Fintech PR
South Africa Buy Now, Pay Later Boom: $5.7 Billion Growth by 2027 Fueled by Credit Access & E-commerce Surge: Ken Research
GURUGRAM, India, Feb. 19, 2024 /PRNewswire/ — South Africa’s Buy Now, Pay Later (BNPL) market is experiencing rapid growth, fueled by the increasing demand for flexible credit options and the booming e-commerce sector. Ken Research’s “South Africa Buy Now, Pay Later Market” report predicts a remarkable 14.8% CAGR, translating to a substantial $5.7 billion market size by 2027. This press release unpacks the key drivers, challenges, and exciting prospects shaping this dynamic landscape.
Market Overview: Empowering Consumers, Boosting Retail
Beyond simply offering delayed payments, BNPL services play a crucial role in expanding financial inclusion, making online shopping more accessible, and stimulating economic growth. In 2022, the market reached a size of $1.7 billion, and it’s on track for significant expansion, driven by:
- Limited Access to Traditional Credit: Restrictive access to credit cards and high interest rates make BNPL a viable alternative for many consumers.
- E-commerce Explosion: Rising internet penetration and mobile adoption fuel online shopping, creating a strong demand for BNPL solutions.
- Convenience & Affordability: Easy online application processes and manageable payment installments enhance consumer appeal.
- Merchant Benefits: Increased sales volumes and reduced cart abandonment rates benefit retailers adopting BNPL options.
Interested to Know More about this Report, Request a Free Sample Report
Market Segmentation: Diverse Solutions, Tailored Needs
The report delves into various segments of the South African BNPL market, offering a comprehensive view:
- Payment Cycle: Interest-free options within 3-6 months dominate (70%), followed by longer installment plans with interest (20%) and point-of-sale financing (10%).
- Industry: Retail & e-commerce leads the demand (60%), followed by travel & tourism (20%) and education (10%). BNPL caters to diverse purchase needs.
- Player Type: Established financial institutions hold the largest share (50%), followed by fintech startups (40%) and mobile network operators (10%). Players offer varying value propositions.
Competitive Landscape: Local & Global Players Collaborate
The market features a blend of established local players, global giants, and innovative startups:
- Local Champions: PayJustNow, Payflexi, and Mobi Credit cater to the local market with flexible solutions and partnerships with retailers.
- Global Titans: Klarna, Afterpay, and PayPal offer international expertise and diverse product offerings.
- Emerging Challengers: Fintech startups like Lamna and Easy Equities disrupt the market with innovative technologies and niche offerings.
Challenges: Navigating the Road to Responsible Growth
Despite the promising outlook, some challenges need to be addressed:
- Regulatory Framework: Lack of specific regulations for BNPL services can raise concerns about over-indebtedness and consumer protection.
- Data Security & Privacy: Protecting sensitive consumer data and ensuring responsible data practices are crucial for long-term trust.
- Financial Literacy: Educating consumers about responsible BNPL usage and potential risks is essential to avoid financial distress.
- Competition & Sustainability: Intense competition can lead to aggressive marketing practices and unsustainable business models.
Visit this Link :- Request for custom report
Future Outlook: A Secure, Responsible, and Inclusive BNPL Ecosystem
The South African BNPL market is poised for continued growth, driven by several exciting factors:
- Focus on Financial Inclusion: Partnerships with microfinance institutions and targeted offerings can expand access to BNPL for underserved communities.
- Technological Advancements: Integration with artificial intelligence and data analytics will enhance risk assessment and personalize consumer experiences.
- Regulatory Clarity: Establishment of clear regulations will promote responsible lending practices and build consumer confidence.
- Collaboration & Innovation: Partnerships between stakeholders will foster responsible growth, address challenges, and drive innovation.
Key Takeaways for Stakeholders:
This report offers valuable insights for various stakeholders in the South African BNPL market, including:
- BNPL Providers: Focusing on responsible lending practices, data security, and financial literacy initiatives.
- Investors: Identifying high-growth opportunities in segments like BNPL for underserved communities and innovative technologies.
- Retailers: Partnering with reliable BNPL providers, integrating seamless BNPL options, and ensuring transparency.
- Regulators: Developing clear and balanced regulations that protect consumers and promote responsible market growth.
- Consumers: Understanding the terms and conditions of BNPL options, using them responsibly, and seeking financial advice if needed.
Request free 30 minutes analyst call
Conclusion:
South Africa’s BNPL market stands on the cusp of a transformative journey, offering immense potential for financial inclusion, e-commerce growth, and economic development.
For More Insights On Market Intelligence, Refer To The Link Below: –
South Africa Buy Now Pay Later Market
Related Reports by Ken Research: –
According to Ken Research estimates, the Malaysia BNPL Market – which grew from approximately USD ~140 Mn in 2019 to approximately USD ~560 Mn in 2022 – is forecasted to grow further into USD ~2700 Mn opportunity by 2027F, owing to the New Government Policies, New Players in the Market and Partnership with Companies.
The KSA BNPL marketis estimated to expand at a CAGR of ~xx% in between 2022P and 2027E on the basis of number of transactions done. Increasing adoption of cashless society with emergence of digital payments fueled by surging working age class will derive the traction of BNPL industry among the users in KSA Increasing demand for extra credit line with less stringent KYC procedures without relying on CIBIL scores will be traction for consumers for utilization of BNPL services.
UAE BNPL market is expected to expand with a single digit CAGR in between 2022 and 2027 on the basis of revenue generated. It is anticipated that BNPL industry will grow at a substantial rate owing to factors such as due to wider acceptability at shops and better product offerings in a competitive landscape in the coming years. UAE has been culturally conservative towards BNPL and it is always seen as a debt trap instrument.
The US Micro Lending market is expected to grow at a CAGR of 12 % from 2022 to 2028 with low-interest Rates, Ease of Access, Technological Advancements, flexible repayment schedules, and Alternative credit score models. As the market is anticipated to grow remarkably in the forecasted period thus the demand for microloans will also increase significantly.
Follow Us – LinkedIn | Instagram | Facebook | Twitter | YouTube
Contact Us:-
Ken Research Private Limited
Ankur Gupta, Director Strategy and Growth
[email protected]
+91-9015378249
Logo: https://mma.prnewswire.com/media/1954972/3782349/Ken_Research_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/south-africa-buy-now-pay-later-boom-5-7-billion-growth-by-2027-fueled-by-credit-access–e-commerce-surge-ken-research-302064925.html
DUBAI, UAE, Sept. 6, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, set out to make the community’s TOKEN2049 journey more rewarding. Gearing up for the most anticipated blockchain and Web3 event in the region, Bybit is thrilled to announce three bonus events to enable both attendees and remote fans to both be part of the experience.
The winning opportunities are open to both attendees of TOKEN2049 and followers from afar. Through trading and offline events, participants stand to get free tickets, a share of the $80,000 prize pool in airdrops and coupons, and Bybit merchandise.
Event 1: TOKEN2049 Treasure Express
From now to Sep. 26, 2024, Bybit users may register for the event and complete tasks by depositing and trading assets to earn lucky draw tickets. The wheel of fortune will turn to one of the three prizes:
1. A pair of tickets to TOKEN2049;
2. A share of the airdrop prize pool valued at $50,000 featuring the hottest tokens, including DOGS, PEPE, SOL, XRP, TON and USDT; or
3. Up to 50 USDT in spot coupons.
Even more rewards await in referrals and social media giveaways. For details, visit: TOKEN2049 Treasure Express
Event 2: Share and Unlock
From now to Sep. 30, 2024, unleash your social media magic for a chance to win a 10 USDT spot trading coupon. Share a Bybit blog link and your thoughts on Bybit and Web3. Remember to tag @Bybit_Official and use the hashtag #UnlockWeb3Future and submit the form with us here: #UnlockWeb3Future at TOKEN2049 with Bybit
Event 3: Meet us offline at TOKEN2049
Spot our logo at TOKEN2049 and capture a photo at the Bybit booth (M50) to win Bybit merchandise. Remember to share to your social media channels and use the right hashtag. For details, visit: #UnlockWeb3Future at TOKEN2049 with Bybit
An advocate for a sustainable Web3 ecosystem, Bybit will be featured prominently at TOKEN2049 on a series of keynote panels, thought leadership and community events, and booth M50.
#Bybit / #TheCryptoArk
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 40 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.
For more details about Bybit, please visit Bybit Press.
For media inquiries, please contact: [email protected]
For more information, please visit: https://www.bybit.com
For updates, please follow: Bybit’s Communities and Social Media
Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube
Logo – https://mma.prnewswire.com/media/2267288/Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/board-the-token2049-treasure-express-with-bybit-and-dive-into-an-80-000-prize-pool-302240594.html
DUBAI, UAE, Sept. 6, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, is excited to announce it’s among the first to be granted consent to a full authorization by the Astana Financial Service Authority (AFSA). This milestone brings Bybit closer to becoming a fully regulated Digital Asset Trading Facility (DATF).
As part of a rigorous process, Bybit Kazakhstan has passed a full AML check, business conduct audit, and detailed compliance inspections. This is part of Bybit’s focus on securing new user opportunities in Kazakhstan and the broader Commonwealth of Independent States (CIS) region.
“Kazakhstan has become a key player in the global crypto ecosystem, and we are thrilled to be expanding our services in such a dynamic market,” said Ben Zhou, co-founder and CEO of Bybit. “We are committed to bringing our cutting-edge technology, security, and transparency to crypto traders in Kazakhstan, ensuring they can access the best possible tools and services to thrive in this fast-growing industry.”
Once the full license is in place, Bybit Kazakhstan will offer various digital assets related products and services. The expansion into Kazakhstan aligns with Bybit’s mission to provide reliable and transparent services, catering to the unique needs of crypto traders and investors in the region.
This development follows Bybit’s receipt of its initial operating and custody licenses from AFSA in June 2023, reinforcing its commitment to local regulatory requirements. Bybit’s ongoing efforts to strengthen its presence in Kazakhstan underscore its belief in responsible growth and ensuring a compliant and secure trading environment.
Kazakhstan has quickly emerged as a hub for crypto innovation, and Bybit is proud to play a leading role in fostering this development. For example, Bybit hosted a “Foundations of Blockchain, Web3 and Crypto Exchange Activities” course for Banks of Kazakhstan in 2024. This event was part of Bybit’s drive to make blockchain education more accessible in the CIS region.
By securing this full authorization, Bybit is poised to enhance crypto adoption, provide institutional-grade security, and offer advanced trading features to its growing regional user base.
#Bybit / #TheCryptoArk
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 40 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.
For more details about Bybit, please visit Bybit Press.
For media inquiries, please contact: [email protected]
For more information, please visit: https://www.bybit.com
For updates, please follow: Bybit’s Communities and Social Media
Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube
Logo – https://mma.prnewswire.com/media/2267288/Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/bybit-expands-global-reach-receives-formal-consent-for-full-authorization-in-kazakhstan-302240634.html
Fintech PR
Integrum ESG and CSRHub enable fund managers to monitor both long-term trends and short-term movements in ESG ratings for companies, across a 10-year time series
LONDON, Sept. 6, 2024 /PRNewswire/ — Integrum ESG, the leading alternative ESG data provider, has today announced the launch of their Consensus ESG Ratings module.
Just as investors monitor movements in consensus earnings estimates or credit ratings, investors now are aware of the demand for the ability to monitor long-term trends and short-term movements in consensus ESG ratings.
This new feature enables Integrum ESG’s asset manager clients to now see the consensus ESG score for any company, either as an absolute rating or a relative percentile ranking, across a 10-year time series.
These scores will indicate to any investor what the capital markets have ‘priced in’ for a company’s ESG performance, allowing users to quickly understand the market’s view on a company and easily conduct relative ESG analysis on the positions they hold within their Portfolio.
This regularly updated data is provided by CSRHub, the world’s leading provider of consensus ESG ratings. CSRHub has spent years aggregating and normalising a vast range of licensed sources – from large ESG ratings firms such as MSCI, ISS, S&P Global, and Sustainalytics to specialists such as CDP and Better World Companies.
Shai Hill, Founder and CEO of Integrum ESG, commented: “Many investors have told us they want a sense of ‘what is priced in’ in terms of a company’s ESG performance, so they can compare this to what anyone ESG ratings firm is saying. CSRHub is the only firm to have credibly achieved this, thanks to a model refined over years and a vast data lake – so we are delighted to be partnering with them.”
Bahar Gidwani, Co-Founder of CSRHub, added: “Investors need to fine tune their ESG-related investment strategies to improve their returns and better match the preferences of their clients. Combining CSRHub’s expert outside-in, consensus view of ESG with Integrum ESG’s detailed real-time data stream provides a strong solution for these needs.”
About Integrum ESG
Integrum ESG is the leading alternative ESG data and ratings platform for investors, blending human analysis and award-winning artificial intelligence models to capture, verify and display granular and relevant ESG data for analysis and assessment. Their Platform allows clients to dissect ESG scores, real-time sentiment, and more with a variety of unique-to-market features, empowering industry professionals and investors and giving them complete oversight of ESG risk across their portfolio.
For more information, visit www.integrumesg.com
About CSRHub
CSRHub offers the most comprehensive global set of Consensus ESG (Environmental, Social, and Governance) ratings, information, and tools. CSRHub’s business intelligence system measures the ESG business impact that drives corporate and investor sustainability decisions. Founded in 2007, CSRHub covers 56,545 public and private companies, and provides ESG performance scores on over 37,899 companies from 135 industries in 210 countries. Our Big Data platform uses algorithms to aggregate, normalize and weight ESG metrics from 957 sources to produce a strong consensus signal on corporate sustainability performance.
For more information, visit www.csrhub.com
Media Contact
Harish Karunalingam
Integrum ESG
[email protected]
-
Fintech PR4 days agoBasware Officially Registered as PDP Service Provider as French Businesses Prepare for Mandatory E-Invoicing
-
Fintech5 days agoBanking in the United Arab Emirates stands at an inflection point between the traditional branch-based model and a digital AI-enabled future – new Capco survey
-
Fintech PR3 days agoIMF: Financial and Regulatory Reform Agenda Contributed to Accelerating Saudi Economy’s Growth
-
Fintech PR3 days agoBybit Web3 Kicks off Babylon Season With Unprecedented Access and Rewards, Uplifting Liquidity in BTC Ecosystem
-
Fintech PR3 days agoICEYE and Aon expand collaboration with flood and wildfire data agreement to enhance event response
-
Fintech PR3 days agoPurchase Order Financing Market to Reach $12.9 Billion, Globally, by 2033 at 8.7% CAGR: Allied Market Research
-
Fintech PR3 days agoJamie Mullarkey named Markel’s Global Executive Underwriting Officer for Property and First Party Lines
-
Fintech PR4 days agoQuadrature Climate Foundation surpasses US$1 billion in philanthropic commitments, emphasising strategic, science-led climate action