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India Buy Now Pay Later Market 2026 – Industry Outlook, Share, Trends and Forecast

Growth Drivers of the Buy Now Pay Later Market; Indian Buy Now Pay later market has grown ~14x growth by Gross merchandise value (total value of the loans disbursed to consumers), during FY’19-FY’21. The Average ticket size has shown a ~24x growth in the same period as well.

The contribution of growing markets as merchant partners; E-commerce, and food aggregators provide majority GMV with ~38% of market share in the total GMV of BNPL market in India. Online transactions are prevalent compared to offline PoS transactions, and South zone accounts for majority of the demand for BNPL services.

Majority population age group of India a target segment for BNPL services: 26-35 Years age group is the prime segment of BNPL users, with ~40% of market share of the total Gross Merchandise Value (“GMV”), which is ~16% of the total India population, providing a large target market for BNPL players to capture. 26-35 Years bachelor population in metro cities with recent employment, lack of credit line and frequent E-commerce users in the 18-25 years population in metro cities are the earliest adopters of BNPL services. Thriving E-commerce and convenience offered by BNPL services are primary reasons for users to adopt Pay Later practices.

Competition Scenario among BNPL Players:

The India BNPL market consists of

  • App-based BNPL players, such as Lazypay, Simpl, Zest money, Cashe
  • E-Commerce/Travel Aggregators offering BNPL Services such as Amazon Pay Later (Capital Float), Flipkart Pay Later, and Ola Money Postpaid
  • Card Based BNPL Players such as Postpe, Slice and Dhani Onefreedom Card
  • M-wallet players offering BNPL services such as Freecharge Pay Later, Paytm Postpaid, and Zip pay Later by Mobikwik

Lazypay leads the BNPL market with ~39% of the total Gross Merchandise Value (“GMV”) followed by players such as Capital Float (Amazon Pay Later) and Zest Money.

Comparative Landscape of India Buy Now Pay Later Market

Low penalty for payment delay, app stability, fast customer issue addressing are among major features commended by customers. Even among niche players, adoption has been driven by ease of on-boarding of new customers. E-commerce BNPL players such as Flipkart Pay Later, and Amazon Pay Later (Capital Float) have shown largest surge in their revenues from FY’19 to FY’21

The total funding for BNPL players has been valued at ~1.6 billion dollars as of CY’21 with Postpe, Slice and Capital Float are the most funded BNPL companies

The report titled India Buy Now Pay Later Market Outlook to 2026: Cascading growth driven by one-click payment ease, unmatched expediency among lending solutions and free of cost deferment of payments, coupled with rising adoption by Merchant Partners due to increase in Customer Conversion and Sales Valueby Ken Research suggests that the India Buy Now Pay Later market has seen impressive growth rate in the last two years with a CAGR of ~321.1% by GMV, due to increasing adoption of alternative credit line among younger population of India.

Key Segments Covered in India Buy Now Pay Later Market

  • Indian Buy Now Pay Later Market Size and Segmentation
  • Analysis of BNPL market as a part of Digital Lending Sector In India
  • India Buy Now Pay Later Market Size, By GMV, In INR Crores, FY’19-FY’21
  • Trend Analysis of Average Value per Transaction, In INR, FY’19 to FY’21
  • Segmentation, By Mode of Payment (Online vs Offline)
  • Segmentation, By Lending Channels (such as E-commerce retail, Food aggregators, travel aggregators, etc.)
  • Segmentation, By Geography
  • Demand Side Analysis of the Buy Now Pay Later Market in India
  • Consumer Segmentation of the BNPL Space, By Age Group, FY’21
  • Cross Comparison of Major BNPL Players across major decision making parameters (such as onboarding process, ease of use, brand image, customer ratings, issueas and praise points by customers)
  • Supply Side Analysis of the Buy Now Pay Later Market in India
  • Market Share (By Gross Merchandise Value Loaned to customers, in INR), and Average daily Transactions (In INR), of Major Buy Now Pay Later Players in India, FY’21
  • Revenue Growth Analysis of Major Players in the BNPL Space, By Gross Merchandise Value Loaned to customers, in INR, FY’19-FY’21
  • Investment Analysis of the BNPL Players (Funding Rounds, total investments from FY’16-FY’21, Investors)
  • Comparative Assessment, By:
    • Vintage
    • Office Location
    • Number of Employees
    • Holding Company
    • USP
    • Merchant Partners
    • Lending Partners
  • Case Study of Niche BNPL Players
  • Case Study 1: EPayLater, the leading B2B BNPL Player in India
  • Case Study 2: SaveIN, a BNPL Player dedicated to healthcare
  • Outlook and Projections of the BNPL Market in India, FY’22 – FY’26
  • Future of Lending Channels of BNPL Space in India
  • Expected Changes in Regulations as proposed by RBI
  • Market Size of ‘Buy Now Pay Later Market in India and Projected Ticket Size, by GMV (INR), FY’22-FY’26

Key Target Audience

  • Scheduled Commercial Banks
  • Non-Banking Financing Companies
  • Buy Now Pay Later Companies
  • E-Commerce Platforms
  • Payment Gateway Companies
  • Online Food Aggregator Companies
  • Online Cab/bus/ flight booking platforms
  • Online Streaming Services
  • Healthcare Chains

Time Period Captured in the Report:

  • Historical Period: FY’16-FY’21
  • Forecast Period: FY’22-FY’26

Major Buy Now Pay Later Companies in India:

  • App-based BNPL Players
    • Lazypay
    • Simpl
    • Zest Money
    • Kreditbee
    • Cashe
    • ePayLater
  • Platform based (e-commerce, online travel aggregators)
    • Capital Float (Amazon Pay Later service provider)
    • Flipkart Paylater
    • Ola Money postpaid
  • Card based Players
    • Slice
    • Postpe
    • Dhani Onefreedom Card
  • M-wallets offering BNPL Services
    • Freecharge Pay Later
    • Paytm Postpaid
    • ZipPay later by Mobikwik
  • Banks offering BNPL Services
    • Pay Later by ICICI

Request for Sample Report @ https://kenresearch.com/sample-report.php?Frmdetails=NTE1MDY0

Key Topics Covered in the Report

  • Global E-Commerce and Online Food Delivery Market Snapshot
  • The Global Buy Now Pay Later Market Overview
  • Buy Now Pay Later and the Fintech Ecosystem in India
  • India Digital Lending Sector Snapshot
  • The Impact of COVID19 in customer behavior
  • India Buy Now Pay Later Market Ecosystem
  • Value Chain Analysis of India Buy Now Pay Later Market
  • Why is the BNPL market picking up traction in India?
  • Regulatory landscape of BNPL Market
  • Issues, Challenges and Risks in the Buy Now Pay Later Market in India
  • SWOT Analysis of the Buy Now Pay Later Market in India
  • Analysis of BNPL market as a part of Digital Lending Sector In India
  • India Buy Now Pay Later Market Size, By GMV, In INR Crores, FY’19-FY’21
  • Trend Analysis of Average Value per Transaction, In INR, FY’19 to FY’21
  • Segmentation, By Mode of Payment (Online vs Offline)
  • Segmentation, By Lending Channels (such as E-commerce retail, Food aggregators, travel aggregators, etc.)
  • Segmentation, By Geography
  • Consumer Segmentation of the BNPL Space, By Age Group, FY’21
  • Adoption Rationale of BNPL Services
  • Cross Comparison of Major BNPL Players across major decision making parameters (such as onboarding process, ease of use, brand image, customer ratings, issueas and praise points by customers)
  • Market Share (By GMV), and Average daily Transactions, of Major Buy Now Pay Later Players in India, FY21
  • Revenue Growth Analysis of Major Players in the BNPL Space, FY’19-FY’21
  • Investment Analysis of the BNPL Players
  • A look at Investment rounds of Major BNPL Players
  • Comparative Assessment: Company Overview (Vintage, Office Location, Number of Employees, Holding Company)
  • Comparative Assessment: USP, Number of Users, Merchant Partners and Lending Partners
  • Case Study 1: EPayLater, the leading B2B BNPL Player in India
  • Case Study 2: SaveIN, a BNPL Player dedicated to healthcare
  • Future of Lending Channels of BNPL Space in India
  • Expected Changes in Regulation as proposed by RBI
  • Market Size of Buy Now Pay Later Market in India and Projected Ticket Size, by GMV (INR), FY’22-FY’26
  • Industry Best Practices
  • Opportunities in the demand side
  • Industry Speaks

For more information on the research report, refer to below link:

India Buy Now Pay Later Market Size, Outlook & Trends 2026

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