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South Korea Buy Now Pay Later Business and Investment Opportunities Databook - 75+ KPIs on Buy Now Pay Later Trends by End-Use Sectors, Operational KPIs, Retail Product Dynamics, and Consumer Demographics - Q1 2022 Update

  • ID: 5304984
  • Report
  • January 2022
  • Region: South Korea
  • 50 Pages
  • PayNXT360

FEATURED COMPANIES

  • Kakao pay
  • Naver Pay
According to the Q4 2021 BNPL Survey, BNPL payment in South Korea is expected to grow by 76.0% on annual basis to reach US$ 5389.0 million in 2022.

Medium to long term growth story of BNPL industry in South Korea remains strong. The BNPL payment adoption is expected to grow steadily over the forecast period, recording a CAGR of 36.6% during 2022-2028. The BNPL Gross Merchandise Value in the country will increase from US$ 3062.4 million in 2021 to reach US$ 35074.6 million by 2028.

In South Korea, consumers are increasingly shifting towards the usage of digital payment methods such as e-wallet and buy now, pay later (BNPL) schemes. The growing adoption of digital payment services, including the split payment method, is similar to global trends. Moreover, the rising adoption of BNPL products among consumers in South Korea can be partly attributed to the growth in online shopping and partly to the high credit card penetration rate among consumers in the country.

South Korean BNPL firms are raising funds through IPOs for further expansion

In the midst of the growing demand for BNPL products by consumers in the country, BNPL firms are raising funds to further boost their growth in South Korea. Instead of raising funds from venture capital, South Korean firms are opting for the public issue to raise funds in the country. For instance,
  • Kakao Pay, the online payment service that offers consumers a split payment service, issued a public offering to raise a funding round in the country. The firm raised US$1.3 billion at a valuation of US$9.9 billion.
  • The firm marked its market debut with a surge of 114% on the KOSPI exchange. The firm is planning to use the IPO proceeds to speed up its global expansion plans, including its presence in Southeast Asia, China, and Europe.

The global expansion plans of the South Korean BNPL service come at the point when the global BNPL sector is expected to record robust growth over the next four to eight quarters. As the sector continues to grow in South Korea, the publisher expects more firms to raise funding rounds to boost their growth.

Global BNPL companies are expanding their reach in the growing South Korean market

As the medium to long-term growth story of the BNPL sector in the country remains strong, global BNPL firms are planning to expand their footprint in the growing South Korean market. For instance,
  • In November 2021, Singapore-based BNPL platform, Pace, announced that the firm is planning to expand its international presence by launching its deferred payment product for consumers in South Korea. The announcement from the firm came after it raised US$40 million in its Series A funding round from investors, including Japan’s Marubeni Ventures, South Korea’s Atinum Partners, Taiwan’s AppWorks, and Indonesia’s Alpha JWC, among others.
  • Apart from South Korea, the firm is also planning to expand its services in other emerging markets such as Japan and Taiwan. Moreover, the firm is also planning to use the newly infused capital to expand its technology and business development so as to boost its user base and total transaction value on the BNPL platform.

Domestic BNPL firms are entering into strategic partnerships with global commerce platforms

Cross-border commerce is gaining increasing traction globally, and South Korea is no different. As a result, BNPL platforms are entering into a strategic alliance with global commerce providers, allowing consumers to pay for their purchases using the split payment service. For instance,
  • In December 2021, domestic BNPL player Kakao Pay entered into a strategic partnership with Bango, the global platform for data-driven commerce. Under the collaboration, the merchant network of Bango will be able to reach tens of millions of users in South Korea to collect payments online.

The publisher expects more such strategic partnerships between BNPL platforms and global commerce providers in South Korea over the next four to eight quarters, which will subsequently assist the growth of the overall BNPL industry in the country from the short to medium-term perspective.

Scope


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

South Korea BNPL Market Size and Spending Pattern

  • Gross Merchandise Value Trend Analysis
  • Average Value Per Transaction Trend Analysis
  • Transaction Volume Trend Analysis

South Korea 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

South Korea Buy Now Pay Later Market Share Analysis by Key Players


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

  • Online Channel
  • POS Channel

South Korea 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

South Korea 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

South Korea 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

South Korea 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

South Korea 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

South Korea 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

Reasons to buy

  • In-depth Understanding of Buy Now Pay Later Market Dynamics: Understand market opportunities and key trends along with forecast (2019-2028). Understand market dynamics through essential KPIs such as Gross Merchandise Value, Volume, and Average Value Per Transaction.
  • Insights into Opportunity by end-use sectors - Get market dynamics by end-use sectors to assess emerging opportunity across various end-use sectors.
  • Develop Market Specific Strategies: Identify growth segments and target specific opportunities to formulate BNPL strategy; assess market specific key trends, drivers, and risks in the BNPL industry.
  • Get Insights into Consumer Attitude and Behaviour: Drawing from proprietary survey results, this report identifies and interprets key Buy Now Pay Later KPIs, including spend by age, gender, and income level.
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Kakao pay
  • Naver Pay

1. About this Report
1.1 Summary
1.2 Methodology
1.3 Disclaimer
2. South Korea BNPL Market Size and Future Growth Dynamics
2.1 Consumer Behavior
2.2 Competitive Landscape and Growth Strategies
2.3 Regulatory Trends
3. South Korea Buy Now Pay Later Industry Attractiveness
3.1 South Korea Buy Now Pay Later - Gross Merchandise Value Trend Analysis, 2019-2028
3.2 South Korea Buy Now Pay Later - Average Value Per Transaction Trend Analysis, 2019-2028
3.3 South Korea Buy Now Pay Later - Transaction Volume Trend Analysis, 2019-2028
4. South Korea Buy Now Pay Later Operational KPIs
4.1 Buy Now Pay Later Revenues, 2019 - 2028
4.2 Buy Now Pay Later Share by Revenue Segments
4.3 Buy Now Pay Later Merchant Commission, 2019 - 2028
4.4 Buy Now Pay Later Missed Payment Fee Revenue, 2019 - 2028
4.5 Buy Now Pay Later Pay Now & Other Income, 2019 - 2028
4.6 Buy Now Pay Later Accounts, 2019 - 2028
4.7 Buy Now Pay Later Bad Debt, 2019 - 2028
5. South Korea Buy Now Pay Later Spend Analysis by Channel
5.1 Buy Now Pay Later Market Share by Channel, 2019 - 2028
5.2 Buy Now Pay Later Online Channel Market Size and Forecast, 2019 - 2028
5.3 Buy Now Pay Later POS Channel Market Size and Forecast, 2019 - 2028
6. South Korea Buy Now Pay Later Snapshot by End-Use Sector
6.1 Buy Now Pay Later Market Share by End-Use Sector - Emerging Avenues and Future Growth Prospects
6.2 Buy Now Pay Later Sales Uplift by End-Use Sector
6.3 Buy Now Pay Later Share by Retail Product Category
7. South Korea Buy Now Pay Later in Retail Shopping: Market Size and Forecast, 2019 - 2028
7.1 South Korea Buy Now Pay Later Retail Shopping - Gross Merchandise Value Trend Analysis, 2019-2028
7.2 South Korea Buy Now Pay Later Retail Shopping - Average Value Per Transaction Trend Analysis, 2019-2028
7.3 South Korea Buy Now Pay Later Retail Shopping - Transaction Volume Trend Analysis, 2019-2028
8. South Korea Buy Now Pay Later in Home Improvement: Market Size and Forecast, 2019 - 2028
8.1 South Korea Buy Now Pay Later Home Improvement - Gross Merchandise Value Trend Analysis, 2019-2028
8.2 South Korea Buy Now Pay Later Home Improvement - Average Value Per Transaction Trend Analysis, 2019-2028
8.3 South Korea Buy Now Pay Later Home Improvement - Transaction Volume Trend Analysis, 2019-2028
9. South Korea Buy Now Pay Later in Leisure & Entertainment: Market Size and Forecast, 2019 - 2028
9.1 South Korea Buy Now Pay Later Leisure & Entertainment - Gross Merchandise Value Trend Analysis, 2019-2028
9.2 South Korea Buy Now Pay Later Leisure & Entertainment - Average Value Per Transaction Trend Analysis, 2019-2028
9.3 South Korea Buy Now Pay Later Leisure & Entertainment - Transaction Volume Trend Analysis, 2019-2028
10. South Korea Buy Now Pay Later in Healthcare and Wellness: Market Size and Forecast, 2019 - 2028
10.1 South Korea Buy Now Pay Later Healthcare and Wellness - Gross Merchandise Value Trend Analysis, 2019-2028
10.2 South Korea Buy Now Pay Later Healthcare and Wellness - Average Value Per Transaction Trend Analysis, 2019-2028
10.3 South Korea Buy Now Pay Later Healthcare and Wellness - Transaction Volume Trend Analysis, 2019-2028
11. South Korea Buy Now Pay Later in Other Segment: Market Size and Forecast, 2019 - 2028
11.1 South Korea Buy Now Pay Later Other Segment - Gross Merchandise Value Trend Analysis, 2019-2028
11.2 South Korea Buy Now Pay Later Other Segment - Average Value Per Transaction Trend Analysis, 2019-2028
11.3 South Korea Buy Now Pay Later Other Segment - Transaction Volume Trend Analysis, 2019-2028
12. South Korea Buy Now Pay Later Analysis by Consumer Attitude and Behaviour
12.1 Buy Now Pay Later Spend Share by Age Group
12.2 Buy Now Pay Later Gross Merchandise Share by Income
12.3 Buy Now Pay Later Gross Merchandise Value Share by Gender
12.4 Buy Now Pay Later Adoption Rationale
13. Further Reading
13.1 About the Publisher
13.2 Related Research

List of Figures

Figure 1: Methodology Framework
Figure 2: South Korea Buy Now Pay Later - GMV and Adoption Rationale
Figure 3: South Korea Buy Now Pay Later - Share by Gender and Age Group
Figure 4: South Korea Buy Now Pay Later - Gross Merchandise Value Trend Analysis (US$ Million), 2019-2028
Figure 5: South Korea Buy Now Pay Later - Average Value Per Transaction Trend Analysis (US$), 2019-2028
Figure 6: South Korea Buy Now Pay Later - Transaction Volume Trend Analysis (Thousand), 2019-2028
Figure 7: South Korea Buy Now Pay Later - Revenues (US$ Million), 2019-2028
Figure 8: Buy Now Pay Later Share by Revenue Segments
Figure 9: South Korea Buy Now Pay Later - Merchant Commission (US$ Million), 2019-2028
Figure 10: South Korea Buy Now Pay Later - Missed Payment Fee Revenue (US$ Million), 2019-2028
Figure 11: South Korea Buy Now Pay Later Pay Now & Other Income (US$ Million), 2019-2028
Figure 12: South Korea Buy Now Pay Later - Accounts (Thousand), 2019-2028
Figure 13: South Korea Buy Now Pay Later - Bad Debt (US$ Million), 2019-2028
Figure 14: South Korea Buy Now Pay Later - Gross Merchandise Value Market Share by Channel (%), 2019-2028
Figure 15: South Korea Buy Now Pay Later - Gross Merchandise Value by Online Channel (US$ Million), 2019-2028
Figure 16: South Korea Buy Now Pay Later - Gross Merchandise Value by POS Channel (US$ Million), 2019-2028
Figure 17: South Korea Buy Now Pay Later - Market Share by End-Use Sector, 2021 Vs. 2028
Figure 18: South Korea Buy Now Pay Later - Market Share by End-Use Segment, 2021
Figure 19: South Korea Buy Now Pay Later - Market Share by Retail Product Category, 2021
Figure 20: South Korea Buy Now Pay Later Retail Shopping - Gross Merchandise Value Trend Analysis (US$ Million), 2019-2028
Figure 21: South Korea Buy Now Pay Later Retail Shopping - Average Value Per Transaction Trend Analysis (US$), 2019-2028
Figure 22: South Korea Buy Now Pay Later Retail Shopping - Transaction Volume Trend Analysis (Thousand), 2019-2028
Figure 23: South Korea Buy Now Pay Later Home Improvement - Gross Merchandise Value Trend Analysis (US$ Million), 2019-2028
Figure 24: South Korea Buy Now Pay Later Home Improvement - Average Value Per Transaction Trend Analysis (US$), 2019-2028
Figure 25: South Korea Buy Now Pay Later Home Improvement - Transaction Volume Trend Analysis (Thousand), 2019-2028
Figure 26: South Korea Buy Now Pay Later Leisure & Entertainment - Gross Merchandise Value Trend Analysis (US$ Million), 2019-2028
Figure 27: South Korea Buy Now Pay Later Leisure & Entertainment - Average Value Per Transaction Trend Analysis (US$), 2019-2028
Figure 28: South Korea Buy Now Pay Later Leisure & Entertainment - Transaction Volume Trend Analysis (Thousand), 2019-2028
Figure 29: South Korea Buy Now Pay Later Healthcare and Wellness - Gross Merchandise Value Trend Analysis (US$ Million), 2019-2028
Figure 30: South Korea Buy Now Pay Later Healthcare and Wellness - Average Value Per Transaction Trend Analysis (US$), 2019-2028
Figure 31: South Korea Buy Now Pay Later Healthcare and Wellness - Transaction Volume Trend Analysis (Thousand), 2019-2028
Figure 32: South Korea Buy Now Pay Later Other Segment - Gross Merchandise Value Trend Analysis (US$ Million), 2019-2028
Figure 33: South Korea Buy Now Pay Later Other Segment - Average Value Per Transaction Trend Analysis (US$), 2019-2028
Figure 34: South Korea Buy Now Pay Later Other Segment - Transaction Volume Trend Analysis (Thousand), 2019-2028
Figure 35: South Korea Buy Now Pay Later - Share by Age Group in Gross Merchandise Value Terms
Figure 36: South Korea Buy Now Pay Later - Share by Income Group in Value Terms
Figure 37: South Korea Buy Now Pay Later - Share by Gender in Value Terms
Figure 38: Buy Now Pay Later - Adoption Rationale Gross Merchandise Value Analysis

List of Tables

Table 1: South Korea Buy Now Pay Later - Gross Merchandise Value Trend Analysis (US$ Million), 2019-2028
Table 2: South Korea Buy Now Pay Later - Average Value Per Transaction Trend Analysis (US$), 2019-2028
Table 3: South Korea Buy Now Pay Later - Transaction Volume Trend Analysis (Thousand), 2019-2028
Table 4: South Korea Buy Now Pay Later - Revenues (US$ Million), 2019-2028
Table 5: South Korea Buy Now Pay Later - Merchant Commission (US$ Million), 2019-2028
Table 6: South Korea Buy Now Pay Later - Missed Payment Fee Revenue (US$ Million), 2019-2028
Table 7: South Korea Buy Now Pay Later Pay Now & Other Income (US$ Million), 2019-2028
Table 8: South Korea Buy Now Pay Later - Accounts (Thousand), 2019-2028
Table 9: South Korea Buy Now Pay Later - Bad Debt (US$ Million), 2019-2028
Table 10: South Korea Buy Now Pay Later - Gross Merchandise Value by Online Channel (US$ Million), 2019-2028
Table 11: South Korea Buy Now Pay Later - Gross Merchandise Value by POS Channel (US$ Million), 2019-2028
Table 12: South Korea Buy Now Pay Later Retail Shopping - Gross Merchandise Value Trend Analysis (US$ Million), 2019-2028
Table 13: South Korea Buy Now Pay Later Retail Shopping - Average Value Per Transaction Trend Analysis (US$), 2019-2028
Table 14: South Korea Buy Now Pay Later Retail Shopping - Transaction Volume Trend Analysis (Thousand), 2019-2028
Table 15: South Korea Buy Now Pay Later Home Improvement - Gross Merchandise Value Trend Analysis (US$ Million), 2019-2028
Table 16: South Korea Buy Now Pay Later Home Improvement - Average Value Per Transaction Trend Analysis (US$), 2019-2028
Table 17: South Korea Buy Now Pay Later Retail Shopping Home Improvement - Transaction Volume Trend Analysis (Thousand), 2019-2028
Table 18: South Korea Buy Now Pay Later Leisure & Entertainment - Gross Merchandise Value Trend Analysis (US$ Million), 2019-2028
Table 19: South Korea Buy Now Pay Later Leisure & Entertainment - Average Value Per Transaction Trend Analysis (US$), 2019-2028
Table 20: South Korea Buy Now Pay Later Leisure & Entertainment - Transaction Volume Trend Analysis (Thousand), 2019-2028
Table 21: South Korea Buy Now Pay Later Healthcare and Wellness - Gross Merchandise Value Trend Analysis (US$ Million), 2019-2028
Table 22: South Korea Buy Now Pay Later Healthcare and Wellness - Average Value Per Transaction Trend Analysis (US$), 2019-2028
Table 23: South Korea Buy Now Pay Later Healthcare and Wellness - Transaction Volume Trend Analysis (Thousand), 2019-2028
Table 24: South Korea Buy Now Pay Later Other Segment - Gross Merchandise Value Trend Analysis (US$ Million), 2019-2028
Table 25: South Korea Buy Now Pay Later Other Segment - Average Value Per Transaction Trend Analysis (US$), 2019-2028
Table 26: South Korea Buy Now Pay Later Other Segment - Transaction Volume Trend Analysis (Thousand), 2019-2028
Note: Product cover images may vary from those shown
  • Naver Pay
  • Kakao pay
Note: Product cover images may vary from those shown

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