![]() ![]() In June 2022, Tamara, one of the leading BNPL platforms based in Saudi Arabia, announced that the firm is set to expand its operations in the United Arab Emirates.Consequently, domestic BNPL firms are considering regional expansion to capitalize on the high growth potential of the Middle Eastern BNPL industry. In 2022, the adoption of deferred payment services is expected to grow significantly, especially in the United Arab Emirates. While Gen Z and millennials have been the early adopters of the BNPL payment method in Saudi Arabia, the trend is expected to accelerate among consumers across different age groups over the next three to four years.ĭomestic BNPL firms are considering regional expansion to drive market share and growth ![]() Following the worldwide pandemic epidemic, markets like Saudi Arabia also have experienced a rapid increase in short-term credit options, such as buy now pay later (BNPL). The global pandemic-induced lockdowns and social distancing measures accelerated the consumer shift to online payment and other digital financial services. ![]() The new value-added service, FlexiAdvance, is projected to further assist SMEs in accelerating their business growth by accessing funding through the Payflex platform.Īs the credit demand among SMEs grows in South Africa in times of global economic uncertainties, the publisher expects more firms to enter into the B2B BNPL segment in South Africa in short to medium-term.
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