Australia Buy Now Pay Later Business and Investment Opportunities

  The sale of physical gift cards decreased considerably during the global pandemic-induced lockdown. However, at the same time, the sale of digital gift cards increased by more than 50%. The reason behind the increasing sales of digital gift cards and declining sales of physical gift cards were apparent. With stores closed for months and no physical movement allowed, consumers increasingly shifted online to purchase gift cards. However, According to PayNXT360’s recent survey, it has been observed that retailers are beginning to experience a significant rise in the sales of physical gift cards. This is primarily due to the impact of the global pandemic starts to diminish and stores opening up for business again. Moreover, consumer sentiment towards visiting retail stores is gradually improving along with an increasing number of fully vaccinated individuals.   According to PayNXT360, gift card buying from physical retail stores started recovering since Q2 2021. According to the...

As cryptocurrencies continue to get mainstream acceptance globally, the services around them are also building up fast. In February 2021, buy now pay later (BNPL) giant Klarna made its first foray into cryptocurrencies by entering into a strategic partnership with Sweden-based crypto exchange Safello. Notably, Safello is leveraging the open banking services of Klarna, thereby allowing its 180,000 customers to buy cryptocurrencies from their bank accounts. Currently, the global BNPL leader has access to more than 5,000 banks spread across 18 countries across Europe. Moreover, using a single API, the BNPL platform of Klarna complies with pan-EU banking regulations.   Klarna and Safello partnership: Rise of open banking services in the EU   The European Union Commission announced its Second Payment Services Directive (PSD2) in 2018. The new directive provided the much-needed fuel to the adoption and implementation of open banking services, which have been going through unexpected...

  In Nigeria, traditional banking players are competing to outdo each other in winning not only adults but also children. In the past, teens were not considered eligible to have a banking account. However, to boost financial inclusion at an early age, banks can now offer parents to operate the accounts for their children. Therefore, the trend is helping parents to teach kids to save money at an early age. Several banks target teens with unique interest rates, gifts, and innovative prepaid card products in Nigeria. For instance, First Bank, the premier banking institution in the country, has two different packages for teens known as KidsFirst and MeFirst. Moreover, the bank provides kids with a trendy gift when the account is opened with a minimum of N10,000. The account is automatically converted into a MeFirst account when the kid turns 13. The bank offers kids a desirable and trendy prepaid card, through which parents can credit weekly and monthly allowances.Polaris Bank and Guar...

  Gift card market in 2020 was driven a wide range of factors, which supported growth across retail and corporate segments. The primary factors included growth of ecommerce, increased adoption to incentivize employees working remotely, digital gifting, and initiatives undertaken by government, hospitality, and travel industries to revive growth. Though the gift card market was impacted due to COVID-19, the market is expected to bounce back in the coming quarters, especially in H1 2021. Gift card industry in Vietnam has done well to withstand the impact of economic slowdown along with negative business and consumer sentiment due to disruption caused by Covid-19 outbreak. Historically, the gift card market in Vietnam has recorded a steady growth with a CAGR of 19.4% during 2016-2020. According to PayNXT360’s Q4 2020 Global Gift Card Survey, gift card industry in the country is expected to grow by 20.9% on annual basis to reach US$ 479.1 million in 2021. Despite near-term challenges i...

BNPL payment industry in Greece has recorded strong growth over the last four quarters, supported by increased ecommerce penetration along with impact of economic slowdown due to disruption caused by Covid-19 outbreak. According to  PayNXT360 ’s Q2 2021 BNPL Survey, BNPL payment in the country is expected to grow by 138.1% on annual basis to reach US$ 237.8 million in 2021. Medium to long term growth story of BNPL industry in Greece remains strong. The BNPL payment adoption is expected to grow steadily over the forecast period, recording a CAGR of 46.7% during 2021-2028. The BNPL Gross Merchandise Value in the country will increase from US$ 99.8 million in 2020 to reach US$ 3483.7 million by 2028. Scope This report provides in-depth, data-centric analysis of Buy Now Pay Later industry in Greece. Below is a summary of key market segments: Greece BNPL Market Size and Spending Pattern • Gross Merchandise Value Trend Analysis • Average Value Per Transaction Trend Analysis • Transaction...

  Sweden’s GDP expanded by 4.3% in Q3’20 after a slump in Q2’20 due to coronavirus outbreak. However, for full year 2020, the economy is expected to shrink impacting consumer confidence. The economy is likely to recover in 2021 which would have a positive impact on consumer spending and consequently the gift card market. Though growth of gift card market has been impacted in 2020 due to the COVID crisis, the market is set to grow as retail and corporate customer increase spending on gift cards over the forecast period. Due to COVID-19, there has been shift in demand from brick and mortar retail to e-commerce. The growth in e-commerce will be owing to digitally savvy shoppers which will have a positive impact on the gift card industry in the coming years.  Moreover, in October 2020, Amazon extended its presence in Sweden with its new e-commerce site Amazon.se, which could further enhance the e-commerce market in the country. The growing demand from the millennials and Gen Z pop...