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Malaysia 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

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    Report

  • 50 Pages
  • August 2022
  • Region: Malaysia
  • PayNXT360
  • ID: 5305023
According to the publisher, BNPL payments in the country are expected to grow by 78.7% on an annual basis to reach US$1,117.3 million in 2022.

Medium to long term growth story of BNPL industry in Malaysia remains strong. BNPL payment adoption is expected to grow steadily over the forecast period, recording a CAGR of 35.4% during 2022-2028. The BNPL Gross Merchandise Value in the country will increase from US$625.3 million in 2021 to reach US$6,884.7 million by 2028.

Malaysian consumer has increasingly shifted their consumption behavior online after going through various pandemic-related restrictions over the last two years. Adoption of digital payment methods, including buy now pay later, has surged significantly in the country, as the payment method offered consumers higher purchasing power and easier access to credit.

The digital payment method is projected to go mainstream over the next three to four years on the back of growing adoption among merchants and consumers. In Malaysia, innovations like a BNPL service on credit cards and insurance have already emerged in the market. There have been several instances where established banks partner with pure-play BNPL players to meet consumer expectations.

While the BNPL market is projected to record robust growth over the next three to four years, Bank Negara Malaysia, along with the Ministry of Finance and Securities Commission Malaysia, is working to enact the Consumer Credit Act in 2022. Notably, the act aims to strengthen regulatory arrangements for all consumer credit activities, including BNPL services offered by non-banking institutions.

New players are emerging in the competitive BNPL landscape in Malaysia

Amid the projected growth in the Malaysian BNPL market over the next few years, new players are entering the market intending to gain market share in the already competitive but growing BNPL industry. For instance,
  • In July 2022, Ablr, a new BNPL service, announced that the platform had gone live in Malaysia. Using the Ablr BNPL service, consumers can pay for healthcare expenses, music classes, travel experiences, and home décor products, among other things. Notably, to shop using Ablr, consumers must scan QR codes or pay using a payment link.
  • In July 2022, ShopBack, one of the leading Singapore-based rewards platforms, announced the launch of its BNPL product in Malaysia and Singapore. The BNPL feature integrated into the ShopBack app allows users to pay at over 4,000 online and in-store merchants in Malaysia and Singapore. Notably, ShopBack PayLater, the BNPL feature, integrates the services of hoolah, which the firm acquired in 2021.
The entry of these new players into the BNPL sector is expected to further drive competition and innovation in Malaysia. This will subsequently assist the market growth from the short to medium-term perspective.

Traditional banks are partnering with pure-play BNPL providers to offer deferred payment services to their customers in Malaysia

While traditional banking institutions were previously hesitant to launch a BNPL feature for their customers, they are now either partnering with pure-play BNPL providers or introducing their service in Malaysia. For instance,
  • In July 2022, CIMB Bank Bhd announced that the firm had entered into a strategic collaboration with Fave, a Singapore-based BNPL provider, to offer a mobile-first BNPL service to its customers in Malaysia. Under the collaboration, over 8.4 million CIMB Bank's customers can now access the BNPL payment method offered by Fave to make purchases at more than 15,000 merchant locations. The launch of the BNPL feature comes amid the changing consumer spending and shopping behaviors.
Over the next three to four years, the publisher expects more banking institutions to launch BNPL services for their customers in Malaysia, either through strategic collaboration with BNPL providers or by introducing their own service.

BNPL providers are targeting different industries to drive adoption of their services and transaction volume in Malaysia

During the global pandemic outbreak, BNPL providers aggressively partnered with e-commerce marketplaces to drive their adoption among consumers globally. While BNPL firms continue to partner with e-commerce platforms, they also target other industries to drive their transaction volume in Malaysia. For instance,
  • In April 2022, Pace, one of the leading BNPL players in the Southeast Asian market, announced that the firm had entered into a partnership with Shangri-La Hotels and Resorts to introduce the BNPL payment method at participating hotels in Malaysia. This will allow travelers to split their payments over three months at no additional cost.
  • In March 2022, hoolah, another Southeast Asian BNPL firm, announced that the firm had partnered with Malaysian Aviation Group (MAG), the parent firm of Malaysia Airlines. Under the partnership, hoolah will offer travelers in Malaysia, Singapore, and Hong Kong, opting for Malaysia Airlines to pay for their flight tickets in installments at no extra cost.
The global travel and tourism industry is expected to post a strong growth recovery in 2022. Consequently, these strategic partnerships between BNPL providers and businesses in the travel and tourism industry could mean strong growth in transaction value and volume amid the growing pent-up travel demand. The publisher expects more such strategic collaborations from the short to medium-term perspective in Malaysia.

Scope

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

Malaysia BNPL Market Size and Spending Pattern

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

Malaysia 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

Malaysia Buy Now Pay Later Market Share Analysis by Key Players (Atome, Hoolah, Grab, Pine Labs All Tap, Pay Later)

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

  • Online Channel
  • POS Channel

Malaysia 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

Malaysia 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

Malaysia 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

Malaysia 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

Malaysia 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

Malaysia 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

Table of Contents

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

Companies Mentioned

  • Atome
  • Rely
  • Split
  • Grab
  • Pay Later
  • hoolah
  • HSBC bank
  • AFFIN Bank
  • CIMB Bank
  • Am Bank
  • RHB Bank
  • IOU Pay

Methodology

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