BNPL to account for 7.7% of e-commerce payments in Asia-Pacific by 2028, forecasts GlobalData [Yahoo! Finance]
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Source: Yahoo! Finance
Given its popularity, the BNPL to account for 7.7% of e-commerce payments in Asia-Pacific by 2028 Already popular in countries like Australia and New Zealand, BNPL is gradually gaining traction in other APAC markets as well. GlobalData's E-Commerce Analytics reveals that, BNPL accounted for 4.4% of e-commerce payments in 2023 in the APAC region, which is further expected to rise to 5.4% in 2024. Shivani Gupta, Senior Banking and Payments Analyst at GlobalData, said: “BNPL payment solution is widely popular as an alternative payment option in the region with large number of payments and fintech companies competing for a slice of this market. The increasing demand for this solution is supported by high consumer awareness, rising demand for short-term finance, especially among the millennials, and proliferation of BNPL service providers.” Within the region, Australia and New Zealand have higher adoption rates compared to their peers. The share of BNPL solutions in the total e-comme
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