, APAC

BNPL credit products value to rise to $576b by 2026: report

For every $100 spent, $2 goes to BNPL transactions in 2021.

More consumers are expected to rely more on buy now, pay later (BNPL) credit products as its global transaction value is projected to reach $576b by 2026, GlobalData reported.

In 2021, the payment service accounted for 2.3% of the global e-commerce market with transaction value reaching $120b. GlobalData noted that during the same period, $2 went to BNPL transactions for every $100 spent. 

“The BNPL market will still enjoy high demand and is projected to continue its strong growth,” Arnie Cho, Senior Analyst at GlobalData, said. 

“However, smaller BNPL providers may not be able to survive the competition and could end up being acquired by bigger payment providers or banks. Just like the mobile wallet territorial fight, tech companies may well end up dominating the segment in the years to come.”

For instance, in Australia, major banks, such as CBA, WestPay, and ANZ have rolled out BNPL services as early as 2021, whilst the NAB launched theirs in May 2022. 

Cho noted the industry will have to brace for headwinds as BNPL providers’ revenue depend on merchant fees, penalties for late payment, and “extremely” low-interest rates on short-term debts.

“With interest rates rising to control inflation and ease the cost-of-living crisis, BNPL providers' costs will increase, putting pressure on already very thin margins from fees and penalties,” Cho said. 

Read more: ‘Buy Now, Pay Later’ paves the way for SEA’s big spenders

Follow the link for more news on

Swarovski menguasai TikTok untuk perluas skala luxury di kalangan Gen Z

Produsen Kristal asal Austria ini bekerja sama dengan influencer untuk menjangkau pasar Singapura.

Foodpanda mengotomatisasi ‘dark stores’ di Singapura untuk mempercepat pengiriman

Gudang 24/7-nya memastikan pemenuhan pesanan sepanjang waktu.

Peritel Singapura masuk pasar Thailand dan Malaysia melalui Shopee dan Lazada

Menjual di platform-platform ini jauh lebih murah dibandingkan membuka toko fisik.

Dear Me Beauty berencana membuka flagship store

Store ini dapat menjadi fondasi bagi pertumbuhan pasar yang lebih luas.

Rakuten menggunakan robot otonom untuk meningkatkan pengiriman tahap akhir

Mereka dapat melakukan pengiriman pada malam hari dan saat cuaca buruk berkat sensor LiDAR.

Erajaya Digital membuka toko elektronik terbesarnya

Cabang ini merupakan toko konsep ke-80 dari sekitar seribu cabang yang tersebar di seluruh Indonesia.

Pasar perawatan hewan peliharaan melejit di Singapura

Mereka menghabiskan uang untuk pelajaran renang, yoga hewan, pilates, dan lainnya.

Jaringan makanan cepat saji asal Cina membidik listing di Hong Kong

Mereka menggunakan kota ini sebagai tempat uji coba untuk ekspansi lebih lanjut ke luar negeri.