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Indonesia Buy Now Pay Later Business and Investment Opportunities

Indonesia Buy Now Pay Later Business and Investment Opportunities

According to PayNXT360’s Q4 2021 BNPL Survey, BNPL payment in Indonesia is expected to grow by 94.7% on annual basis to reach US$ 2669.3 million in 2022. Medium to long term growth story of BNPL indu...

Indonesia 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
Summary
According to PayNXT360’s Q4 2021 BNPL Survey, BNPL payment in Indonesia is expected to grow by 94.7% on annual basis to reach US$ 2669.3 million in 2022.

Medium to long term growth story of BNPL industry in Indonesia remains strong. The BNPL payment adoption is expected to grow steadily over the forecast period, recording a CAGR of 44.4% during 2022-2028. The BNPL Gross Merchandise Value in the country will increase from US$ 1370.7 million in 2021 to reach US$ 24247.2 million by 2028.

Over the last four to eight quarters, buy now, pay later (BNPL) has become one of the most popular payment methods among consumers in Indonesia. While the global pandemic has accelerated the adoption of BNPL products among consumers, PayNXT360 expects the industry to continue its robust growth over the next four to eight quarters. With the high growth potential offered by the Indonesian BNPL market, PayNXT360 expects BNPL providers to raise funds quite aggressively to further expand their growth.

B2B invoicing firms are launching BNPL solutions for small businesses in Indonesia

The global pandemic has affected businesses across industry verticals, especially small and medium-sized enterprises, leading to cash flow issues in Indonesia. Consequently, resulting in growing demand from SMEs for innovative solutions such as BNPL. As a result of this growing demand, firms are launching new B2B BNPL product which offers SMEs simple and convenient financing options. For instance, 

• In October 2021, Paper.id, the Indonesian B2B invoicing firm, announced that it is launching a new B2B BNPL product for small businesses to help them recover from the global pandemic-related losses. 
• Currently, SME buyers in the country have only two options to pay for their business-related purchases, bank transfer, and cash. The launch of a B2B BNPL product is, therefore, expected to provide SMEs with a more flexible and convenient payment option. 

PayNXT360 expects more B2B BNPL product launches in Indonesia over the next four to eight quarters, as the demand for such a solution is expected to only increase from the short to medium-term perspective. 

Digital banks are introducing BNPL products to expand target market in Indonesia

The Indonesian BNPL space is becoming more and more crowded as the demand for such a solution is expected to increase over the next four to eight quarters. Notably, even digital banking players are launching their own BNPL products in Indonesia. For instance, 

• In December 2021, TMRW, the digital banking arm of United Overseas Bank (UOB), announced the launch of TMRW Pay, a BNPL product for e-commerce shopping in Indonesia. According to UOB, over half of the transactions on TMRW credit cards were for e-commerce purchases from January 2021 to October 2021. 
• As e-commerce shopping continues to grow in the country, consumers are looking for innovative payment methods such as BNPL to finance their purchases. Consequently, TMRW launched the BNPL product to support this growing demand from consumers in the country. 

BNPL firms are launching physical pay later cards for consumers in Indonesia 

While the usage of BNPL products has surged for completing online purchases, firms are also looking to boost their market share in the offline segment. As a result, BNPL firms are launching physical pay later cards, allowing consumers to pay at physical outlets in the country. For instance, 

• In December 2021, Kredivo announced that the firm had entered into a strategic partnership with Bank Sahabat Sampoerna. Under the strategic alliance, Kredivo is launching Flexi Card, a new pay later payment card, which allows consumers to split their purchases in installments when shopping in-store. 
Scope
This report provides in-depth, data-centric analysis of Buy Now Pay Later industry in Indonesia. Below is a summary of key market segments:
Indonesia BNPL Market Size and Spending Pattern
•	Gross Merchandise Value Trend Analysis 
•	Average Value Per Transaction Trend Analysis 
•	Transaction Volume Trend Analysis 
Indonesia 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
Indonesia Buy Now Pay Later Market Share Analysis by Key Players
Indonesia Buy Now Pay Later Spend Analysis by Channel: Market Size and Forecast
•	Online Channel
•	POS Channel
Indonesia 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 
Indonesia 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
Indonesia 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
Indonesia 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
Indonesia 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
Indonesia 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
• 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. Indonesia 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. Indonesia Buy Now Pay Later Industry Attractiveness
3.1 Indonesia Buy Now Pay Later – Gross Merchandise Value Trend Analysis, 2019-2028
3.2 Indonesia Buy Now Pay Later – Average Value Per Transaction Trend Analysis, 2019-2028
3.3 Indonesia Buy Now Pay Later – Transaction Volume Trend Analysis, 2019-2028

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

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

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

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

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

12. Indonesia 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 PayNXT360
13.2 Related Research
List Of Table
Table 1: Indonesia Buy Now Pay Later – Gross Merchandise Value Trend Analysis (US$ Million), 2019-2028
Table 2: Indonesia Buy Now Pay Later – Average Value Per Transaction Trend Analysis (US$), 2019-2028
Table 3: Indonesia Buy Now Pay Later – Transaction Volume Trend Analysis (Thousand), 2019-2028
Table 4: Indonesia Buy Now Pay Later – Revenues (US$ Million), 2019-2028
Table 5: Indonesia Buy Now Pay Later – Merchant Commission (US$ Million), 2019-2028
Table 6: Indonesia Buy Now Pay Later – Missed Payment Fee Revenue (US$ Million), 2019-2028
Table 7: Indonesia Buy Now Pay Later Pay Now & Other Income (US$ Million), 2019-2028
Table 8: Indonesia Buy Now Pay Later – Accounts (Thousand), 2019-2028
Table 9: Indonesia Buy Now Pay Later – Bad Debt (US$ Million), 2019-2028
Table 10: Indonesia Buy Now Pay Later – Gross Merchandise Value by Online Channel (US$ Million), 2019-2028
Table 11: Indonesia Buy Now Pay Later – Gross Merchandise Value by POS Channel (US$ Million), 2019-2028
Table 12: Indonesia Buy Now Pay Later Retail Shopping – Gross Merchandise Value Trend Analysis (US$ Million), 2019-2028
Table 13: Indonesia Buy Now Pay Later Retail Shopping – Average Value Per Transaction Trend Analysis (US$), 2019-2028
Table 14: Indonesia Buy Now Pay Later Retail Shopping – Transaction Volume Trend Analysis (Thousand), 2019-2028
Table 15: Indonesia Buy Now Pay Later Home Improvement – Gross Merchandise Value Trend Analysis (US$ Million), 2019-2028
Table 16: Indonesia Buy Now Pay Later Home Improvement – Average Value Per Transaction Trend Analysis (US$), 2019-2028
Table 17: Indonesia Buy Now Pay Later Retail Shopping Home Improvement – Transaction Volume Trend Analysis (Thousand), 2019-2028
Table 18: Indonesia Buy Now Pay Later Leisure & Entertainment – Gross Merchandise Value Trend Analysis (US$ Million), 2019-2028
Table 19: Indonesia Buy Now Pay Later Leisure & Entertainment – Average Value Per Transaction Trend Analysis (US$), 2019-2028
Table 20: Indonesia Buy Now Pay Later Leisure & Entertainment – Transaction Volume Trend Analysis (Thousand), 2019-2028
Table 21: Indonesia Buy Now Pay Later Healthcare and Wellness – Gross Merchandise Value Trend Analysis (US$ Million), 2019-2028
Table 22: Indonesia Buy Now Pay Later Healthcare and Wellness – Average Value Per Transaction Trend Analysis (US$), 2019-2028
Table 23: Indonesia Buy Now Pay Later Healthcare and Wellness – Transaction Volume Trend Analysis (Thousand), 2019-2028
Table 24: Indonesia Buy Now Pay Later Other Segment – Gross Merchandise Value Trend Analysis (US$ Million), 2019-2028
Table 25: Indonesia Buy Now Pay Later Other Segment – Average Value Per Transaction Trend Analysis (US$), 2019-2028
Table 26: Indonesia Buy Now Pay Later Other Segment – Transaction Volume Trend Analysis (Thousand), 2019-2028
List of figures
Figure 1: PayNXT360’s Methodology Framework
Figure 2: Indonesia Buy Now Pay Later – GMV and Adoption Rationale
Figure 3: Indonesia Buy Now Pay Later – Share by Gender and Age Group
Figure 4: Indonesia Buy Now Pay Later – Market Share Analysis by Key Players (%)
Figure 5: Indonesia Buy Now Pay Later – Gross Merchandise Value Trend Analysis (US$ Million), 2019-2028
Figure 6: Indonesia Buy Now Pay Later – Average Value Per Transaction Trend Analysis (US$), 2019-2028
Figure 7: Indonesia Buy Now Pay Later – Transaction Volume Trend Analysis (Thousand), 2019-2028
Figure 8: Indonesia Buy Now Pay Later – Revenues (US$ Million), 2019-2028
Figure 9: Buy Now Pay Later Share by Revenue Segments
Figure 10: Indonesia Buy Now Pay Later – Merchant Commission (US$ Million), 2019-2028
Figure 11: Indonesia Buy Now Pay Later – Missed Payment Fee Revenue (US$ Million), 2019-2028
Figure 12: Indonesia Buy Now Pay Later Pay Now & Other Income (US$ Million), 2019-2028
Figure 13: Indonesia Buy Now Pay Later – Accounts (Thousand), 2019-2028
Figure 14: Indonesia Buy Now Pay Later – Bad Debt (US$ Million), 2019-2028
Figure 15: Indonesia Buy Now Pay Later – Gross Merchandise Value Market Share by Channel (%), 2019-2028
Figure 16: Indonesia Buy Now Pay Later – Gross Merchandise Value by Online Channel (US$ Million), 2019-2028
Figure 17: Indonesia Buy Now Pay Later – Gross Merchandise Value by POS Channel (US$ Million), 2019-2028
Figure 18: Indonesia Buy Now Pay Later – Market Share by End-Use Sector, 2021 Vs. 2028
Figure 19: Indonesia Buy Now Pay Later – Market Share by End-Use Segment, 2021
Figure 20: Indonesia Buy Now Pay Later – Market Share by Retail Product Category, 2021
Figure 21: Indonesia Buy Now Pay Later Retail Shopping – Gross Merchandise Value Trend Analysis (US$ Million), 2019-2028
Figure 22: Indonesia Buy Now Pay Later Retail Shopping – Average Value Per Transaction Trend Analysis (US$), 2019-2028
Figure 23: Indonesia Buy Now Pay Later Retail Shopping – Transaction Volume Trend Analysis (Thousand), 2019-2028
Figure 24: Indonesia Buy Now Pay Later Home Improvement – Gross Merchandise Value Trend Analysis (US$ Million), 2019-2028
Figure 25: Indonesia Buy Now Pay Later Home Improvement – Average Value Per Transaction Trend Analysis (US$), 2019-2028
Figure 26: Indonesia Buy Now Pay Later Home Improvement – Transaction Volume Trend Analysis (Thousand), 2019-2028
Figure 27: Indonesia Buy Now Pay Later Leisure & Entertainment – Gross Merchandise Value Trend Analysis (US$ Million), 2019-2028
Figure 28: Indonesia Buy Now Pay Later Leisure & Entertainment – Average Value Per Transaction Trend Analysis (US$), 2019-2028
Figure 29: Indonesia Buy Now Pay Later Leisure & Entertainment – Transaction Volume Trend Analysis (Thousand), 2019-2028
Figure 30: Indonesia Buy Now Pay Later Healthcare and Wellness – Gross Merchandise Value Trend Analysis (US$ Million), 2019-2028
Figure 31: Indonesia Buy Now Pay Later Healthcare and Wellness – Average Value Per Transaction Trend Analysis (US$), 2019-2028
Figure 32: Indonesia Buy Now Pay Later Healthcare and Wellness – Transaction Volume Trend Analysis (Thousand), 2019-2028
Figure 33: Indonesia Buy Now Pay Later Other Segment – Gross Merchandise Value Trend Analysis (US$ Million), 2019-2028
Figure 34: Indonesia Buy Now Pay Later Other Segment – Average Value Per Transaction Trend Analysis (US$), 2019-2028
Figure 35: Indonesia Buy Now Pay Later Other Segment – Transaction Volume Trend Analysis (Thousand), 2019-2028
Figure 36: Indonesia Buy Now Pay Later – Share by Age Group in Gross Merchandise Value Terms
Figure 37: Indonesia Buy Now Pay Later – Share by Income Group in Value Terms
Figure 38: Indonesia 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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