DUBLIN--(BUSINESS WIRE)--The "Australia Buy Now Pay Later Business and Investment Opportunities - 75+ KPIs on Buy Now Pay Later Trends by End-Use Sectors, Operational KPIs, Market Share, Retail Product Dynamics, and Consumer Demographics - Q3 2022 Update" report has been added to ResearchAndMarkets.com's offering.

According to this report BNPL payments in Australia are expected to grow by 57.0% on an annual basis to reach US$22,062.3 million in 2022.

Medium to long term growth story of BNPL industry in Australia remains strong. BNPL payment adoption is expected to grow steadily over the forecast period, recording a CAGR of 32.5% during 2022-2028. The BNPL Gross Merchandise Value in the country will increase from US$14,056.7 million in 2021 to reach US$119,277.8 million by 2028.

Australian consumers have been one of the early adopters of the buy now pay later (BNPL) payment method globally. The explosion in the popularity of the BNPL payment method during the global pandemic outbreak has seen many traditional financial services firms, including banks, rapidly move into the BNPL space, either in collaboration with established BNPL providers or introducing their deferred payment service, despite initial hesitancy and skepticism about these payment arrangements.

The medium to the long-term growth outlook for the BNPL sector remains strong in Australia, as payment adoption is expected to grow steadily among consumers across different age groups. Recent moves by BNPL providers, such as Afterpay, also indicate where the next growth phase of the BNPL industry may come from. The Australia-based firm, which Square has acquired, is making inroads in the physical retail segment by integrating the BNPL payment method with in-store point of sale solutions offered by Square.

Over the next three to four years, the publisher expects in-store growth to overtake the online BNPL segment in Australia. With the enormous market reach offered by mobile payments, integration of BNPL services with digital wallets like Apple and Google Pay presents enormous new addressable markets.

Banking institutions continue to enter the deferred payment segment with BNPL product launches in Australia

With Australian consumers increasing their BNPL spending aggressively, the once hesitant traditional banking institutions continue to enter into the deferred payment segment by launching their BNPL services. Introducing these new BNPL services in the Australian market is expected to further pressure existing operators.

BNPL providers are expanding their services into new product categories to drive growth amid rising competition

Amid the growing competition in the Australian BNPL industry, firms are expanding their services into new product categories to gain more traction among consumers and drive growth.

Mergers and acquisitions deals are expected to increase as players consolidate to survive the increased competition and rising interest rates

In 2022, the BNPL sector in Australia is likely to see more mergers and acquisition deals as firms consolidate to survive the increased competition and rising interest rates. Notably, Australia is expected to start hiking interest rates from a record low during the pandemic later this year. With firms facing higher costs in borrowing funds, the margins derived from providing interest-free installment loans for shoppers at the point of sale will get reduced.

Scope

This report provides in-depth, data-centric analysis of Buy Now Pay Later industry in Australia . Below is a summary of key market segments:

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 Operational KPIs

• Buy Now Pay Later Revenues, 2019 - 2028
• Buy Now Pay Later Share by Revenue Segments
• Buy Now Pay Later Merchant Commission, 2019 - 2028
• Buy Now Pay Later Missed Payment Fee Revenue, 2019 - 2028
• Buy Now Pay Later Pay Now & Other Income, 2019 - 2028
• Buy Now Pay Later Accounts, 2019 - 2028
• Buy Now Pay Later Bad Debt, 2019 - 2028

Australia Buy Now Pay Later Market Share Analysis by Key Players

• (Afterpay, Zippay, Humm, OpenPay, Payright)

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 Other: 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/fl8ax6

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