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United Arab Emirates Buy Now Pay Later Business Report 2024-2029: Global Firms are Racing to Enter the Fast-Growing BNPL Industry in UAE

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DUBLIN, Feb. 9, 2024 /PRNewswire/ — The “UAE Buy Now Pay Later Business and Investment Opportunities Databook – 75+ KPIs on BNPL Market Size, End-Use Sectors, Market Share, Product Analysis, Business Model, Demographics – Q1 2024 Update” report has been added to  ResearchAndMarkets.com’s offering.

BNPL payments in the country are expected to grow by 16.6% on an annual basis to reach US$3.04 billion in 2024.

The medium to long-term growth story of the BNPL industry in the country remains strong. BNPL payment adoption is expected to grow steadily over the forecast period, recording a CAGR of 10.8% during 2024-2029. The BNPL gross merchandise value in the country will increase from US$2.60 billion in 2023 to reach US$5.07 billion by 2029.

This report provides a detailed data-centric analysis of the Buy Now Pay Later (BNPL) industry, covering market opportunities and risks across a range of retail categories. With over 75 KPIs at the country level, this report provides a comprehensive understanding of BNPL market dynamics, market size and forecast, and market share statistics.

The buy now pay later market is expected to grow at a steady pace over the medium term in the United Arab Emirates. The rising uptake of the payment method among shoppers, coupled with new entrants in the sector, will support the growth trajectory of the market in 2024. Existing BNPL providers are also raising funding rounds from venture capital and private equity firms.

With the market poised for growth over the next three to four years, authorities have been looking to regulate the unregulated sector. In the Emirates, the central bank has issued new guidelines for BNPL firms, requiring them to get licensed to operate in the market. The guidelines, coupled with the rising adoption, are projected to support sustainable industry growth over the next three to four years.

Firms are raising debt and equity rounds to further scale their product offering in the region

The demand for payment solutions like BNPL is poised to grow further in 2024. Consequently, to better serve consumer demand, firms are raising capital through debt and equity rounds in the Emirates.

Tabby, one of the leading UAE-based BNPL firms, announced that the firm had secured US$700 million in debt financing from JPMorgan, while also extending its Series D round to US$250 million in November 2023. The capital round further strengthens the position of Tabby in the domestic and regional markets, where it manages more than US$6 billion in annualized transaction volume. Tabby, notably, serves more than 10 million users and has partnered with over 30,000 brands.

The firm has been innovating with its product lineup, as it seeks to better meet the evolving needs of its users. Tabby, in 2023, launched Tabby Shop offering more than 500,000 products from thousands of brands. Tabby Card is also picking up pace, with transactions reaching more than 20% of the total volumes. To widen the distribution of its BNPL product, the firm is also forging strategic alliances in the Emirates. Tabby, in September 2023, entered into a partnership with Arabian Automobiles to offer enhanced convenience and flexibility for vehicle maintenance and repairs.

Furthermore, firms are also expected to raise venture capital and private equity funding, thereby driving innovation and a competitive landscape in the sector.

Global firms are entering the fast-growing buy now pay later industry in the United Arab Emirates

The BNPL industry is projected to grow steadily over the next three to four years, amid rising adoption of the payment method. To tap into the growing market, global firms are entering into the industry with their solutions.

Alif, one of the leading global fintech firms, launched its financial services suite in the United Arab Emirates market in September 2023. The financial services suite includes products like send now pay later, buy now pay later, and fly now pay later, among others. The firm also launched global remittance services for residents in the United Arab Emirates.

As the market continues to grow and more global players launch their products in the Emirati nation, the competitive landscape is poised to grow even further from the short to medium-term perspective.

The Central Bank issued new guidelines for buy now pay later firms in the United Arab Emirates

The Central Bank, in December 2023, announced new regulations to oversee BNPL services. According to the UAE Central Bank, businesses providing BNPL services must operate as agents of licensed banks or financial institutions, with approval from the central bank.

Fintech companies in the BNPL sector can also offer short-term credit services after obtaining a license as restricted license finance companies. Unlicensed entities providing short-term credit must either apply for a license or collaborate with licensed banks to continue their services.

The central bank has defined short-term credit as credit granted for up to 12 months for purchasing goods or services without interest, collateral, or a security deposit. This regulation aligns with the growing global trend of BNPL services, driven by increased consumer demand for flexible payment options and the expansion of e-commerce. These guidelines will serve as the foundation for further regulatory activities for the BNPL sector in the Emirates.

Scope

UAE BNPL Market Size and Spending Pattern, 2020-2029

Gross Merchandise Value Trend AnalysisAverage Value Per Transaction Trend AnalysisTransaction Volume Trend Analysis

UAE Buy Now Pay Later Revenue Analysis, 2020-2029

Buy Now Pay Later RevenuesBuy Now Pay Later Share by Revenue SegmentsBuy Now Pay Later Revenue by Merchant CommissionBuy Now Pay Later Revenue by Missed Payment Fee RevenueBuy Now Pay Later Revenue by Pay Now & Other Income

UAE Buy Now Pay Later Operational KPIs & Statistics, 2020-2029

Buy Now Pay Later Active Consumer BaseBuy Now Pay Later Bad Debt

UAE BNPL by Purpose, 2020-2029

Convenience – Short Term LoansCredit – Long Term Loans

UAE BNPL by Business Model, 2020-2029

Two-Party (BNPL offered by retailers)Three-Party BNPL Offering

UAE BNPL by Merchant Ecosystem, 2020-2029

Open Loop SystemClosed Loop System

UAE BNPL by Distribution Model Analysis, 2020-2029

StandaloneBanks & Payment Service ProvidersMarketplaces

UAE BNPL Analysis by Channel, 2020-2029

Online ChannelPOS Channel

UAE Buy Now Pay Later in Retail Shopping: Market Size and Forecast, 2020-2029

Gross Merchandise Value Trend AnalysisAverage Value Per Transaction Trend AnalysisTransaction Volume Trend Analysis

UAE Buy Now Pay Later in Home Improvement: Market Size and Forecast, 2020-2029

Gross Merchandise Value Trend AnalysisAverage Value Per Transaction Trend AnalysisTransaction Volume Trend Analysis

UAE Buy Now Pay Later in Travel: Market Size and Forecast, 2020-2029

Gross Merchandise Value Trend AnalysisAverage Value per Transaction Trend AnalysisTransaction Volume Trend Analysis

UAE Buy Now Pay Later in Media and Entertainment: Market Size and Forecast, 2020-2029

Gross Merchandise Value Trend AnalysisAverage Value per Transaction Trend AnalysisTransaction Volume Trend Analysis

UAE Buy Now Pay Later in Services: Market Size and Forecast, 2020-2029

Gross Merchandise Value Trend AnalysisAverage Value Per Transaction Trend AnalysisTransaction Volume Trend Analysis

UAE Buy Now Pay Later in Automotive: Market Size and Forecast, 2020-2029

Gross Merchandise Value Trend AnalysisAverage Value Per Transaction Trend AnalysisTransaction Volume Trend Analysis

UAE Buy Now Pay Later in Healthcare and Wellness: Market Size and Forecast, 2020-2029

Gross Merchandise Value Trend AnalysisAverage Value Per Transaction Trend AnalysisTransaction Volume Trend Analysis

UAE Buy Now Pay Later in Others: Market Size and Forecast

Gross Merchandise Value Trend AnalysisAverage Value Per Transaction Trend AnalysisTransaction Volume Trend Analysis

UAE Buy Now Pay Later Analysis by Consumer Attitude and Behaviour

Sales Uplift by Product CategoryShare by Age GroupShare by IncomeShare by GenderAdoption RationaleAverage Monthly Expense segments

For more information about this report visit https://www.researchandmarkets.com/r/fz274v

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

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Research and Markets
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Boldyn Networks closes acquisition of Cellnex’s private networks business

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The bold move places the neutral host leader at the centre of the growing private networks market

LONDON, March 1, 2024 /PRNewswire/ — Boldyn Networks (Boldyn) today announced the close of its acquisition of Cellnex’s private networks business unit. This largely includes Edzcom, a Finnish pioneer and European market leader that designs, builds, and operates private 4G and 5G networks across enterprise customers in the manufacturing, transport hubs, oil and gas, energy generation, and mining industries. This bold move positions the neutral host leader as a key player in the growing private networks market and widens its portfolio of wireless solutions.

With this acquisition, Boldyn is obtaining a portfolio of more than 50 private networks implementations in Finland, France, Germany, Spain, Sweden, and the UK for world-class enterprises. These dynamic private networks enable industry 4.0 innovation for customers by interconnecting assets, people, and equipment in an agile, sustainable, and safe way. Closing of this acquisition also builds on Boldyn’s 5G overall strategy goals.

“At Boldyn, we’re leading the way in reimagining and deploying the wireless public, hybrid and private networks underpinning our customers’ digital transformations,” said Igor Leprince, Group CEO of Boldyn Networks. “By bringing Cellnex’s private networks business unit under the Boldyn umbrella, not only are we acquiring additional expertise, but growing our capability to interconnect the most complex environments. From heavy industry facilities, transport systems, city-wide networks and large venues to ports and nuclear power plants, we continue to be the neutral host partner of choice for our customers.”

Mikko Uusitalo, CEO of Edzcom, said: “We’re excited to join Boldyn Networks to further develop our combined leading private networks expertise and offering. Boldyn is disrupting the industry with an impressive portfolio of neutral host solutions, which gives us the opportunity to continue in our innovation journey. And with the private networks market opportunity growing at an accelerated pace, I have no doubt we’ll grow stronger, and continue entering new markets, always with our customers at the centre.”

Cellnex’s private networks business unit -the Edzcom team- will become part of Boldyn’s Group Strategy team as a strategic part of the company’s future growth.

To this end, Justin Berger, Group CSO for Boldyn said: “Cellnex’s private networks business unit is a perfect addition to the Boldyn family as we strive to provide more top-tier connectivity to power industrial transformation. We’ll increasingly see bespoke private networks enable 5G use cases. Like enterprise automation, advanced robotics, video surveillance, smart IoT devices working in large areas, employee safety, and many others. Private 5G networks provide secure connectivity to unlock new services and the ability for customers to control and monitor the network in real time.”

“We can’t wait to contribute with developing more 5G use cases that can drastically improve efficiency and productivity across many sectors,” he added.

-END-     

About Boldyn Networks

Boldyn Networks is one of the world’s largest neutral host providers, delivering the advanced shared network infrastructure needed for a smart, inclusive, and sustainable future. It brings together the combined scale and expertise of seven leading companies with a single purpose: to unlock the power of an interconnected future. From interconnected transit, venues and enterprises to smart cities, next-generation, and bespoke private networks, Boldyn enables new possibilities in the way people live, work and play. Bringing connectivity to the most complex environments. Our portfolio is harnessing fibre, advancing 4G/LTE, accelerating 5G, preparing for 6G–and looking beyond to the next breakthroughs. With headquarters in the UK our global operations span North America, Europe, and Asia. Boldyn Networks. Reimagine tomorrow. Transform today.

Learn more at: www.boldyn.com  

About Cellnex Telecom

The efficient deployment of next-generation connectivity is essential to drive technological innovation and accelerate inclusive economic growth. Cellnex is the independent wireless telecommunications and broadcasting infrastructures operator that enables operators to access Europe’s most extensive network of advanced telecommunications infrastructures on a shared-use basis, helping to reduce access barriers for new operators and to improve services in the most remote areas.

Cellnex manages a portfolio of around 135,000 sites —including forecast rollouts up to 2030– in Spain, Italy, the Netherlands, France, Switzerland, the United Kingdom, Ireland, Portugal, Austria, Denmark, Sweden and Poland. Cellnex’s business is structured in four major areas: telecommunications infrastructure services; audio-visual broadcasting networks, security and emergency service networks and solutions for smart urban infrastructure and services management.

The company is listed on the continuous market of the Spanish stock exchange and is part of the selective IBEX 35 and EuroStoxx 100 indices. It is also present in the main sustainability indexes, such as DJSI, CDP, Sustainalytics, FTSE4Good and MSCI.

For more information: http://www.cellnex.com/

For media enquiries: boldyn@ccgrouppr.com

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Yalla Group Limited to Report Fourth Quarter and Full Year 2023 Financial Results on March 11, 2024 Eastern Time

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DUBAI, UAE, March 1, 2024 /PRNewswire/ — Yalla Group Limited (“Yalla” or the “Company”) (NYSE: YALA), the largest Middle East and North Africa (MENA)-based online social networking and gaming company, today announced that it will report its unaudited financial results for the fourth quarter and full year 2023 after the U.S. market closes on Monday, March 11, 2024.

Yalla Group Limited will hold a conference call on Monday, March 11, 2024, at 8:00 PM Eastern Time, 4:00 AM Dubai Time on Tuesday, March 12, 2024, or 8:00 AM Beijing Time on Tuesday, March 12, 2024, to discuss the financial results. Listeners may access the call by dialing the following numbers:

United States Toll Free: 

+1-888-317-6003

International:

+1-412-317-6061

United Arab Emirates Toll Free:

80-003-570-3589

Mainland China Toll Free:

400-120-6115

Hong Kong Toll Free: 

800-963-976

Access Code:

1609316

The replay will be accessible through March 18, 2024, by dialing the following numbers:

United States Toll Free:

+1-877-344-7529

International:

+1-412-317-0088

Access Code:

1323561

A live and archived webcast of the conference call will also be available at the Company’s investor relations website at https://ir.yalla.com.

About Yalla Group Limited

Yalla Group Limited is the largest MENA-based online social networking and gaming company, in terms of revenue in 2022. The Company operates two flagship mobile applications, Yalla, a voice-centric group chat platform, and Yalla Ludo, a casual gaming application featuring online versions of board games, popular in MENA, with in-game voice chat and localized Majlis functionality. Building on the success of Yalla and Yalla Ludo, the Company continues to add engaging new content, creating a regionally-focused, integrated ecosystem dedicated to fulfilling MENA users’ evolving online social networking and gaming needs. Through its holding subsidiary, Yalla Game Limited, the Company has expanded its capabilities in mid-core and hard-core games in the MENA region, leveraging its local expertise to bring innovative gaming content to its users. In addition, the growing Yalla ecosystem includes YallaChat, an IM product tailored for Arabic users and casual games such as Yalla Baloot and 101 Okey Yalla, developed to sustain vibrant local gaming communities in MENA. Yalla is also actively exploring outside of MENA with Yalla Parchis, a Ludo game designed for the South American markets. Yalla’s mobile applications deliver a seamless experience that fosters a sense of loyalty and belonging, establishing highly devoted and engaged user communities through close attention to detail and localized appeal that profoundly resonates with users.

For more information, please visit https://ir.yalla.com.

Investor Relations Contact

Yalla Group Limited
Investor Relations
Kerry Gao – IR Director
Tel: +86-571-8980-7962
Email: ir@yalla.com

Piacente Financial Communications
Jenny Cai
Tel: +86-10-6508-0677
Email: yalla@tpg-ir.com

In the United States:

Piacente Financial Communications
Brandi Piacente
Tel: +1-212-481-2050
Email: yalla@tpg-ir.com

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SOURCE Yalla Group Limited

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Now is The Time to Process W2 and W3 Corrections with 2023 ezW2Correction Software

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The latest version of ezW2Correction software includes pdf format, efile and printing W2C forms. Test drive ezW2Correction software at halfpricesoft.com with no cost or obligation.

ALLENTOWN, Pa., March 1, 2024 /PRNewswire-PRWeb/ — ezW2Correction software from Halfpricesoft.com, offers support for employers and tax professionals to seamlessly process and file W2C and W3C correction forms. With one 2023 version, clients can process unlimited corrections from years 2014-2023. Furthermore, if printing forms is preferred, the application is SSA approved to print the corrections on plain white paper and this feature is SSA approved.

Latest 2023 ezW2Correction software supports business owners, tax professionals and HR streamlining the task for novice clients.

Latest 2023 ezW2Correction software always supports unlimited filing and forms in one single installation starting at 49.00 for paper printing. Efile and other features are available for an additional cost. Our complimentary support features online video tutorials, Forum and email.

Note to businesses: To correct a Form W-2 already submitted, file a Form W-2c with a separate Form W-3c for each year needing correction. File a Form W-3C whenever you file a Form W-2C, even if only filing a Form W-2C to correct an employee’s name or Social Security number (SSN).

“Latest 2023 ezW2Correction software supports business owners, tax professionals and HR streamlining the task for novice clients.” Said Halfpricesoft.com Founder, Dr. Ge

ezW2Correction has a user-friendly design that allows customers to get started immediately after installation from https://www.halfpricesoft.com/w2c_software.asp . The software’s point-and-click simplicity makes it ideal for business owners and tax professionals who have better things to do than learn complicated software.

The robust features that are included in the application are:

ezW2Correction software can print W-2C (copy 1, 2, A, B, C and D) and W3C on plain white paper. This feature is SSA-approved.ezW2Correction can print recipient copies into PDF format to email it to recipients quickly.If pre-printed forms are the preferred method of processing W2 and W3 correction forms, ezW2Correction can also fill data on pre-printed forms.ezW2Correction can support unlimited forms, unlimited recipients and unlimited companies with no extra charge.ezW2Correction also supports the efile feature.

ezW2 Correction is approved by SSA to print all W2C and W3C forms on plain white paper. This will allow customers to save money on expensive preprinted forms.

To begin a no cost or obligation trial version of ezW2Correction software, please visit
https://www.halfpricesoft.com/w2c_software.asp

About halfpricesoft.com
Halfpricesoft.com is a leading provider of small business software, including online and desktop payroll software, online employee attendance tracking software, accounting software, in-house business and personal check printing software, W2, software, 1099 software, Accounting software, 1095 form software and ezACH direct deposit software. Software from halfpricesoft.com is trusted by thousands of customers and will help small business owners simplify payroll processing and streamline business management.

Media Contact

T. Bernard, halfpricesoft.com, 502-259-0936, services@halfpricesoft.com, halfpricesoft.com

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