This,\u00a0 coupled with the surging e-commerce market and digital payment ecosystems has buoyed the success of the buy BNPL segment across the UAE. With more consumers shopping online in 2022, compared to 2021, the trend has translated into a higher adoption of BNPL schemes across the country.<\/span><\/p>\nAccording to the publisher estimates, more than 37 per cent of consumers claimed to have used the BNPL payment schemes in the UAE last year. This is a significant increase compared to the 24 per cent a year before.<\/span><\/p>\nNoteworthy, UAE consumers are also resorting to BNPL schemes across a broader set of product categories.<\/span><\/p>\nWith credit card rates rising in the UAE, consumers are flocking in droves towards the zero-interest BNPL schemes offered by fintech firms like Tabby and Tamara in the country.<\/span><\/p>\nAmid the rapid adoption, the BNPL schemes are exploring new paths to broaden their product scope. These innovations will keep bolstering the industry growth and the adoption among consumers from the short to medium-term perspective.<\/span><\/p>\nIn addition, domestic BNPL firms are expanding their regional operations to accelerate growth rate in response to<\/span>\u00a0<\/span><\/em>enthusiastic demand.<\/span><\/p>\nAmid rising competition in the domestic market, UAE-based BNPL providers are now targeting growth in other regional countries to drive the next growth phase of their deferred payment service.<\/span><\/p>\n <\/p>\n","protected":false},"excerpt":{"rendered":"
The BNPL market in the UAE is going to increase by 22 per cent on an annual basis to reach $2,531.1 million this year, according to Research & Market report\u00a0<\/p>\n","protected":false},"author":40,"featured_media":18262,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[154,1],"tags":[2791,3966,4758],"_links":{"self":[{"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/posts\/21488"}],"collection":[{"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/comments?post=21488"}],"version-history":[{"count":2,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/posts\/21488\/revisions"}],"predecessor-version":[{"id":21490,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/posts\/21488\/revisions\/21490"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/media\/18262"}],"wp:attachment":[{"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/media?parent=21488"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/categories?post=21488"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/tags?post=21488"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}