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Mexico 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 - Q1 2022 Update

  • ID: 5305022
  • Report
  • January 2022
  • Region: Mexico
  • 50 Pages
  • PayNXT360

FEATURED COMPANIES

  • Aplazo
  • Atrato
  • Círculo de Crédito
  • Graviti
  • Kueski Pay
  • Nelo
According to the Q4 2021 BNPL Survey, BNPL payment in Mexico is expected to grow by 100.3% on annual basis to reach US$ 2837.6 million in 2022.

Medium to long term growth story of BNPL industry in Mexico remains strong. The BNPL payment adoption is expected to grow steadily over the forecast period, recording a CAGR of 32.1% during 2022-2028. The BNPL Gross Merchandise Value in the country will increase from US$ 1416.7 million in 2021 to reach US$ 15051.4 million by 2028.

The Mexican BNPL market has recorded substantial growth over the last four to eight quarters on the back of widespread adoption among both merchants and consumers. The publisher expects the trend to continue from the short to medium-term perspective, as consumers from the informal economy are looking at the payment method to get access to credit.

With the high-growth potential offered by the Mexican BNPL sector, the publisher also expects several global firms, including regional Latin American players, to expand in Mexico over the next four to eight quarters.

Global BNPL players are launching their split payment service for consumers in Mexico

In the midst of the growing demand from both consumers and merchants in the country, global BNPL players are seeking to launch their own split payment service in the high-growth potential market of Mexico. For instance,
  • In September 2021, Australia-based BNPL firm, Zip, announced that the firm had launched its split payment product for consumers in Mexico. The entry of Zip in the Mexico BNPL market comes at a time when there is a growing demand for deferred payment services among both consumers and merchants. Since its launch in the country, Zip has helped merchants to increase their basket sizes and conversion rates.
  • More than 30 merchants have already reported having increased their sales by 40% since their integration with the Zip BNPL payment method. Some of the brands that it has partnered with include All Saints, Maje, and Sandro, among several others. With one of the fastest-growing e-commerce markets in Latin America, Zip aims to capitalize on it and further boost its share in the global BNPL market over the next four to eight quarters.

BNPL firms are opting for the business-to-business-to-consumer approach to grow business in Mexico

In the midst of the growing competition in the Mexican BNPL space, firms are adopting a distinct approach when compared to other BNPL platforms. For instance,
  • Nelo, the Mexico-based BNPL startup, launched its BNPL product by integrating the payment option in the merchant checkout experience. The company has taken the business-to-business-to-consumer approach for launching and growing its product adoption in the country. Notably, the strategy is allowing the BNPL firm to acquire customers directly from their merchant partners’ app and target repeat purchases.
  • The BNPL firm has integrated with over a dozen point-of-sale and checkout systems. As of October 2021, the firm has issued over 400K loans to several thousands of consumers across the country. The firm’s strategic partnership with high-volume merchants is expected to further support its growth in the country from the short to medium-term perspective.

BNPL firms are using alternative data to determine the creditworthiness of consumers in Mexico

One of the challenges that are often faced by BNPL providers operating in the country is the assessment of consumer creditworthiness. More than 40% of the consumers have no credit history in the country. To overcome the challenge, BNPL firms are using alternative consumer data in Mexico. For instance,
  • Aplazo, one of the leading BNPL players in Mexico, uses alternative data, such as telecom data and open banking, to assess consumer creditworthiness and level of affordability. Using these alternative data points, the firm is providing the BNPL scheme to consumers across the country.
  • Since the launch of its services in November 2020, the firm has forged strategic alliances with more than 1,000 merchants in Mexico. These merchants include K-Swiss, Sundar Store, Adidas, Cardela, and Abnea.

Scope


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

Mexico BNPL Market Size and Spending Pattern

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

Mexico 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

Mexico Buy Now Pay Later Market Share Analysis by Key Players


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

  • Online Channel
  • POS Channel

Mexico 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

Mexico 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

Mexico 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

Mexico 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

Mexico 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

Mexico 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.
  • Market Share by Key Players

FEATURED COMPANIES

  • Aplazo
  • Atrato
  • Círculo de Crédito
  • Graviti
  • Kueski Pay
  • Nelo

1. About this Report
1.1 Summary
1.2 Methodology
1.3 Disclaimer
2. Mexico BNPL Market Size and Future Growth Dynamics
2.1 Consumer Behavior
2.2 Competitive Landscape and Growth Strategies
2.3 Market Share
2.4 Regulatory Trends
3. Mexico Buy Now Pay Later Industry Attractiveness
3.1 Mexico Buy Now Pay Later - Gross Merchandise Value Trend Analysis, 2019-2028
3.2 Mexico Buy Now Pay Later - Average Value Per Transaction Trend Analysis, 2019-2028
3.3 Mexico Buy Now Pay Later - Transaction Volume Trend Analysis, 2019-2028
4. Mexico 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. Mexico 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. Mexico 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. Mexico Buy Now Pay Later in Retail Shopping: Market Size and Forecast, 2019 - 2028
7.1 Mexico Buy Now Pay Later Retail Shopping - Gross Merchandise Value Trend Analysis, 2019-2028
7.2 Mexico Buy Now Pay Later Retail Shopping - Average Value Per Transaction Trend Analysis, 2019-2028
7.3 Mexico Buy Now Pay Later Retail Shopping - Transaction Volume Trend Analysis, 2019-2028
8. Mexico Buy Now Pay Later in Home Improvement: Market Size and Forecast, 2019 - 2028
8.1 Mexico Buy Now Pay Later Home Improvement - Gross Merchandise Value Trend Analysis, 2019-2028
8.2 Mexico Buy Now Pay Later Home Improvement - Average Value Per Transaction Trend Analysis, 2019-2028
8.3 Mexico Buy Now Pay Later Home Improvement - Transaction Volume Trend Analysis, 2019-2028
9. Mexico Buy Now Pay Later in Leisure & Entertainment: Market Size and Forecast, 2019 - 2028
9.1 Mexico Buy Now Pay Later Leisure & Entertainment - Gross Merchandise Value Trend Analysis, 2019-2028
9.2 Mexico Buy Now Pay Later Leisure & Entertainment - Average Value Per Transaction Trend Analysis, 2019-2028
9.3 Mexico Buy Now Pay Later Leisure & Entertainment - Transaction Volume Trend Analysis, 2019-2028
10. Mexico Buy Now Pay Later in Healthcare and Wellness: Market Size and Forecast, 2019 - 2028
10.1 Mexico Buy Now Pay Later Healthcare and Wellness - Gross Merchandise Value Trend Analysis, 2019-2028
10.2 Mexico Buy Now Pay Later Healthcare and Wellness - Average Value Per Transaction Trend Analysis, 2019-2028
10.3 Mexico Buy Now Pay Later Healthcare and Wellness - Transaction Volume Trend Analysis, 2019-2028
11. Mexico Buy Now Pay Later in Other Segment: Market Size and Forecast, 2019 - 2028
11.1 Mexico Buy Now Pay Later Other Segment - Gross Merchandise Value Trend Analysis, 2019-2028
11.2 Mexico Buy Now Pay Later Other Segment - Average Value Per Transaction Trend Analysis, 2019-2028
11.3 Mexico Buy Now Pay Later Other Segment - Transaction Volume Trend Analysis, 2019-2028
12. Mexico 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: Mexico Buy Now Pay Later - GMV and Adoption Rationale
Figure 3: Mexico Buy Now Pay Later - Share by Gender and Age Group
Figure 4: Mexico Buy Now Pay Later - Market Share Analysis by Key Players (%)
Figure 5: Mexico Buy Now Pay Later - Gross Merchandise Value Trend Analysis (US$ Million), 2019-2028
Figure 6: Mexico Buy Now Pay Later - Average Value Per Transaction Trend Analysis (US$), 2019-2028
Figure 7: Mexico Buy Now Pay Later - Transaction Volume Trend Analysis (Thousand), 2019-2028
Figure 8: Mexico Buy Now Pay Later - Revenues (US$ Million), 2019-2028
Figure 9: Buy Now Pay Later Share by Revenue Segments
Figure 10: Mexico Buy Now Pay Later - Merchant Commission (US$ Million), 2019-2028
Figure 11: Mexico Buy Now Pay Later - Missed Payment Fee Revenue (US$ Million), 2019-2028
Figure 12: Mexico Buy Now Pay Later Pay Now & Other Income (US$ Million), 2019-2028
Figure 13: Mexico Buy Now Pay Later - Accounts (Thousand), 2019-2028
Figure 14: Mexico Buy Now Pay Later - Bad Debt (US$ Million), 2019-2028
Figure 15: Mexico Buy Now Pay Later - Gross Merchandise Value Market Share by Channel (%), 2019-2028
Figure 16: Mexico Buy Now Pay Later - Gross Merchandise Value by Online Channel (US$ Million), 2019-2028
Figure 17: Mexico Buy Now Pay Later - Gross Merchandise Value by POS Channel (US$ Million), 2019-2028
Figure 18: Mexico Buy Now Pay Later - Market Share by End-Use Sector, 2021 Vs. 2028
Figure 19: Mexico Buy Now Pay Later - Market Share by End-Use Segment, 2021
Figure 20: Mexico Buy Now Pay Later - Market Share by Retail Product Category, 2021
Figure 21: Mexico Buy Now Pay Later Retail Shopping - Gross Merchandise Value Trend Analysis (US$ Million), 2019-2028
Figure 22: Mexico Buy Now Pay Later Retail Shopping - Average Value Per Transaction Trend Analysis (US$), 2019-2028
Figure 23: Mexico Buy Now Pay Later Retail Shopping - Transaction Volume Trend Analysis (Thousand), 2019-2028
Figure 24: Mexico Buy Now Pay Later Home Improvement - Gross Merchandise Value Trend Analysis (US$ Million), 2019-2028
Figure 25: Mexico Buy Now Pay Later Home Improvement - Average Value Per Transaction Trend Analysis (US$), 2019-2028
Figure 26: Mexico Buy Now Pay Later Home Improvement - Transaction Volume Trend Analysis (Thousand), 2019-2028
Figure 27: Mexico Buy Now Pay Later Leisure & Entertainment - Gross Merchandise Value Trend Analysis (US$ Million), 2019-2028
Figure 28: Mexico Buy Now Pay Later Leisure & Entertainment - Average Value Per Transaction Trend Analysis (US$), 2019-2028
Figure 29: Mexico Buy Now Pay Later Leisure & Entertainment - Transaction Volume Trend Analysis (Thousand), 2019-2028
Figure 30: Mexico Buy Now Pay Later Healthcare and Wellness - Gross Merchandise Value Trend Analysis (US$ Million), 2019-2028
Figure 31: Mexico Buy Now Pay Later Healthcare and Wellness - Average Value Per Transaction Trend Analysis (US$), 2019-2028
Figure 32: Mexico Buy Now Pay Later Healthcare and Wellness - Transaction Volume Trend Analysis (Thousand), 2019-2028
Figure 33: Mexico Buy Now Pay Later Other Segment - Gross Merchandise Value Trend Analysis (US$ Million), 2019-2028
Figure 34: Mexico Buy Now Pay Later Other Segment - Average Value Per Transaction Trend Analysis (US$), 2019-2028
Figure 35: Mexico Buy Now Pay Later Other Segment - Transaction Volume Trend Analysis (Thousand), 2019-2028
Figure 36: Mexico Buy Now Pay Later - Share by Age Group in Gross Merchandise Value Terms
Figure 37: Mexico Buy Now Pay Later - Share by Income Group in Value Terms
Figure 38: Mexico Buy Now Pay Later - Share by Gender in Value Terms
Figure 39: Buy Now Pay Later - Adoption Rationale Gross Merchandise Value Analysis

List of Tables

Table 1: Mexico Buy Now Pay Later - Gross Merchandise Value Trend Analysis (US$ Million), 2019-2028
Table 2: Mexico Buy Now Pay Later - Average Value Per Transaction Trend Analysis (US$), 2019-2028
Table 3: Mexico Buy Now Pay Later - Transaction Volume Trend Analysis (Thousand), 2019-2028
Table 4: Mexico Buy Now Pay Later - Revenues (US$ Million), 2019-2028
Table 5: Mexico Buy Now Pay Later - Merchant Commission (US$ Million), 2019-2028
Table 6: Mexico Buy Now Pay Later - Missed Payment Fee Revenue (US$ Million), 2019-2028
Table 7: Mexico Buy Now Pay Later Pay Now & Other Income (US$ Million), 2019-2028
Table 8: Mexico Buy Now Pay Later - Accounts (Thousand), 2019-2028
Table 9: Mexico Buy Now Pay Later - Bad Debt (US$ Million), 2019-2028
Table 10: Mexico Buy Now Pay Later - Gross Merchandise Value by Online Channel (US$ Million), 2019-2028
Table 11: Mexico Buy Now Pay Later - Gross Merchandise Value by POS Channel (US$ Million), 2019-2028
Table 12: Mexico Buy Now Pay Later Retail Shopping - Gross Merchandise Value Trend Analysis (US$ Million), 2019-2028
Table 13: Mexico Buy Now Pay Later Retail Shopping - Average Value Per Transaction Trend Analysis (US$), 2019-2028
Table 14: Mexico Buy Now Pay Later Retail Shopping - Transaction Volume Trend Analysis (Thousand), 2019-2028
Table 15: Mexico Buy Now Pay Later Home Improvement - Gross Merchandise Value Trend Analysis (US$ Million), 2019-2028
Table 16: Mexico Buy Now Pay Later Home Improvement - Average Value Per Transaction Trend Analysis (US$), 2019-2028
Table 17: Mexico Buy Now Pay Later Retail Shopping Home Improvement - Transaction Volume Trend Analysis (Thousand), 2019-2028
Table 18: Mexico Buy Now Pay Later Leisure & Entertainment - Gross Merchandise Value Trend Analysis (US$ Million), 2019-2028
Table 19: Mexico Buy Now Pay Later Leisure & Entertainment - Average Value Per Transaction Trend Analysis (US$), 2019-2028
Table 20: Mexico Buy Now Pay Later Leisure & Entertainment - Transaction Volume Trend Analysis (Thousand), 2019-2028
Table 21: Mexico Buy Now Pay Later Healthcare and Wellness - Gross Merchandise Value Trend Analysis (US$ Million), 2019-2028
Table 22: Mexico Buy Now Pay Later Healthcare and Wellness - Average Value Per Transaction Trend Analysis (US$), 2019-2028
Table 23: Mexico Buy Now Pay Later Healthcare and Wellness - Transaction Volume Trend Analysis (Thousand), 2019-2028
Table 24: Mexico Buy Now Pay Later Other Segment - Gross Merchandise Value Trend Analysis (US$ Million), 2019-2028
Table 25: Mexico Buy Now Pay Later Other Segment - Average Value Per Transaction Trend Analysis (US$), 2019-2028
Table 26: Mexico Buy Now Pay Later Other Segment - Transaction Volume Trend Analysis (Thousand), 2019-2028
  • Nelo
  • Kueski Pay
  • Círculo de Crédito
  • Atrato
  • Graviti
  • Aplazo
  • wenance

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