Buy Now Pay Later (BNPL) Market Malaysia Report 2023

Buy Now Pay Later (BNPL) Market Malaysia Report 2023

The BNPL market in Malaysia was valued at US$647.3 million million in 2021 and is projected to grow at a CAGR of 18.1% over the forecast period 2021-2023 to reach US$1,052.9 million by 2023. This report provides an analysis of the dynamics of the market, including drivers, restraints, trends, opportunities, and Porter’s Five Forces analysis. It also covers the country’s competitive landscape, market share of major players, and key strategies adopted by them to stay ahead of the competition.

The growing adoption of digital payments coupled with rising disposable incomes has been driving the growth of BNPL services in Malaysia. Companies are launching innovative BNPL products such as cash advances, credit cards with BNPL feature, and mobile wallets to cater to the increasing demand. Moreover, leading e-commerce players such as Lazada and Shopee are offering BNPL services on their platforms in a bid to capitalize on the rising trend.

The government’s initiatives towards digitalization have also been providing a boost to the BNPL market in Malaysia. The government has launched several digital payment initiatives such as the MyDebit Scheme and QR Code Payment System to promote cashless payments. This has enabled people to make payments conveniently, thereby driving the adoption of BNPL services in the country.

Furthermore, the increasing penetration of smartphones coupled with rising internet speeds has been enabling people to access a wide range of digital services. This has enabled players in the market to offer BNPL services through mobile apps, thereby further driving the growth of the market.

The competitive landscape in the Malaysian BNPL market is highly fragmented with several international and local players operating in the segment. Players such as Fave, Airpay, and Boost are among the major players in the market. Companies are focusing on strategic partnerships with major financial institutions to offer innovative BNPL products to customers.

Overall, the increasing adoption of digital payments and rising disposable incomes is expected to drive the growth of the BNPL market in Malaysia during the forecast period from 2021 to 2023.

BNPL White Label Software Providers in Malaysia are:








Research Methodology

This report is based on an extensive study of the Malaysian BNPL market, which was conducted using trusted sources, such as industry publications and reports, government documents, case studies, interviews with market experts, private databases, and in-house analysis by our team of experts. The data points have been verified through primary and secondary research methodologies and validated by market experts to ensure accuracy.

The report is built using a bottom-up approach, which involves estimating the overall market size by calculating various sub-segment sizes. This data is then consolidated and the final figures are arrived at by triangulation methodologies.

The report includes detailed profiles of key players in the Malaysian BNPL market along with their strategies and developments to gain a competitive edge in the market. The report also provides an analysis of Porter’s Five Forces model to understand the degree of competition in the market.

Further, it includes a comprehensive overview of macroeconomic and microeconomic factors impacting the growth of the Malaysian BNPL market. It further takes into account government initiatives that are likely to impact the market in the future.

Finally, it includes a detailed growth strategy dashboard to help players gain an insight into their strategies and make informed decisions for their business.

1 Executive Summary
2 Market Overview
3 Market Dynamics
4 Competitive Landscape
5 BNPL Whitelabel Software Providers in Malaysia
6 Conclusion & Future Outlook