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Report Overview

2023

Base Year

2018-2023

Historical Year

2024-2032

Forecast Year

Australia Buy Now Pay Later Services Market Outlook

The Australia buy now pay later services market size reached USD 662.84 million in 2023. The market is expected to grow at a CAGR of 10.65% between 2024 and 2032, reaching USD 1,658.60 million by 2032.

Key Takeaways:

  • Over 40% of shoppers aged 18 to 39 utilized the instalment payment option while transacting online.
  • Australia originated several popular BNPL firms like Afterpay and Sezzle, with recent regulatory efforts treating the service as a credit product.
  • In February 2024, Australia provided credit card instalment choices and 'buy now, pay later' cards through major issuers and banks.

Online platforms drive the Australia buy now pay later services market growth, as they allow customers to access BNPL options seamlessly during checkout for a smoother payment process

Customers' easy access to BNPL options online improves their experience, with real-time approval for swift transactions. Global availability broadens market reach, while online data insights inform targeted strategies. Streamlined processes and flexibility drive adoption, fuelling market growth.

In May 2023, the Australian government introduced laws treating BNPL services as credit products, safeguarding consumers. These services, offering interest-free short-term loans, were often utilized by financially constrained individuals, sometimes exceeding their means.

Seamless integration and enhanced customer experience through POS applications bolstered sales, providing quick approval and flexible options. Valuable insights, improved cash flow, competitive advantage, risk management, and enhanced accessibility contributed to the growth of the Australia buy now pay later services market.

Australia Buy Now Pay Later Services Market

Market Segmentation

Australia Buy Now Pay Later Services Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:

Market Breakup by Channel

  • Online 
  • Point of Sale (POS)

Market Breakup by Enterprise Size

  • Large Enterprise
  • Medium Enterprise
  • Small Enterprise

Market Breakup by End Use

  • Consumer electronics
  • Fashion & Personal Care
  • Healthcare
  • Leisure & Entertainment
  • Retail
  • Others

Market Breakup by Region

  • New South Wales
  • Victoria
  • Queensland
  • Australia Capital Territory
  • Western Australia
  • Others

The Australia buy now pay later services market key players are Zip Co Limited, Afterpay Australia Pty Ltd., Klarna Australia Pty Ltd., humm BNPL Pty Ltd., PayPal Credit Pty Limited, National Australia Bank Limited and Commonwealth Bank of Australia among others.

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Channel
  • Enterprise Size
  • End Use
  • Region
Breakup by Channel
  • Online 
  • Point of Sale (POS)
Breakup by Enterprise Size
  • Large Enterprise
  • Medium Enterprise
  • Small Enterprise
Breakup by End Use
  • Consumer electronics
  • Fashion & Personal Care
  • Healthcare
  • Leisure & Entertainment
  • Retail
  • Others
Breakup by Region
  • New South Wales
  • Victoria
  • Queensland
  • Australian Capital Territory
  • Western Australia
  • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Zip Co Limited
  • Afterpay Australia Pty Ltd.
  • Klarna Australia Pty Ltd.
  • humm BNPL Pty Ltd.
  • PayPal Credit Pty Limited
  • National Australia Bank Limited
  • Commonwealth Bank of Australia
  • Others

*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*

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Key Questions Answered in the Report

The market was valued at USD 662.84 million in 2023.

The market is projected to grow at a CAGR of 10.65% between 2024 and 2032.

The revenue generated from the buy now pay later services market is expected to reach USD 1658.60 million in 2032.

The buy now pay later services market is categorised according to enterprise size, which includes large enterprises, medium enterprises, and small enterprises.

The buy now pay later services market key players are Zip Co Limited, Afterpay Australia Pty Ltd., Klarna Australia Pty Ltd., humm BNPL Pty Ltd., PayPal Credit Pty Limited, National Australia Bank Limited and Commonwealth Bank of Australia among others.

Based on the platform, the market is divided into online and point of sale.

The market is broken down into New South Wales, Victoria, Queensland, Australian Capital Territory, Western Australia, and others.

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30 North Gould Street, Sheridan, WY 82801

+1-415-325-5166

63 Fiona Drive, Tamworth, NSW

+61-448-061-727

C130 Sector 2 Noida, Uttar Pradesh 201301

+91-858-608-1494

40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.

+63-287-899-028, +63-967-048-3306

6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London

+44-753-713-2163

193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City

+84-865-399-124