Buy Now Pay Later Services Market Summary
Study Period 2020 - 2029
Base Year For Estimation 2023
Market Size (2024) USD 1.40 Billion
Market Size (2029) USD 2.80 Billion
CAGR (2024 - 2029) > 10.00 %
Market Concentration Low

Major Players

Saudi Arabia Buy Now Pay Later Services Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Saudi Arabia Buy Now Pay Later Services Market Analysis

The Saudi Arabia Buy Now Pay Later Services Market size is estimated at USD 1.40 billion in 2024, and is expected to reach USD 2.80 billion by 2029, growing at a CAGR of greater than 10% during the forecast period (2024-2029).

In Saudi Arabia, the adoption of buy-now-pay-later services is witnessing an increase due to the widespread growth of e-commerce platforms. With the buy-now-pay-later payment service, consumers can shop online or in-store by selecting the BNPL service and receiving the products without making an upfront payment. The buy now pay later service provides customers with convenient and flexible purchases and helps in managing expenses.

The emergence of digitalization in retail and e-commerce platforms in Saudi Arabia changed the shopping behavior of customers, which supported the growth of the market. The easy access to buy now pay later services using smartphones and online platforms improved the customer experience, leading to the growth of buy now pay later services in the country.

Many new players are entering the buy now pay later services market in Saudi Arabia and introducing many innovative products. To meet the increasing demand for buy now pay later services firms in Saudi Arabia, market players are raising funds substantially, focussing on large gross merchandise value and volume in the market.

Saudi Arabia Buy Now Pay Later Services Market Trends

Raising E-Commerce Platforms with Online Payment Methods Drives the Market

  • The increased adoption of online payment methods in industries such as banking, health insurance, retail, and consumer goods is driving the buy now pay later services market in Saudi Arabia.
  • However, the buy now pay later services increase the conversion rates in online shopping platforms. Due to the flexible payment systems, e-commerce stores gain successful transactions. 
  • Notably, the increasing awareness about consumer electronic devices and health insurance services also boosts the growth of the market.
  • Due to these factors, the buy now, pay later service market in Saudi Arabia is expected to grow during the forecast period.
Saudi Arabia Buy Now Pay Later Services Market :  Percent of Retailers Using BNPL Services in KSA, 2022

Increased Adoption of Large Enterprises Drives the Market

Large enterprises in Saudi Arabia are increasingly adopting buy now, pay later services, driving the market. Many large-scale businesses with high-order values provide buy now, pay later services to their clients to boost sales and customer loyalty. Since large industries in the country have invested in cutting-edge technology, they can collaborate with top BNPL providers to provide convenient payment options.

Saudi Arabia Buy Now Pay Later Services Market : Number Of Retail Customers Registered With Buy Now Pay Later (BNPL), In Million, Saudi Arabia, 2021 - 2022

Saudi Arabia Buy Now Pay Later Services Industry Overview

The buy now, pay later services market in Saudi Arabia is fragmented. A large number of players are entering the market with approval from the Central Bank of Saudi Arabia and are focusing on accepting point-of-sale and online installment loans as a payment method, which increases growth opportunities. The major players in the market include Spotti, Tabby, Tamara, Telr, and Postpay.

Saudi Arabia Buy Now Pay Later Services Market Leaders

  1. Spotti

  2. Tabby

  3. Tamara

  4. Telr

  5. Postpay

*Disclaimer: Major Players sorted in no particular order

Saudi Arabia Buy Now Pay Later Services Market Concentration
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Saudi Arabia Buy Now Pay Later Services Market News

  • January 2023: ToYou, a delivery app established in Saudi Arabia, and the shopping and payment app Tabby partnered to create a new BNPL service in the country.
  • June 2022: Postpay, a leading BNPL provider in the Middle East, partnered with Tap Payments to offer more innovative and popularly used payment methods to businesses.

Saudi Arabia Buy Now Pay Later Services Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET INSIGHTS AND DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Driver

      1. 4.2.1 Increasing Consumer Demand for Flexible Payment Options

      2. 4.2.2 Rise in E-commerce and Online Shopping

    3. 4.3 Market Restraints

      1. 4.3.1 High Interest Rates is Restraining the Market

      2. 4.3.2 Availability of Alternatives

    4. 4.4 Market Opportunities

      1. 4.4.1 Partnering with Retailers and E-commerce Platforms

    5. 4.5 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.5.1 Bargaining Power of Suppliers

      2. 4.5.2 Bargaining Power of Buyers/Consumers

      3. 4.5.3 Threat of New Entrants

      4. 4.5.4 Threat of Substitute Products

      5. 4.5.5 Intensity of Competitive Rivalry

    6. 4.6 Insight into Technologial Adoption in the Market

    7. 4.7 Insight into Various Government Regulations in the Market

    8. 4.8 Impact of COVID-19 on the Market

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Channel

      1. 5.1.1 Online

      2. 5.1.2 POS (Point of Sale)

    2. 5.2 By End User

      1. 5.2.1 Kitchen Appliances

      2. 5.2.2 Electronic Appliances

      3. 5.2.3 Fashion and Personal Care

      4. 5.2.4 Healthcare

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Market Concentration Overview

    2. 6.2 Company Profiles

      1. 6.2.1 Tamara

      2. 6.2.2 Tabby

      3. 6.2.3 Spotti

      4. 6.2.4 Postpay

      5. 6.2.5 Telr

      6. 6.2.6 Mastercard

      7. 6.2.7 Cashew Payments

      8. 6.2.8 VISA

      9. 6.2.9 Affirm Inc.

      10. 6.2.10 Zippay*

    3. *List Not Exhaustive
  7. 7. MARKET FUTURE TRENDS

  8. 8. DISCLAIMER AND ABOUT US

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Saudi Arabia Buy Now Pay Later Services Industry Segmentation

Buy now, pay later (BNPL) is a short-term financing that allows customers to make purchases and pay for them later, generally without incurring interest. BNPL arrangements, sometimes known as "point of sale installment loans," are becoming a more popular payment alternative, especially in online shopping.

The Saudi Arabian buy now, pay later services market is segmented into channel and end-user types. By channel, the market is segmented into online and POS (point of sale). The market is segmented by end-users into kitchen appliances, consumer electronics, fashion and personal care, and healthcare. The report offers market size and forecasts for the market in terms of revenue (USD) for all the above segments.

By Channel
Online
POS (Point of Sale)
By End User
Kitchen Appliances
Electronic Appliances
Fashion and Personal Care
Healthcare
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Saudi Arabia Buy Now Pay Later Services Market Research Faqs

The Saudi Arabia Buy Now Pay Later Services Market size is expected to reach USD 1.40 billion in 2024 and grow at a CAGR of greater than 10% to reach USD 2.80 billion by 2029.

In 2024, the Saudi Arabia Buy Now Pay Later Services Market size is expected to reach USD 1.40 billion.

Spotti, Tabby, Tamara, Telr and Postpay are the major companies operating in the Saudi Arabia Buy Now Pay Later Services Market.

In 2023, the Saudi Arabia Buy Now Pay Later Services Market size was estimated at USD 1.26 billion. The report covers the Saudi Arabia Buy Now Pay Later Services Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Saudi Arabia Buy Now Pay Later Services Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Saudi Arabia Buy Now Pay Later Services Industry Report

Statistics for the 2024 Buy Now Pay Later Services KSA market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Buy Now Pay Later Services KSA analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Buy Now Pay Later Services KSA Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)