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Japan Buy Now Pay Later Business and Investment Opportunities (2019-2028) Databook – 75+ KPIs on Buy Now Pay Later Trends by End-Use Sectors, Operational KPIs, Retail Product Dynamics, and Consumer Demographics

Japan Buy Now Pay Later Business and Investment Opportunities (2019-2028) Databook – 75+ KPIs on Buy Now Pay Later Trends by End-Use Sectors, Operational KPIs, Retail Product Dynamics, and Consumer Demographics

  • February 2021
  • 50 pages
  • ID: 6131248
  • Format: PDF
  • PayNXT360

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In recent years, the buy now, pay later (BNPL) payment option has gained substantial traction among consumers in the Japan. The market is expected to be the fastest-growing online payment method from the short to medium-term perspective. According to PayNXT360’s Q2 2021 BNPL Survey, BNPL payment in the country is expected to grow by 134.0% on annual basis to reach US$ 10,009.5 million in 2021.

With the rising market opportunities domestic BNPL startups are partnering with global digital wallet providers to expand market share. For instance, in April 2021, Paidy one of the key BNPL players in Japan partnered PayPal. Under the collaboration, Paidy and PayPal launched a new solution for Japanese consumers, Paidy Link, which allows them to connect to their digital wallets instantly. Notably, the new tool from Paidy will enable account holders to use their digital wallets for shopping internationally immediately.

In a similar way, global BNPL companies are focusing on the Japanese market to expand their businesses. In June 2021, Adyen, an Amsterdam-based BNPL provider, announced that it is launching the deferred payment service for consumers in Japan. The launch of the BNPL service from Adyen in Japan represents the first move from FinTech into a populous market. Notably, the FinTech Company is launching the service in Japan in a bid to change its growth potential.

With the growing adoption of BNPL services among Japanese consumers, companies are innovating with their services to serve more and more merchants in the country. For instance, Paidy uses proprietary models and machine learning to facilitate transactions and guarantee payment for both offline and online retailers in Japan. Using machine learning capabilities, the company is able to underwrite transactions quickly for merchants in the country.

Medium to long term growth story of BNPL industry in Japan remains strong. The BNPL payment adoption is expected to grow steadily over the forecast period, recording a CAGR of 38.1% during 2021-2028. The BNPL Gross Merchandise Value in the country will increase from US$ 4,277.8 million in 2020 to reach US$ 95,674.6 million by 2028.

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