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India Buy Now Pay Later Business and Investment Opportunities

India Buy Now Pay Later Business and Investment Opportunities

In India, the buy now, pay later (BNPL) flexible payment method that initially started with e-commerce marketplaces has gradually moved into other industry verticals. Food delivery, the travel industr...

India 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
Summary
In India, the buy now, pay later (BNPL) flexible payment method that initially started with e-commerce marketplaces has gradually moved into other industry verticals. Food delivery, the travel industry, and online grocery buying are some of the sectors wherein BNPL providers are experiencing a lot of growth. 

The higher purchasing power offered by BNPL in times of coronavirus pandemic is driving the growth of the sector. However, it is the informal nature of accessing credit that is acting as the primary driver behind the rise of the BNPL segment in India. According to PayNXT360’s Q2 2021 BNPL Survey, BNPL payment in the country is expected to grow by 72.7% on annual basis to reach US$ 6327.2 million in 2021.

The digital payment industry is one such segment that experienced immense growth amid Covid-19. India was well on track to record significant growth in the digital payment category even before the pandemic. However, the global coronavirus outbreak has dramatically accelerated the shift.
 
Moreover, strong growth of the e-commerce sector helped startups and fintech giants to establish their footprints in the BNPL space in India. For instance, the pay later service offered by Amazon has more than two million users in India and has already been used more than 10 million times since its launch in April 2020.

The growing popularity of credit among consumers in India has even forced traditional banking players to venture into the BNPL space. For attracting non-credit card users in the country, conventional banking players such as ICICI Bank and HDFC Bank have added BNPL product offerings to their existing set of financial products. In November 2020, ICICI Bank, in partnership with Pine Labs, launched a flexible payment solution that allows consumers to make in-store payments.

Medium to long term growth story of BNPL industry in India remains strong. The BNPL payment adoption is expected to grow steadily over the forecast period, recording a CAGR of 28.9% during 2021-2028. The BNPL Gross Merchandise Value in the country will increase from US$ 3,663.3 million in 2020 to reach US$ 37,440.2 million by 2028.
Scope
This report provides in-depth, data-centric analysis of Buy Now Pay Later industry in India. Below is a summary of key market segments:
India BNPL Market Size and Spending Pattern
•	Gross Merchandise Value Trend Analysis 
•	Average Value Per Transaction Trend Analysis 
•	Transaction Volume Trend Analysis 

India Buy Now Pay Later Market Share Analysis by Key Players
India Buy Now Pay Later Spend Analysis by Channel: Market Size and Forecast
•	Online Channel
•	POS Channel
India 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 
India 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
India 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
India 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
India Buy Now Pay Later in Education: Market Size and Forecast
•	Gross Merchandise Value Trend Analysis 
•	Average Value Per Transaction Trend Analysis 
•	Transaction Volume Trend Analysis
India Buy Now Pay Later in Automotive: Market Size and Forecast
•	Gross Merchandise Value Trend Analysis 
•	Average Value Per Transaction Trend Analysis 
•	Transaction Volume Trend Analysis
India 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
Reason to buy
• Banks are taking the BNPL route to expand consumer base in India. In November 2020, ICICI Bank, in partnership with Pine Labs, launched a flexible payment solution that allows consumers to make in-store payments. Similarly, one of India's largest private banking players, HDFC Bank, introduced the BNPL service in 2018. Termed as Flexipay, customers of the bank can make payments on various online platforms.

• 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. India 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. India Buy Now Pay Later Industry Attractiveness
3.1 India Buy Now Pay Later – Gross Merchandise Value Trend Analysis, 2019-2028
3.2 India Buy Now Pay Later – Average Value Per Transaction Trend Analysis, 2019-2028
3.3 India Buy Now Pay Later – Transaction Volume Trend Analysis, 2019-2028

4. India 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 Consumer Account Count, 2019 – 2028
4.7 Buy Now Pay Later Bad Debt, 2019 – 2028

5. India 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. India 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. India Buy Now Pay Later in Retail Shopping: Market Size and Forecast, 2019 – 2028
7.1 India Buy Now Pay Later Retail Shopping – Gross Merchandise Value Trend Analysis, 2019-2028
7.2 India Buy Now Pay Later Retail Shopping – Average Value Per Transaction Trend Analysis, 2019-2028
7.3 India Buy Now Pay Later Retail Shopping – Transaction Volume Trend Analysis, 2019-2028

8. India Buy Now Pay Later in Home Improvement: Market Size and Forecast, 2019 – 2028
8.1 India Buy Now Pay Later Home Improvement – Gross Merchandise Value Trend Analysis, 2019-2028
8.2 India Buy Now Pay Later Home Improvement – Average Value Per Transaction Trend Analysis, 2019-2028
8.3 India Buy Now Pay Later Home Improvement – Transaction Volume Trend Analysis, 2019-2028

9. India Buy Now Pay Later in Leisure & Entertainment: Market Size and Forecast, 2019 – 2028
9.1 India Buy Now Pay Later Leisure & Entertainment – Gross Merchandise Value Trend Analysis, 2019-2028
9.2 India Buy Now Pay Later Leisure & Entertainment – Average Value Per Transaction Trend Analysis, 2019-2028
9.3 India Buy Now Pay Later Leisure & Entertainment – Transaction Volume Trend Analysis, 2019-2028

10. India Buy Now Pay Later in Healthcare and Wellness: Market Size and Forecast, 2019 – 2028
10.1 India Buy Now Pay Later Healthcare and Wellness – Gross Merchandise Value Trend Analysis, 2019-2028
10.2 India Buy Now Pay Later Healthcare and Wellness – Average Value Per Transaction Trend Analysis, 2019-2028
10.3 India Buy Now Pay Later Healthcare and Wellness – Transaction Volume Trend Analysis, 2019-2028

11. India Buy Now Pay Later in Other Segment: Market Size and Forecast, 2019 – 2028
11.1 India Buy Now Pay Later Other Segment – Gross Merchandise Value Trend Analysis, 2019-2028
11.2 India Buy Now Pay Later Other Segment – Average Value Per Transaction Trend Analysis, 2019-2028
11.3 India Buy Now Pay Later Other Segment – Transaction Volume Trend Analysis, 2019-2028

12. India 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 Gross Merchandise Value Analysis

13. Further Reading
13.1 About PayNXT360
13.2 Related Research
List Of Table
Table 1: India Buy Now Pay Later – Gross Merchandise Value Trend Analysis (US$ Million), 2019-2028
Table 2: India Buy Now Pay Later – Average Value Per Transaction Trend Analysis (US$), 2019-2028
Table 3: India Buy Now Pay Later – Transaction Volume Trend Analysis (Million), 2019-2028
Table 4: India Buy Now Pay Later – Revenues (Million), 2019-2028
Table 5: India Buy Now Pay Later – Merchant Commission (Million), 2019-2028
Table 6: India Buy Now Pay Later – Missed Payment Fee Revenue (Million), 2019-2028
Table 7: India Buy Now Pay Later Pay Now & Other Income (Million), 2019-2028
Table 8: India Buy Now Pay Later – Consumer Account Count, 2019-2028
Table 9: India Buy Now Pay Later – Bad Debt (Million), 2019-2028
Table 10: India Buy Now Pay Later – Transaction Volume Trend Analysis (Million), 2019-2028
Table 11: India Buy Now Pay Later – Transaction Volume Trend Analysis (Million), 2019-2028
Table 12: India Buy Now Pay Later Retail Shopping – Gross Merchandise Value Trend Analysis (US$ Million), 2019-2028
Table 13: India Buy Now Pay Later Retail Shopping – Average Value Per Transaction Trend Analysis (US$), 2019-2028
Table 14: India Buy Now Pay Later Retail Shopping – Transaction Volume Trend Analysis (Million), 2019-2028
Table 15: India Buy Now Pay Later Home Improvement – Gross Merchandise Value Trend Analysis (US$ Million), 2019-2028
Table 16: India Buy Now Pay Later Home Improvement – Average Value Per Transaction Trend Analysis (US$), 2019-2028
Table 17: India Buy Now Pay Later Retail Shopping Home Improvement – Transaction Volume Trend Analysis (Million), 2019-2028
Table 18: India Buy Now Pay Later Leisure & Entertainment – Gross Merchandise Value Trend Analysis (US$ Million), 2019-2028
Table 19: India Buy Now Pay Later Leisure & Entertainment – Average Value Per Transaction Trend Analysis (US$), 2019-2028
Table 20: India Buy Now Pay Later Leisure & Entertainment – Transaction Volume Trend Analysis (Million), 2019-2028
Table 21: India Buy Now Pay Later Healthcare and Wellness – Gross Merchandise Value Trend Analysis (US$ Million), 2019-2028
Table 22: India Buy Now Pay Later Healthcare and Wellness – Average Value Per Transaction Trend Analysis (US$), 2019-2028
Table 23: India Buy Now Pay Later Healthcare and Wellness – Transaction Volume Trend Analysis (Million), 2019-2028
Table 24: India Buy Now Pay Later Other Segment – Gross Merchandise Value Trend Analysis (US$ Million), 2019-2028
Table 25: India Buy Now Pay Later Other Segment – Average Value Per Transaction Trend Analysis (US$), 2019-2028
Table 26: India Buy Now Pay Later Other Segment – Transaction Volume Trend Analysis (Million), 2019-2028
List of figures
Figure 1: PayNXT360’s Methodology Framework
Figure 2: India Buy Now Pay Later – GMV and Adoption Rationale
Figure 3: India Buy Now Pay Later – Share by Gender and Age Group
Figure 4: India Buy Now Pay Later – Market Share Analysis by Key Players (%)
Figure 5: India Buy Now Pay Later – Gross Merchandise Value Trend Analysis (US$ Million), 5019-5058
Figure 6: India Buy Now Pay Later – Average Value Per Transaction Trend Analysis (US$), 2019-2028
Figure 7: India Buy Now Pay Later – Transaction Volume Trend Analysis (Million), 2019-2028
Figure 8: India Buy Now Pay Later – Revenues (Million), 2019-2028
Figure 9: Buy Now Pay Later Share by Revenue Segments
Figure 10: India Buy Now Pay Later – Merchant Commission (Million), 2019-20210
Figure 11: India Buy Now Pay Later – Missed Payment Fee Revenue (Million), 20111-20211
Figure 12: India Buy Now Pay Later Pay Now & Other Income (Million), 20112-2028
Figure 13: India Buy Now Pay Later – Consumer Account Count, 2019-2028
Figure 14: India Buy Now Pay Later – Bad Debt (Million), 2019-2028
Figure 15: India Buy Now Pay Later – Transaction Volume Trend Analysis (Million), 2019-2028
Figure 16: India Buy Now Pay Later – Transaction Volume Trend Analysis (Million), 2019-2028
Figure 17: India Buy Now Pay Later – Transaction Volume Trend Analysis (Million), 2019-2028
Figure 18: India Buy Now Pay Later – Market Share by End-Use Sector, 2018 Vs. 2025
Figure 19: India Buy Now Pay Later – Market Share by End-Use Sector, 2018 Vs. 2028
Figure 20: India Buy Now Pay Later – Market Share by End-Use Sector, 2020 Vs. 2025
Figure 21: India Buy Now Pay Later Retail Shopping – Gross Merchandise Value Trend Analysis (US$ Million), 2021-2028
Figure 22: India Buy Now Pay Later Retail Shopping – Average Value Per Transaction Trend Analysis (US$), 2222-2228
Figure 23: India Buy Now Pay Later Retail Shopping – Transaction Volume Trend Analysis (Million), 2319-2328
Figure 24: India Buy Now Pay Later Home Improvement – Gross Merchandise Value Trend Analysis (US$ Million), 2019-2028
Figure 25: India Buy Now Pay Later Home Improvement – Average Value Per Transaction Trend Analysis (US$), 2019-2028
Figure 26: India Buy Now Pay Later Home Improvement – Transaction Volume Trend Analysis (Million), 2019-2028
Figure 27: India Buy Now Pay Later Leisure & Entertainment – Gross Merchandise Value Trend Analysis (US$ Million), 2019-2028
Figure 28: India Buy Now Pay Later Leisure & Entertainment – Average Value Per Transaction Trend Analysis (US$), 2019-2028
Figure 29: India Buy Now Pay Later Leisure & Entertainment – Transaction Volume Trend Analysis (Million), 2019-2028
Figure 30: India Buy Now Pay Later Healthcare and Wellness – Gross Merchandise Value Trend Analysis (US$ Million), 2019-2030
Figure 31: India Buy Now Pay Later Healthcare and Wellness – Average Value Per Transaction Trend Analysis (US$), 2019-2031
Figure 32: India Buy Now Pay Later Healthcare and Wellness – Transaction Volume Trend Analysis (Million), 2019-2028
Figure 33: India Buy Now Pay Later Other Segment – Gross Merchandise Value Trend Analysis (US$ Million), 2019-2028
Figure 34: India Buy Now Pay Later Other Segment – Average Value Per Transaction Trend Analysis (US$), 2019-2028
Figure 35: India Buy Now Pay Later Other Segment – Transaction Volume Trend Analysis (Million), 2019-2028
Figure 36: India Buy Now Pay Later – Share by Age Group in Gross Merchandise Value Terms
Figure 37: India Buy Now Pay Later – Share by Income Group in Value Terms
Figure 38: India Buy Now Pay Later – Share by Gender in Value Terms
Figure 39: Buy Now Pay Later – Adoption Rationale Gross Merchandise Value Analysis
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