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Australia Buy Now Pay Later Market Report 2021: BNPL Payment Adoption to Grow by 24% to 2028

·4-min read

Dublin, Sept. 23, 2021 (GLOBE NEWSWIRE) -- The "Australia Buy Now Pay Later Business and Investment Opportunities (2019-2028) - 75+ KPIs on Buy Now Pay Later Trends by End-Use Sectors, Operational KPIs, Market Share, Retail Product Dynamics, and Consumer Demographics" report has been added to ResearchAndMarkets.com's offering.

Medium to long term growth story of BNPL industry in Australia remains strong. The BNPL payment adoption is expected to grow steadily over the forecast period, recording a CAGR of 24.0% during 2021-2028. The BNPL Gross Merchandise Value in the country will increase from US$ 7354.4 million in 2020 to reach US$ 52456.2 million by 2028.

The BNPL market has been one of the fastest-growing markets in Australia. As more and more consumers are inclining towards BNPL services primarily due to interest-free deferred payment solutions, the market recorded significant growth in recent years. With a favorable regulatory framework and the presence of the world's leading BNPL companies, the sector is expected to attract more investment opportunities in the short to medium term.

The publisher also expects the growth in the Australian e-commerce industry is to continue in the next couple of years. Consequently, the share of consumers in Australia using the BNPL option at online and offline checkouts is projected to increase subsequently.

The growing BNPL industry is having a direct impact on the banking system. In Australia, banks are experiencing a decline in credit card businesses. Moreover, interest margins and non-interest income are also getting affected due to the wide adoption of BNPL services. These growing concerns among the banking players have resulted in them responding by removing the fees on low-balance cards entirely. Moreover, some of the banks in the country have also launched their own interest-free card and moving towards BNPL payment options.

With the BNPL industry getting saturated with the entry of major banks and payment giants, market leaders such as Afterpay and Zip are expanding to stay ahead and gain more market share. Moreover, Australia-based BNPL players are making a big push overseas to secure a significant foothold in the global BNPL market.

Scope

Australia BNPL Market Size and Spending Pattern

  • Gross Merchandise Value Trend Analysis

  • Average Value Per Transaction Trend Analysis

  • Transaction Volume Trend Analysis

Australia Buy Now Pay Later Market Share Analysis by Key Players

  • Afterpay

  • Zippay

  • OpenPay

  • Payright

  • humm

  • Laybuy

  • Splitit

  • Sezzle

  • Klarna

  • Paypal

  • LimePay

  • Brighte

  • Art Money

Australia Buy Now Pay Later Spend Analysis by Channel: Market Size and Forecast

  • Online Channel

  • POS Channel

Australia Buy Now Pay Later in Retail Shopping: Market Size and Forecast

  • Gross Merchandise Value Trend Analysis

  • Average Value Per Transaction Trend Analysis

  • Transaction Volume Trend Analysis

Australia Buy Now Pay Later in Home Improvement: Market Size and Forecast

  • Gross Merchandise Value Trend Analysis

  • Average Value Per Transaction Trend Analysis

  • Transaction Volume Trend Analysis

Australia Buy Now Pay Later in Leisure & Entertainment: Market Size and Forecast

  • Gross Merchandise Value Trend Analysis

  • Average Value Per Transaction Trend Analysis

  • Transaction Volume Trend Analysis

Australia Buy Now Pay Later in Healthcare and Wellness: Market Size and Forecast

  • Gross Merchandise Value Trend Analysis

  • Average Value Per Transaction Trend Analysis

  • Transaction Volume Trend Analysis

Australia Buy Now Pay Later in Education: Market Size and Forecast

  • Gross Merchandise Value Trend Analysis

  • Average Value Per Transaction Trend Analysis

  • Transaction Volume Trend Analysis

Australia Buy Now Pay Later in Automotive: Market Size and Forecast

  • Gross Merchandise Value Trend Analysis

  • Average Value Per Transaction Trend Analysis

  • Transaction Volume Trend Analysis

Australia Buy Now Pay Later Analysis by Consumer Attitude and Behaviour

  • Buy Now Pay Later Sales Uplift by Product Category

  • Buy Now Pay Later Spend Share by Age Group

  • Buy Now Pay Later Gross Merchandise Share by Income

  • Buy Now Pay Later Gross Merchandise Value Share by Gender

  • Buy Now Pay Later Adoption Rationale Gross Merchandise Value Analysis

For more information about this report visit https://www.researchandmarkets.com/r/ohbx1s

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