Vietnam Buy Now Pay Later Business and Investment Opportunity Report 2024: BNPL Payments to Grow by 41.8% this Year – Firms are Forging Strategic Alliances to Widen Distribution – ResearchAndMarkets.com

webnexttech | Vietnam Buy Now Pay Later Business and Investment Opportunity Report 2024: BNPL Payments to Grow by 41.8% this Year - Firms are Forging Strategic Alliances to Widen Distribution - ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “Vietnam Buy Now Pay Later Business and Investment Opportunities Databook – 75+ KPIs on BNPL Market Size, End-Use Sectors, Market Share, Product Analysis, Business Model, Demographics – Q1 2024 Update” report has been added to ResearchAndMarkets.com’s offering. BNPL payments in the country are expected to grow by 41.8% on an annual basis to reach US$3.33 billion in 2024. This report provides a detailed data-centric analysis of the Buy Now Pay Later (BNPL) industry, covering market opportunities and risks across a range of retail categories. With over 75 KPIs at the country level, this report provides a comprehensive understanding of BNPL market dynamics, market size and forecast, and market share statistics. The medium to long-term growth story of the BNPL industry in the country remains strong. BNPL payment adoption is expected to grow steadily over the forecast period, recording a CAGR of 27.6% during 2024-2029. It breaks down market opportunities by type of business model, sales channels (offline and online), and distribution models. In addition, it provides a snapshot of consumer behaviour and retail spending dynamics. KPIs in both value and volume terms help in getting an in-depth understanding of end market dynamics. The BNPL gross merchandise value in the country will increase from US$2.34 billion in 2023 to reach US$11.27 billion by 2029. The buy now pay later market is thriving in Vietnam and the trend is projected to continue further in 2024. The rising consumption, coupled with low credit card penetration, is aiding the growth of the industry in Vietnam. To tap into the high-growth sector, not only domestic firms are competing but even regional players like Atome and Kredivo are seeking to scale their operations. Domestic firms, on the other hand, are entering into strategic partnerships to widen the distribution of their BNPL product. The trend is projected to continue further over the medium term, supporting the competitive landscape in the Vietnamese BNPL industry in 2024. Overall, the publisher maintains a positive growth outlook for the buy now pay later market over the next three to four years. Rising consumption and low credit card penetration are driving adoption of BNPL in Vietnam The consumption story is changing rapidly in Vietnam. The rising middle-income class, coupled with lifestyle changes, is driving consumption among Vietnamese households and this trend is supporting the uptake of innovative payment solutions like buy now pay later in the domestic market. The BNPL growth is also supported by the low credit card penetration in the Vietnamese market. An increasing number of shoppers are utilizing BNPL to fund their purchases, as it provides easier access to credit and higher purchasing power. The trend is expected to continue further in Vietnam over the next three to four years, supporting the broader industry growth. With the market projected to grow, the publisher also expects more regional and global players to expand their presence in the Vietnamese market from the short to medium-term perspective. Firms are forging strategic alliances to widen the distribution of their BNPL product in Vietnam The demand for credit products like buy now pay later schemes is growing rapidly among consumers in Vietnam. Consequently, to better serve the rising demand, firms are entering into strategic collaborations to widen the distribution of their products. Fundiin, in November 2023, entered into a strategic partnership with Pharmacity in Vietnam. Fundiin’s presence at Pharmacity, one of the leading retail pharmacy chains having approximately 1,000 stores across the country, will enable the BNPL firm to tap into more customers. This will also drive the firm’s gross merchandise value and volume for the BNPL provider. In Vietnam, Fundiin is offering BNPL services across different industry verticals including cinema, fashion, cosmetics, and travel among many others. MoMo, a leading digital wallet and BNPL provider in Vietnam, also entered into a strategic partnership with Grab. The firm entered into a collaboration in November 2023. The partnership will enable MoMo users to make digital payments, including buy now pay later option, for making use of Grab services. With more than 31 million users, Grab stands to benefit significantly through this collaboration with MoMo in the Vietnamese market. MoMo, on the other hand, will also experience higher gross merchandise value and volume due to this collaboration, as Grab offers a wide range of services. From the short to medium-term perspective, the publisher expects more such strategic collaborations in the Vietnamese BNPL industry. This will support innovation and a competitive landscape in the fast-growing sector, thereby driving the growth of the industry over the next three to four years. The BNPL payment industry in Vietnam has recorded strong growth over the last four quarters, supported by increased e-commerce penetration. Reasons to buy Get a comprehensive understanding of market dynamics for Buy Now Pay Later: Identify market opportunities, major trends, and forecasting (2020-2029). Understand market trends through crucial KPIs like Gross Merchandise Value, Volume, and Average Value per Transaction, to stay ahead of the curve.Insights by end-use sectors: Evaluate new opportunities across multiple end-use sectors, and obtain market dynamics by end-use sectors in order to swiftly catch up with the latest and upcoming developments in BNPL markets.Market-specific strategies: Identify growth segments focused on specific opportunities, and analysing market-specific risks and important trends in the BNPL sector with our exclusive blend of quantitative forecasting and innovative insights.Gain knowledge of consumer attitudes and actions: This report identifies and interprets important Buy Now Pay Later KPIs, such as spend by age, gender, and income level, using data from a proprietary survey.Develop proactive and lucrative business strategies through market intelligence and forward-looking analysis of BNPL market spend and major opportunities in Vietnam. Key Attributes: Scope Vietnam BNPL Market Size and Spending Pattern, 2020-2029 Gross Merchandise Value Trend AnalysisAverage Value Per Transaction Trend AnalysisTransaction Volume Trend Analysis Vietnam Buy Now Pay Later Revenue Analysis, 2020-2029 Buy Now Pay Later RevenuesBuy Now Pay Later Share by Revenue SegmentsBuy Now Pay Later Revenue by Merchant CommissionBuy Now Pay Later Revenue by Missed Payment Fee RevenueBuy Now Pay Later Revenue by Pay Now & Other Income Vietnam Buy Now Pay Later Operational KPIs & Statistics, 2020-2029 Buy Now Pay Later Active Consumer BaseBuy Now Pay Later Bad Debt Vietnam BNPL by Purpose, 2020-2029 Convenience – Short Term LoansCredit – Long Term Loans Vietnam BNPL by Business Model, 2020-2029 Two-Party (BNPL offered by retailers)Three-Party BNPL Offering Vietnam BNPL by Merchant Ecosystem, 2020-2029 Open Loop SystemClosed Loop System Vietnam BNPL by Distribution Model Analysis, 2020-2029 StandaloneBanks & Payment Service ProvidersMarketplaces Vietnam BNPL Analysis by Channel, 2020-2029 Online ChannelPOS Channel Vietnam Buy Now Pay Later in Retail Shopping: Market Size and Forecast, 2020-2029 Gross Merchandise Value Trend AnalysisAverage Value Per Transaction Trend AnalysisTransaction Volume Trend Analysis Vietnam Buy Now Pay Later in Home Improvement: Market Size and Forecast, 2020-2029 Gross Merchandise Value Trend AnalysisAverage Value Per Transaction Trend AnalysisTransaction Volume Trend Analysis Vietnam Buy Now Pay Later in Travel: Market Size and Forecast, 2020-2029 Gross Merchandise Value Trend AnalysisAverage Value per Transaction Trend AnalysisTransaction Volume Trend Analysis Vietnam Buy Now Pay Later in Media and Entertainment: Market Size and Forecast, 2020-2029 Gross Merchandise Value Trend AnalysisAverage Value per Transaction Trend AnalysisTransaction Volume Trend Analysis Vietnam Buy Now Pay Later in Services: Market Size and Forecast, 2020-2029 Gross Merchandise Value Trend AnalysisAverage Value Per Transaction Trend AnalysisTransaction Volume Trend Analysis Vietnam Buy Now Pay Later in Automotive: Market Size and Forecast, 2020-2029 Gross Merchandise Value Trend AnalysisAverage Value Per Transaction Trend AnalysisTransaction Volume Trend Analysis Vietnam Buy Now Pay Later in Healthcare and Wellness: Market Size and Forecast, 2020-2029 Gross Merchandise Value Trend AnalysisAverage Value Per Transaction Trend AnalysisTransaction Volume Trend Analysis Vietnam Buy Now Pay Later in Others: Market Size and Forecast Gross Merchandise Value Trend AnalysisAverage Value Per Transaction Trend AnalysisTransaction Volume Trend Analysis Vietnam Buy Now Pay Later Analysis by Consumer Attitude and Behaviour Sales Uplift by Product CategoryShare by Age GroupShare by IncomeShare by GenderAdoption RationaleAverage Monthly Expense segments For more information about this report visit https://www.researchandmarkets.com/r/d9cynq About ResearchAndMarkets.com ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. Contacts ResearchAndMarkets.comLaura Wood, Senior Press [email protected] For E.S.T Office Hours Call 1-917-300-0470For U.S./ CAN Toll Free Call 1-800-526-8630For GMT Office Hours Call +353-1-416-8900 The content is by Business Wire. Headlines of Today Media is not responsible for the content provided or any links related to this content. Headlines of Today Media is not responsible for the correctness, topicality or the quality of the content.

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