Vietnam Buy Now Pay Later Business Intelligence Report 2024: BNPL GMV will Increase from $2.34 Billion in 2023 to Reach $11.27 Billion by 2029
Dublin, April 11, 2024 (GLOBE NEWSWIRE) -- 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 Vietnam are expected to grow by 41.8% on an annual basis to reach US$3.33 billion in 2024.
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. 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.
*Scope*
*Vietnam BNPL Market Size and Spending Pattern, 2020-2029*
· Gross Merchandise Value Trend Analysis
· Average Value Per Transaction Trend Analysis
· Transaction Volume Trend Analysis
*Vietnam Buy Now Pay Later Revenue Analysis, 2020-2029*
· Buy Now Pay Later Revenues
· Buy Now Pay Later Share by Revenue Segments
· Buy Now Pay Later Revenue by Merchant Commission
· Buy Now Pay Later Revenue by Missed Payment Fee Revenue
· Buy 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 Base
· Buy Now Pay Later Bad Debt
*Vietnam BNPL by Purpose, 2020-2029*
· Convenience - Short Term Loans
· Credit - 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 System
· Closed Loop System
*Vietnam BNPL by Distribution Model Analysis, 2020-2029*
· Standalone
· Banks & Payment Service Providers
· Marketplaces
*Vietnam Buy Now Pay Later Market Share Analysis by Key Players*
*Vietnam BNPL Analysis by Channel, 2020-2029*
· Online Channel
· POS Channel
*Vietnam Buy Now Pay Later in Retail Shopping: Market Size and Forecast, 2020-2029*
· Gross Merchandise Value Trend Analysis
· Average Value Per Transaction Trend Analysis
· Transaction Volume Trend Analysis
*Vietnam Buy Now Pay Later in Home Improvement: Market Size and Forecast, 2020-2029*
· Gross Merchandise Value Trend Analysis
· Average Value Per Transaction Trend Analysis
· Transaction Volume Trend Analysis
*Vietnam Buy Now Pay Later in Travel: Market Size and Forecast, 2020-2029*
· Gross Merchandise Value Trend Analysis
· Average Value per Transaction Trend Analysis
· Transaction Volume Trend Analysis
*Vietnam Buy Now Pay Later in Media and Entertainment: Market Size and Forecast, 2020-2029*
· Gross Merchandise Value Trend Analysis
· Average Value per Transaction Trend Analysis
· Transaction Volume Trend Analysis
*Vietnam Buy Now Pay Later in Services: Market Size and Forecast, 2020-2029*
· Gross Merchandise Value Trend Analysis
· Average Value Per Transaction Trend Analysis
· Transaction Volume Trend Analysis
*Vietnam Buy Now Pay Later in Automotive: Market Size and Forecast, 2020-2029*
· Gross Merchandise Value Trend Analysis
· Average Value Per Transaction Trend Analysis
· Transaction Volume Trend Analysis
*Vietnam Buy Now Pay Later in Healthcare and Wellness: Market Size and Forecast, 2020-2029*
· Gross Merchandise Value Trend Analysis
· Average Value Per Transaction Trend Analysis
· Transaction Volume Trend Analysis
*Vietnam Buy Now Pay Later in Others: Market Size and Forecast*
· Gross Merchandise Value Trend Analysis
· Average Value Per Transaction Trend Analysis
· Transaction Volume Trend Analysis
*Vietnam Buy Now Pay Later Analysis by Consumer Attitude and Behaviour*
· Sales Uplift by Product Category
· Share by Age Group
· Share by Income
· Share by Gender
· Adoption Rationale
· Average Monthly Expense segments
*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:*
*Report Attribute* *Details*
No. of Pages 88
Forecast Period 2024 - 2029
Estimated Market Value (USD) in 2024 $3.3 Billion
Forecasted Market Value (USD) by 2029 $11.3 Billion
Compound Annual Growth Rate 27.6%
Regions Covered Vietnam
*Key Topics Covered:*
*1 About this Report*
1.1 Summary
1.2 Methodology
1.3 BNPL Definitions
1.4 Disclaimer
*2 Vietnam Buy Now Pay Later Industry Attractiveness*
2.1 Vietnam Buy Now Pay Later - Gross Merchandise Value Trend Analysis, 2020-2029
2.2 Vietnam Buy Now Pay Later - Average Value Per Transaction Trend Analysis, 2020-2029
2.3 Vietnam Buy Now Pay Later - Transaction Volume Trend Analysis, 2020-2029
2.4 Vietnam Buy Now Pay Later Market Share Analysis by Key Players
*3 Vietnam Buy Now Pay Later Operational KPIs*
3.1 Buy Now Pay Later Revenues, 2020-2029
3.2 Buy Now Pay Later Share by Revenue Segments, 2020-2029
3.2.1 Buy Now Pay Later Revenue by Merchant Commission, 2020-2029
3.2.2 Buy Now Pay Later Revenue by Missed Payment Fee Revenue, 2020-2029
3.2.3 Buy Now Pay Later Revenue by Pay Now & Other Income, 2020-2029
3.3 Buy Now Pay Later Active Consumer Base, 2020-2029
3.4 Buy Now Pay Later Bad Debt, 2020 - 2024 - 2029
*4 Buy Now Pay Later Spend Analysis by Business Model, 2020-2029*
4.1 Buy Now Pay Later Two-Party Business Model, 2020-2029
4.2 Buy Now Pay Later Three-Party Business Model, 2020-2029
*5 Buy Now Pay Later Spend Analysis by Purpose, 2020-2029*
5.1 Buy Now Pay Later Convenience, 2020-2029
5.2 Buy Now Pay Later Credit, 2020-2029
*6 Buy Now Pay Later Spend Analysis by Functional Attribute, 2020-2029*
6.1 Buy Now Pay Later by Open Loop System, 2020-2029
6.2 Buy Now Pay Later by Closed Loop System, 2020-2029
*7 Buy Now Pay Later Spend Analysis by Distribution Model, 2020-2029*
7.1 Buy Now Pay Later by Standalone, 2020-2029
7.2 Buy Now Pay Later by Banks & Payment Service Providers, 2020-2029
7.3 Buy Now Pay Later by Marketplaces, 2020-2029
*8 Vietnam Buy Now Pay Later Spend Analysis by Sales Channel*
8.1 Buy Now Pay Later Market Share by Sales Channel, 2020-2029
8.2 Buy Now Pay Later Online Channel Market Size and Forecast, 2020-2029
8.3 Buy Now Pay Later POS Channel Market Size and Forecast, 2020-2029
*9 Vietnam Buy Now Pay Later Snapshot by End-Use Sector, 2020-2029*
9.1 Buy Now Pay Later Market Share by End-Use Sector, 2023
9.2 Buy Now Pay Later Sales Uplift by End-Use Segment, 2023
*10 Vietnam Buy Now Pay Later in Retail Shopping: Market Size and Forecast, 2020-2029*
10.1 Vietnam Buy Now Pay Later Retail Shopping - Gross Merchandise Value Trend Analysis, 2020-2029
10.2 Vietnam Buy Now Pay Later Retail Shopping - Average Value Per Transaction Trend Analysis, 2020-2029
10.3 Vietnam Buy Now Pay Later Retail Shopping - Transaction Volume Trend Analysis, 2020-2029
*11 Vietnam Buy Now Pay Later Market Size and Forecast by Retail Product Categories*
11.1 Buy Now Pay Later Share by Retail Product Category, 2023
11.2 Vietnam Buy Now Pay Later Retail Shopping - Apparel, Footwear & Accessories - Gross Merchandise Value Trend Analysis, 2020-2029
11.3 Vietnam Buy Now Pay Later Retail Shopping - Consumer Electronics - Gross Merchandise Value Trend Analysis, 2020-2029
11.5 Vietnam Buy Now Pay Later Retail Shopping - Toys, Kids, and Babies - Gross Merchandise Value Trend Analysis, 2020-2029
11.6 Vietnam Buy Now Pay Later Retail Shopping - Jewellery - Gross Merchandise Value Trend Analysis, 2020-2029
11.7 Vietnam Buy Now Pay Later Retail Shopping - Sporting Goods - Gross Merchandise Value Trend Analysis, 2020-2029
11.8 Vietnam Buy Now Pay Later Retail Shopping - Entertainment & Gaming - Gross Merchandise Value Trend Analysis, 2020-2029
11.9 Vietnam Buy Now Pay Later Retail Shopping - Others - Gross Merchandise Value Trend Analysis, 2020-2029
*12 Vietnam Buy Now Pay Later in Home Improvement: Market Size and Forecast, 2020-2029*
12.1 Vietnam Buy Now Pay Later Home Improvement - Gross Merchandise Value Trend Analysis, 2020-2029
12.2 Vietnam Buy Now Pay Later Home Improvement - Average Value Per Transaction Trend Analysis, 2020-2029
12.3 Vietnam Buy Now Pay Later Home Improvement - Transaction Volume Trend Analysis, 2020-2029
*13 Vietnam Buy Now Pay Later in Travel: Market Size and Forecast, 2020-2029*
13.1 Vietnam Buy Now Pay Later Travel - Gross Merchandise Value Trend Analysis, 2020-2029
13.2 Vietnam Buy Now Pay Later Travel - Average Value Per Transaction Trend Analysis, 2020-2029
13.3 Vietnam Buy Now Pay Later Travel - Transaction Volume Trend Analysis, 2020-2029
*14 Vietnam Buy Now Pay Later in Media and Entertainment: Market Size and Forecast, 2020-2029*
14.1 Vietnam Buy Now Pay Later Media and Entertainment - Gross Merchandise Value Trend Analysis, 2020-2029
14.2 Vietnam Buy Now Pay Later Media and Entertainment - Average Value Per Transaction Trend Analysis, 2020-2029
14.3 Vietnam Buy Now Pay Later Media and Entertainment - Transaction Volume Trend Analysis, 2020-2029
*15 Vietnam Buy Now Pay Later in Service: Market Size and Forecast, 2020-2029*
15.1 Vietnam Buy Now Pay Later Service - Gross Merchandise Value Trend Analysis, 2020-2029
15.2 Vietnam Buy Now Pay Later Service - Average Value Per Transaction Trend Analysis, 2020-2029
15.3 Vietnam Buy Now Pay Later Service - Transaction Volume Trend Analysis, 2020-2029
*16 Vietnam Buy Now Pay Later in Automotive: Market Size and Forecast, 2020-2029*
16.1 Vietnam Buy Now Pay Later Automotive - Gross Merchandise Value Trend Analysis, 2020-2029
16.2 Vietnam Buy Now Pay Later Automotive - Average Value Per Transaction Trend Analysis, 2020-2029
16.3 Vietnam Buy Now Pay Later Automotive - Transaction Volume Trend Analysis, 2020-2029
*17 Vietnam Buy Now Pay Later in Healthcare and Wellness: Market Size and Forecast, 2020-2029*
17.1 Vietnam Buy Now Pay Later Healthcare and Wellness - Gross Merchandise Value Trend Analysis, 2020-2029
17.2 Vietnam Buy Now Pay Later Healthcare and Wellness - Average Value Per Transaction Trend Analysis, 2020-2029
17.3 Vietnam Buy Now Pay Later Healthcare and Wellness - Transaction Volume Trend Analysis, 2020-2029
*18 Vietnam Buy Now Pay Later in Others: Market Size and Forecast, 2020-2029*
18.1 Vietnam Buy Now Pay Later Others - Gross Merchandise Value Trend Analysis, 2020-2029
18.2 Vietnam Buy Now Pay Later Others - Average Value Per Transaction Trend Analysis, 2020-2029
18.3 Vietnam Buy Now Pay Later Others - Transaction Volume Trend Analysis, 2020-2029
*19 Vietnam Buy Now Pay Later Analysis by Consumer Attitude and Behaviour, 2020-2029*
19.1 Buy Now Pay Later Spend Share by Age Group, 2023
19.1.1 Vietnam Buy Now Pay Later by Age Group - Gen Z (15-27) - Gross Merchandise Value Trend Analysis, 2020-2029
19.1.2 Vietnam Buy Now Pay Later by Age Group - Millennials (28-44) - Gross Merchandise Value Trend Analysis, 2020-2029
19.1.3 Vietnam Buy Now Pay Later by Age Group - Gen X (45 - 60) - Gross Merchandise Value Trend Analysis, 2020-2029
19.1.4 Vietnam Buy Now Pay Later by Age Group - Baby Boomers (60+) - Gross Merchandise Value Trend Analysis, 2020-2029
19.2 Buy Now Pay Later Spend Share by Default Rate by Age Group, 2023
19.3 Buy Now Pay Later Share by Income, 2023
19.3.1 Vietnam Buy Now Pay Later by Income Level - Tier 1 - Gross Merchandise Value Trend Analysis, 2020-2029
19.3.2 Vietnam Buy Now Pay Later by Income Level - Tier 2 - Gross Merchandise Value Trend Analysis, 2020-2029
19.3.3 Vietnam Buy Now Pay Later by Income Level - Tier 3 - Gross Merchandise Value Trend Analysis, 2020-2029
19.4 Buy Now Pay Later Gross Merchandise Value Share by Gender, 2023
19.5 Buy Now Pay Later Adoption Rationale, 2023
19.6 Vietnam Buy Now Pay Later Market - Spend by Average Monthly Expense Segments, 2023
*20 Further Reading*
20.1 About the Publisher
20.2 Related ResearchFor more information about this report visit https://www.researchandmarkets.com/r/1weq1w
*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.
*Attachment*
· Vietnamese Buy Now Pay Later Market
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