In the UAE, the global pandemic has resulted in a shift in consumer spending habits and accelerated adoption of online shopping platforms. On the other hand, consumers too are increasingly being drawn to digital payments due surging adoption of contactless payments post COVID-19 which is also contributing in the growth of BNPL market by increasing their userbase. These payments are assisted by advanced technology and are, therefore, quick, simple and convenient. Moreover, the adoption from merchants is also on the rise as more and more consumers are demanding the BNPL payment method for both in-store as well as online purchases. Several startups and global BNPL players are offering their innovative products and deferred payment services for consumers in the UAE. The primary factors driving the market growth is the emergence of instant payment anytime and anywhere, rising internet penetration in the country, growing awareness among the users, controlled, secured and efficient transactions with convenience of use and a highly rewarding experience provided by the market players to their users. UAE BNPL market expanded with substantial growth in between 20 with massive expansion in the adoption of BNPL as the mode of payment due to rising industry valuation, trend of contactless payments and the emergence of BNPL lending startups going beyond the typical BNPL card issuance model. 17, 2023 (GLOBE NEWSWIRE) - The "UAE Buy Now Pay Later Industry Outlook to 2027" report has been added to 's offering.
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