PUBLISHER: Blueweave Consulting | PRODUCT CODE: 1351283
PUBLISHER: Blueweave Consulting | PRODUCT CODE: 1351283
India Buy Now Pay Later Services Market, By Channel (Online, Point of Sale ); By Enterprise Type (Large Enterprises, Small & Medium-sized Enterprises ); By End User ; By Region, Trend Analysis, Competitive Landscape & Forecast, 2019-2029
India Buy Now Pay Later (BNPL) Services Market Size Zooming More Than 4X to Touch USD 4.6 Billion by 2029.
India Buy Now Pay Later (BNPL) services market is flourishing because of the growing millennials and gen Z people and thriving e-commerce sector across the country.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the India Buy Now Pay Later (BNPL) services market size at USD 1.1 billion in 2022. During the forecast period between 2023 and 2029, BlueWeave expects India Buy Now Pay Later (BNPL) services market size to grow at a robust CAGR of 23.1% reaching a value of USD 4.6 billion by 2029. Major growth drivers for the India Buy Now Pay Later (BNPL) services market include an increasing e-commerce momentum, growing trend of digital payments, and the rising influence of millennials and Gen Z. The flourishing Buy Now Pay Later (BNPL) market in India stands as an international benchmark for rapid expansion. With the shift towards online payment methods gaining traction among consumers, adopting BNPL as a preferred payment option has observed remarkable growth within the country over the past two years. A notable Experian report reveals that BNPL transactions in India surged by 21% during H1 2022, surpassing global growth by 3%. While this deferred payment model may be overshadowed by mobile wallets and credit cards, the growing awareness and heightened usage, especially within higher-income households, signal the imminent mainstream integration of this payment approach. As India's journey towards a resilient digital ecosystem continues, the outlook for the BNPL market appears highly promising in the medium to long-term perspective. However, regulatory concerns around BNPL services and economic instability or recessions are anticipated to restrain the overall market growth during the period in analysis.
India Buy Now Pay Later (BNPL) Services Market - Overview:
India Buy Now Pay Later (BNPL) system is a payment mechanism enabling customers to make purchases, whether online or in physical stores, without the immediate requirement of paying the full upfront sum. The growth of this market is propelled by factors such as the ongoing digitization, wider merchant acceptance, escalating patronage among the younger demographic, and the emergence of fresh enterprises providing financing via BNPL services. Particularly appealing to younger consumers, BNPL services offer a range of benefits, encompassing the ability to acquire high-value items like laptops and smartphones, as well as facilitating payments for everyday essentials such as stationery products.
Impact of COVID-19 on India Buy Now Pay Later (BNPL) Services Market
COVID-19 pandemic had a positive impact on the India Buy Now Pay Later (BNPL) services market. Initial disruptions were followed by a rapid acceleration in digital adoption, including the utilization of BNPL services. Online shopping surged as consumers sought convenient solutions, boosting the prominence of BNPL as a payment option. Economic uncertainties during the pandemic heightened the attractiveness of deferred payments. Market participants swiftly adjusted, extending BNPL services to brick-and-mortar stores. This adaptability underscored the market's resilience. The pandemic's influence underscored the importance of flexible payment methods, positioning the India BNPL market for ongoing expansion as consumer behaviors evolved in the post-pandemic context.
India Buy Now Pay Later (BNPL) Services Market - By Channel:
By channel, the India Buy Now Pay Later (BNPL) services market is bifurcated into Online and Point of Sale (POS) segments. The online channel segment holds a higher share in the India Buy Now Pay Later (BNPL) services market during the forecast period by channel. In aiding the expansion endeavors of small and medium-sized enterprises in India, multiple entities, including B2B e-commerce establishments, have ventured into the Buy Now Pay Later (BNPL) domain, a segment that has garnered increasing favor among both consumer and business circles. Consequently, these entities are actively securing funding rounds to extend their B2B BNPL services across a broader spectrum of enterprises in India. As India's e-commerce sector surges towards a USD 100-billion milestone, attributed to digitalization and accessible internet, the digital sales landscape has flourished. Buy Now Pay Later (BNPL) has emerged as a preferred transaction mode, poised to encompass 14% of e-commerce transaction values in the coming years. The diverse e-commerce platform encompasses groceries, electronics, FMCG, home furnishing, and more. During H1 2022, the platform achieved a robust gross merchandise value (GMV) of over US$260 billion, bolstered by a remarkable 60% average repeat purchase rate.
Competitive Landscape:
Major players operating in the India Buy Now Pay Later (BNPL) services market include: Sezzle, ZestMoney, LazyPay, Paytm Postpaid, SlicePay, Capital Float, EarlySalary, Amazon Pay Later, Razorpay, and Simpl. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of India Buy Now Pay Later (BNPL) Services Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in India Buy Now Pay Later (BNPL) Services Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
Table of Contents
1. Research Framework
- 1.1. Research Objective
- 1.2. Product Overview
- 1.3. Market Segmentation
2. Executive Summary
3. India Buy Now Pay Later (BNPL) Services Market Insights
- 3.1. Industry Value Chain Analysis
- 3.2. DROC Analysis
- 3.2.1. Growth Drivers
- 3.2.1.1. Booming E-commerce sector in India
- 3.2.1.2. Millennial and Gen Z Demographics
- 3.2.2. Restraints
- 3.2.2.1. Regulatory concerns around BNPL services
- 3.2.2.2. Economic instability or recessions
- 3.2.3. Opportunities
- 3.2.3.1. Growing collaborations between BNPL providers and e-commerce platforms
- 3.2.3.2. Untapped market
- 3.2.4. Challenges
- 3.2.4.1. Expensive integration of BPNL services
- 3.2.1. Growth Drivers
- 3.3. Technological Advancements/Recent Developments
- 3.4. Regulatory Framework
- 3.5. Porter's Five Forces Analysis
- 3.5.1. Bargaining Power of Suppliers
- 3.5.2. Bargaining Power of Buyers
- 3.5.3. Threat of New Entrants
- 3.5.4. Threat of Substitutes
- 3.5.5. Intensity of Rivalry
4. India Buy Now Pay Later (BNPL) Services Market Overview
- 4.1. Market Size & Forecast, 2019-2029
- 4.1.1. By Value (USD Million)
- 4.2. Market Share & Forecast
- 4.2.1. By Channel
- 4.2.1.1. Online
- 4.2.1.2. Point of Sale (PoS)
- 4.2.2. By Enterprise Type
- 4.2.2.1. Large Enterprises
- 4.2.2.2. Small & Medium Enterprises
- 4.2.3. By End User
- 4.2.3.1. Consumer Electronics
- 4.2.3.2. Fashion & Garment
- 4.2.3.3. Healthcare
- 4.2.3.4. Retail
- 4.2.3.5. Media & Entertainment
- 4.2.3.6. Others
- 4.2.4. By Region
- 4.2.4.1. North India
- 4.2.4.2. South India
- 4.2.4.3. East India
- 4.2.4.4. West India
- 4.2.1. By Channel
5. North India Buy Now Pay Later (BNPL) Services Market
- 5.1. Market Size & Forecast, 2019-2029
- 5.1.1. By Value (USD Million)
- 5.2. Market Share & Forecast
- 5.2.1. By Channel
- 5.2.2. By Enterprise Type
- 5.2.3. By End User
6. South India Buy Now Pay Later (BNPL) Services Market
- 6.1. Market Size & Forecast, 2019-2029
- 6.1.1. By Value (USD Million)
- 6.2. Market Share & Forecast
- 6.2.1. By Channel
- 6.2.2. By Enterprise Type
- 6.2.3. By End User
7. East India Buy Now Pay Later (BNPL) Services Market
- 7.1. Market Size & Forecast, 2019-2029
- 7.1.1. By Value (USD Million)
- 7.2. Market Share & Forecast
- 7.2.1. By Channel
- 7.2.2. By Enterprise Type
- 7.2.3. By End User
8. West India Buy Now Pay Later (BNPL) Services Market
- 8.1. Market Size & Forecast, 2019-2029
- 8.1.1. By Value (USD Million)
- 8.2. Market Share & Forecast
- 8.2.1. By Channel
- 8.2.2. By Enterprise Type
- 8.2.3. By End User
9. Competitive Landscape
- 9.1. List of Key Players and Their Offerings
- 9.2. India Buy Now Pay Later (BNPL) Services Company Market Share Analysis, 2022
- 9.3. Competitive Benchmarking, By Operating Parameters
- 9.4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
10. Impact of Covid-19 on India Buy Now Pay Later (BNPL) Services Market
11. Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, SWOT Analysis)
- 11.1. Sezzle
- 11.2. ZestMoney
- 11.3. LazyPay
- 11.4. Paytm Postpaid
- 11.5. SlicePay
- 11.6. Capital Float
- 11.7. EarlySalary
- 11.8. Amazon Pay Later
- 11.9. Razorpay
- 11.10. Simpl
- 11.11. Other Prominent Players
12. Key Strategic Recommendations
13. Research Methodology
- 9.1. Qualitative Research
- 9.1.1. Primary & Secondary Research
- 9.2. Quantitative Research
- 9.3. Market Breakdown & Data Triangulation
- 9.3.1. Secondary Research
- 9.3.2. Primary Research
- 9.4. Breakdown of Primary Research Respondents, By Region
- 9.5. Assumptions & Limitations
*Financial information of non-listed companies can be provided as per availability.
**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable.
List of Figures
- Figure 1: India Buy Now Pay Later (BNPL) Services Segmentation
- Figure 2: India Buy Now Pay Later (BNPL) Services Market Value Chain Analysis
- Figure 3: Company Market Share Analysis, 2022
- Figure 4: India Buy Now Pay Later (BNPL) Services Market Size, By Value (USD Million), 2019-2029
- Figure 5: India Buy Now Pay Later (BNPL) Services Market Share, By Channel, By Value, 2019-2029
- Figure 6: India Buy Now Pay Later (BNPL) Services Market Share, By Enterprise Type, By Value, 2019-2029
- Figure 7: India Buy Now Pay Later (BNPL) Services Market Share, By End User, By Value, 2019-2029
- Figure 8: North India Buy Now Pay Later (BNPL) Services Market Size, By Value (USD Million), 2019-2029
- Figure 9: North India Buy Now Pay Later (BNPL) Services Market Share, By Channel, By Value, 2019-2029
- Figure 10: North India Buy Now Pay Later (BNPL) Services Market Share, By Enterprise Type, By Value, 2019-2029
- Figure 11: North India Buy Now Pay Later (BNPL) Services Market Share, By End User, By Value, 2019-2029
- Figure 12: South India Buy Now Pay Later (BNPL) Services Market Size, By Value (USD Million), 2019-2029
- Figure 13: South India Buy Now Pay Later (BNPL) Services Market Share, By Channel, By Value, 2019-2029
- Figure 14: South India Buy Now Pay Later (BNPL) Services Market Share, By Enterprise Type, By Value, 2019-2029
- Figure 15: South India Buy Now Pay Later (BNPL) Services Market Share, By End User, By Value, 2019-2029
- Figure 16: East India Buy Now Pay Later (BNPL) Services Market Size, By Value (USD Million), 2019-2029
- Figure 17: East India Buy Now Pay Later (BNPL) Services Market Share, By Channel, By Value, 2019-2029
- Figure 18: East India Buy Now Pay Later (BNPL) Services Market Share, By Enterprise Type, By Value, 2019-2029
- Figure 19: East India Buy Now Pay Later (BNPL) Services Market Share, By End User, By Value, 2019-2029
- Figure 20: West India Buy Now Pay Later (BNPL) Services Market Size, By Value (USD Million), 2019-2029
- Figure 21: West India Buy Now Pay Later (BNPL) Services Market Share, By Channel, By Value, 2019-2029
- Figure 22: West India Buy Now Pay Later (BNPL) Services Market Share, By Enterprise Type, By Value, 2019-2029
- Figure 23: West India Buy Now Pay Later (BNPL) Services Market Share, By End User, By Value, 2019-2029
List of Tables
- Table 1: India Buy Now Pay Later (BNPL) Services Market Size, By Value (USD Million), 2019-2029
- Table 2: India Buy Now Pay Later (BNPL) Services Market Size, By Channel, By Value, 2019-2029
- Table 3: India Buy Now Pay Later (BNPL) Services Market Size, By Enterprise Type, By Value, 2019-2029
- Table 4: India Buy Now Pay Later (BNPL) Services Market Size, By End User, By Value, 2019-2029
- Table 5: North India Buy Now Pay Later (BNPL) Services Market Size, By Value (USD Million), 2019-2029
- Table 6: North India Buy Now Pay Later (BNPL) Services Market Size, By Channel, By Value, 2019-2029
- Table 7: North India Buy Now Pay Later (BNPL) Services Market Size, By Enterprise Type, By Value, 2019-2029
- Table 8: North India Buy Now Pay Later (BNPL) Services Market Size, By End User, By Value, 2019-2029
- Table 9: South India Buy Now Pay Later (BNPL) Services Market Size, By Value (USD Million), 2019-2029
- Table 10: South India Buy Now Pay Later (BNPL) Services Market Size, By Channel, By Value, 2019-2029
- Table 11: South India Buy Now Pay Later (BNPL) Services Market Size, By Enterprise Type, By Value, 2019-2029
- Table 12: South India Buy Now Pay Later (BNPL) Services Market Size, By End User, By Value, 2019-2029
- Table 13: East India Buy Now Pay Later (BNPL) Services Market Size, By Value (USD Million), 2019-2029
- Table 14: East India Buy Now Pay Later (BNPL) Services Market Size, By Channel, By Value, 2019-2029
- Table 15: East India Buy Now Pay Later (BNPL) Services Market Size, By Enterprise Type, By Value, 2019-2029
- Table 16: East India Buy Now Pay Later (BNPL) Services Market Size, By End User, By Value, 2019-2029
- Table 17: West India Buy Now Pay Later (BNPL) Services Market Size, By Value (USD Million), 2019-2029
- Table 18: West India Buy Now Pay Later (BNPL) Services Market Size, By Channel, By Value, 2019-2029
- Table 19: West India Buy Now Pay Later (BNPL) Services Market Size, By Enterprise Type, By Value, 2019-2029
- Table 20: West India Buy Now Pay Later (BNPL) Services Market Size, By End User, By Value, 2019-2029
- Table 21: Sezzle Company Overview
- Table 22: Sezzle Financial Overview
- Table 23: ZestMoney Company Overview
- Table 24: ZestMoney Financial Overview
- Table 25: LazyPay Company Overview
- Table 26: LazyPay Financial Overview
- Table 27: Paytm Postpaid Company Overview
- Table 28: Paytm Postpaid Financial Overview
- Table 29: SlicePay Company Overview
- Table 30: SlicePay Financial Overview
- Table 31: Capital Float Company Overview
- Table 32: Capital Float Financial Overview
- Table 33: EarlySalary Company Overview
- Table 34: EarlySalary Financial Overview
- Table 35: Amazon Pay Later Company Overview
- Table 36: Amazon Pay Later Financial Overview
- Table 37: Razorpay Company Overview
- Table 38: Razorpay Financial Overview
- Table 39: Simpl Company Overview
- Table 40: Simpl Financial Overview
