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United Kingdom Buy Now Pay Later Business and Investment Opportunities

United Kingdom Buy Now Pay Later Business and Investment Opportunities

According to PayNXT360’s Q4 2021 BNPL Survey, BNPL payment in the United Kingdom is expected to grow by 50.5% on annual basis to reach US$ 29906.2 million in 2022. Medium to long term growth story of...

United Kingdom 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 the United Kingdom is expected to grow by 50.5% on annual basis to reach US$ 29906.2 million in 2022.

Medium to long term growth story of BNPL industry in the United Kingdom remains strong. The BNPL payment adoption is expected to grow steadily over the forecast period, recording a CAGR of 24.5% during 2022-2028. The BNPL Gross Merchandise Value in the country will increase from US$ 19866.2 million in 2021 to reach US$ 111545.3 million by 2028.

In the United Kingdom, the buy now, pay later (BNPL) payment method has increased substantially since the onset of the pandemic. Besides pureplay BNPL providers such as Klarna and Afterpay, leading retailers and banks were also introduced BNPL products to expand their market share. For instance, in December 2021, Amazon joined forces with Barclays to introduce ‘Installments’, a BNPL service in the United Kingdom. 

The popularity of the BNPL payment method is also getting support from a large number of fashion brands and retailers who are now offering the payment method both online as well as for in-store purchases. Despite the growing scrutiny around BNPL, PayNXT360 expects the trend to continue from the short to medium-term perspective, which will further support the growth of the deferred payment industry in the country. 

Traditional banks are forging a strategic partnership with online retailers to launch BNPL products in the United Kingdom

To push into the booming BNPL market of the United Kingdom, traditional banking firms are forging strategic alliances with online retailers in the country. For instance, 

• In December 2021, Barclays announced that the firm had entered into a strategic collaboration with Amazon to launch a new BNPL product for online shoppers in the country. The BNPL service, known as Instalments, will allow Amazon shoppers the option to spread the cost of their purchases over multiple installments.
• The launch of the product came at a time when more than 15 million consumers across the country had the split payment service. Notably, Barclays and Amazon also partnered to launch a similar BNPL product for consumers in Germany. 

As the payment method continues to gain more ground among young shoppers in the country, PayNXT360 expects more traditional banking firms to build strategic alliances with online and offline retailers in the country over the next four to eight quarters.

Fintech startups are entering the BNPL market with niche product offerings

The exponential growth of the BNPL firms has been one of the biggest fintech trends over the last four to eight quarters. With the sector expected to continue its robust growth, new fintech players are jumping on the BNPL bandwagon in the United Kingdom. For instance, 

• In December 2021, PollenPay, the British BNPL startup, announced the launch of its deferred payment services for consumers in the country. Unlike other existing BNPL firms, PollenPay offers consumers a responsible approach to BNPL transactions. It allows consumers to amend payment schedules if they fall into financial hardship. According to PollenPay, the new BNPL scheme has gained interest from various retailers across the country. 

As the popularity of the BNPL schemes continues to grow among consumers and merchants across the country, PayNXT360 expects more new players to enter the BNPL market in the United Kingdom over the next four to eight quarters. 

BNPL firms are moving into the digital gift card segment to capitalize on the rising demand in the United Kingdom

The digital gift card segment is another fast-growing vertical globally. As the demand for gift cards continues to rise quarter-on-quarter, BNPL firms are looking to capitalize on the opportunity to further accelerate their growth in the United Kingdom. For instance, 

• In December 2021, Zilch, the United Kingdom-based BNPL provider, announced the launch of its gift card program for consumers. Notably, the firm will allow its 1.4 million users to shop for multi-use digital gift cards directly from the BNPL platform. With the global gift card sales expected to grow nearly 8.3% year-over-year, the launch of gift cards will allow the firm to further boost its growth over the next four to eight quarters. 
• The gift cards by Zilch can be bought, sent, and spent entirely online. Consumers can also add gift cards to their Apple Wallet. Moreover, with the firm expected to roll out its BNPL services in the United States in 2022, the gift card solution will allow Zilch to gain more market share in the world’s largest retail market for gift cards. 
Scope
This report provides in-depth, data-centric analysis of Buy Now Pay Later industry in United Kingdom. Below is a summary of key market segments:
United Kingdom BNPL Market Size and Spending Pattern
•	Gross Merchandise Value Trend Analysis 
•	Average Value Per Transaction Trend Analysis 
•	Transaction Volume Trend Analysis 
United Kingdom 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
United Kingdom Buy Now Pay Later Market Share Analysis by Key Players
United Kingdom Buy Now Pay Later Spend Analysis by Channel: Market Size and Forecast
•	Online Channel
•	POS Channel
United Kingdom 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 
United Kingdom 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
United Kingdom 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
United Kingdom 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
United Kingdom 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
United Kingdom 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. United Kingdom 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. United Kingdom Buy Now Pay Later Industry Attractiveness
3.1 United Kingdom Buy Now Pay Later – Gross Merchandise Value Trend Analysis, 2019-2028
3.2 United Kingdom Buy Now Pay Later – Average Value Per Transaction Trend Analysis, 2019-2028
3.3 United Kingdom Buy Now Pay Later – Transaction Volume Trend Analysis, 2019-2028

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

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

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

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

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

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