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Is Southeast Asia ready to buy now, pay later?
In Southeast Asia, the BNPLfeature is still in its infancy. Let's find out if the region is ready for this fintech revolution
Clarence Siut10 Feb, 2021. https://e27.co/about/
https://e27.co/is-southeast-asia-ready-for-buy-now-pay-later-20210208/

Finally, the growth of e-commerce in Southeast Asia highlights the viability of BNPL in the region. The two go hand in hand, as the usage of BNPL payment services are derived from e-commerce transactions. BNPL platforms are already on the rise in the e-commerce scene in Southeast Asia, with BNPL service providers such as Singaporean based Hoolah seeing unprecedented growth.The company experienced a 700 per cent increase in transaction volumes over six months between April and October 2020, and a 280 per cent increase in the number of e-commerce retail stores partners (totally 1,000) from October 2019 to October 2020. (130 employees) If Hoolah’s success is still in doubt, it raised a whopping eight-figure sum in its Series A funding round.Starting from humble beginnings, Southeast Asian eCommerce revenue will grow from a mere USD$17.2 million in 2017, to an expected US$100 million by 2025. With e-commerce revenue in Southeast Asia expected to show an annual growth rate of 10.3 per cent between 2021 and 2025, the ground is fertile for BNPL to take hold.This opportunity is underlined by the increasing number of BNPL providers available to consumers. In the Philippines, BNPL platforms such as BillEase, Jungle and TendoPay are seeing growing traction, while regionally a slew of new entrants have emerged and incumbent businesses are adding BNPL options to their repertoire.