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South Africa Buy Now, Pay Later Boom: $5.7 Billion Growth by 2027 Fueled by Credit Access & E-commerce Surge: Ken Research

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GURUGRAM, India, Feb. 19, 2024 /PRNewswire/ — South Africa’s Buy Now, Pay Later (BNPL) market is experiencing rapid growth, fueled by the increasing demand for flexible credit options and the booming e-commerce sector. Ken Research’s “South Africa Buy Now, Pay Later Market” report predicts a remarkable 14.8% CAGR, translating to a substantial $5.7 billion market size by 2027. This press release unpacks the key drivers, challenges, and exciting prospects shaping this dynamic landscape. 

 

Market Overview: Empowering Consumers, Boosting Retail 

Beyond simply offering delayed payments, BNPL services play a crucial role in expanding financial inclusion, making online shopping more accessible, and stimulating economic growth. In 2022, the market reached a size of $1.7 billion, and it’s on track for significant expansion, driven by: 

Limited Access to Traditional Credit: Restrictive access to credit cards and high interest rates make BNPL a viable alternative for many consumers. E-commerce Explosion: Rising internet penetration and mobile adoption fuel online shopping, creating a strong demand for BNPL solutions. Convenience & Affordability: Easy online application processes and manageable payment installments enhance consumer appeal. Merchant Benefits: Increased sales volumes and reduced cart abandonment rates benefit retailers adopting BNPL options. 

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Market Segmentation: Diverse Solutions, Tailored Needs 

The report delves into various segments of the South African BNPL market, offering a comprehensive view: 

Payment Cycle: Interest-free options within 3-6 months dominate (70%), followed by longer installment plans with interest (20%) and point-of-sale financing (10%). Industry: Retail & e-commerce leads the demand (60%), followed by travel & tourism (20%) and education (10%). BNPL caters to diverse purchase needs. Player Type: Established financial institutions hold the largest share (50%), followed by fintech startups (40%) and mobile network operators (10%). Players offer varying value propositions. 

Competitive Landscape: Local & Global Players Collaborate 

The market features a blend of established local players, global giants, and innovative startups: 

Local Champions: PayJustNow, Payflexi, and Mobi Credit cater to the local market with flexible solutions and partnerships with retailers. Global Titans: Klarna, Afterpay, and PayPal offer international expertise and diverse product offerings. Emerging Challengers: Fintech startups like Lamna and Easy Equities disrupt the market with innovative technologies and niche offerings. 

Challenges: Navigating the Road to Responsible Growth 

Despite the promising outlook, some challenges need to be addressed: 

Regulatory Framework: Lack of specific regulations for BNPL services can raise concerns about over-indebtedness and consumer protection. Data Security & Privacy: Protecting sensitive consumer data and ensuring responsible data practices are crucial for long-term trust. Financial Literacy: Educating consumers about responsible BNPL usage and potential risks is essential to avoid financial distress. Competition & Sustainability: Intense competition can lead to aggressive marketing practices and unsustainable business models. 

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Future Outlook: A Secure, Responsible, and Inclusive BNPL Ecosystem 

The South African BNPL market is poised for continued growth, driven by several exciting factors: 

Focus on Financial Inclusion: Partnerships with microfinance institutions and targeted offerings can expand access to BNPL for underserved communities. Technological Advancements: Integration with artificial intelligence and data analytics will enhance risk assessment and personalize consumer experiences. Regulatory Clarity: Establishment of clear regulations will promote responsible lending practices and build consumer confidence. Collaboration & Innovation: Partnerships between stakeholders will foster responsible growth, address challenges, and drive innovation. 

Key Takeaways for Stakeholders: 

This report offers valuable insights for various stakeholders in the South African BNPL market, including: 

BNPL Providers: Focusing on responsible lending practices, data security, and financial literacy initiatives. Investors: Identifying high-growth opportunities in segments like BNPL for underserved communities and innovative technologies. Retailers: Partnering with reliable BNPL providers, integrating seamless BNPL options, and ensuring transparency. Regulators: Developing clear and balanced regulations that protect consumers and promote responsible market growth. Consumers: Understanding the terms and conditions of BNPL options, using them responsibly, and seeking financial advice if needed. 

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Conclusion: 

South Africa’s BNPL market stands on the cusp of a transformative journey, offering immense potential for financial inclusion, e-commerce growth, and economic development.

For More Insights On Market Intelligence, Refer To The Link Below: –

South Africa Buy Now Pay Later Market

Related Reports by Ken Research: –

Malaysia Buy Now Pay Later Market Outlook to 2027F Driven by Digitalization, Rising Tech-Savvy Population, Increasing M&A Deals, Partnerships between BNPL players and Banks along with shifting preference towards BNPL

According to Ken Research estimates, the Malaysia BNPL Market – which grew from approximately USD ~140 Mn in 2019 to approximately USD ~560 Mn in 2022 – is forecasted to grow further into USD ~2700 Mn opportunity by 2027F, owing to the New Government Policies, New Players in the Market and Partnership with Companies.

KSA Buy Now Pay Later Market Outlook to 2027 Driven by digitalization, government support as a part of Saudi vision 2030 increasing Genz & millennials population due to influx of expatriates coupled with shifting preference towards easy interest free extra credit line sources

The KSA BNPL marketis estimated to expand at a CAGR of ~xx% in between 2022P and 2027E on the basis of number of transactions done. Increasing adoption of cashless society with emergence of digital payments fueled by surging working age class will derive the traction of BNPL industry among the users in KSA Increasing demand for extra credit line with less stringent KYC procedures without relying on CIBIL scores will be traction for consumers for utilization of BNPL services.

UAE Buy Now Pay Later Industry Outlook to 2027 Driven by adoption of cashless society, increasing Genz & millennials population coupled with shifting preference towards easy interest free extra credit line sources

UAE BNPL market is expected to expand with a single digit CAGR in between 2022 and 2027 on the basis of revenue generated. It is anticipated that BNPL industry will grow at a substantial rate owing to factors such as due to wider acceptability at shops and better product offerings in a competitive landscape in the coming years. UAE has been culturally conservative towards BNPL and it is always seen as a debt trap instrument.

US Micro Lending Market Outlook to 2028 Segmented by Product (Micro-credit/ Micro-loans, Micro-savings, Micro-Insurance, and Remittances and Money Transfer), By End-User (Small enterprises, Solo entrepreneurs & self-employed, Farmers & Agriculture workers, and Healthcare Recipients)

The US Micro Lending market is expected to grow at a CAGR of 12 % from 2022 to 2028 with low-interest Rates, Ease of Access, Technological Advancements, flexible repayment schedules, and Alternative credit score models. As the market is anticipated to grow remarkably in the forecasted period thus the demand for microloans will also increase significantly.

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Contact Us:-
Ken Research Private Limited
Ankur Gupta, Director Strategy and Growth
Ankur@kenresearch.com
+91-9015378249

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ST Engineering iDirect and MBSat Partner to Build Next-Generation Sovereign Connectivity Services Across Oman and the Middle East

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Intuition ground system selected to support MBSat’s planned 2027 service launch, enabling accelerated deployment, dynamic resource management and scalable service growth

HERNDON, Va., Oct. 25, 2026 /PRNewswire/ — ST Engineering iDirect today announced a strategic partnership with Mohammed Al Barwani Satellite Company (MBSat), part of Mohammed Al Barwani Group, to provide the ground system technology foundation for MBSat’s next-generation satellite gateway and network operations across Oman and the wider Middle East region. Intuition will provide a flexible, software-defined foundation to support sovereign connectivity services, enabling efficient service deployment, dynamic resource management and scalable network operations.

Intuition will deliver a turnkey ground segment solution that accelerates deployment, simplifies operations and gives MBSat the flexibility to scale services as demand grows. The software-defined platform enables dynamic resource management, service automation and seamless integration with existing and future operational systems. The solution also includes Ka-band gateway infrastructure, service provisioning and management capabilities, open API integration frameworks, training and full-lifecycle support. Together, these capabilities will help MBSat launch and operate services efficiently while adapting to evolving market requirements.

The network will leverage capacity from MB Sat-1, a sovereign MicroGEO satellite, with planned service launch in 2027, to support flexible, scalable connectivity services across the region.

The partnership reflects growing investment in sovereign communications infrastructure across the Middle East as operators seek greater control over service delivery, network expansion and long-term technology evolution.

“This partnership represents an important milestone in our efforts to build an advanced satellite communications platform in Oman and the region,” said Ammar Al Rawahi, General Manager, MBSat. “Through our collaboration with ST Engineering iDirect, we are establishing the technical infrastructure required to launch services efficiently, respond to evolving customer needs and expand into new markets, supporting the sustainable long-term growth of our business.”

“We are providing MBSat with a flexible, software-defined ground platform that integrates with its existing operational environment,” said Sridhar Kuppanna, Chief Executive Officer, ST Engineering iDirect. “This enables more efficient service deployment and operations today, with the flexibility to scale, introduce new capabilities and evolve as requirements change.”

About ST Engineering iDirect

ST Engineering iDirect, a subsidiary of ST Engineering, is a global leader in satellite communications, providing technology and solutions that enable its customers to expand their business, differentiate their services and optimize their networks. Through its portfolio of ground infrastructure, intelligent networking and advanced satellite communications solutions, the company supports operators, service providers, governments and enterprises worldwide.

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SOURCE ST Engineering iDirect

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ST Engineering iDirect and MBSat Partner to Build Next-Generation Sovereign Connectivity Services Across Oman and the Middle East

Published

on

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Intuition ground system selected to support MBSat’s planned 2027 service launch, enabling accelerated deployment, dynamic resource management and scalable service growth

HERNDON, Va., Oct. 25, 2026 /PRNewswire/ — ST Engineering iDirect today announced a strategic partnership with Mohammed Al Barwani Satellite Company (MBSat), part of Mohammed Al Barwani Group, to provide the ground system technology foundation for MBSat’s next-generation satellite gateway and network operations across Oman and the wider Middle East region. Intuition will provide a flexible, software-defined foundation to support sovereign connectivity services, enabling efficient service deployment, dynamic resource management and scalable network operations.

Intuition will deliver a turnkey ground segment solution that accelerates deployment, simplifies operations and gives MBSat the flexibility to scale services as demand grows. The software-defined platform enables dynamic resource management, service automation and seamless integration with existing and future operational systems. The solution also includes Ka-band gateway infrastructure, service provisioning and management capabilities, open API integration frameworks, training and full-lifecycle support. Together, these capabilities will help MBSat launch and operate services efficiently while adapting to evolving market requirements.

The network will leverage capacity from MB Sat-1, a sovereign MicroGEO satellite, with planned service launch in 2027, to support flexible, scalable connectivity services across the region.

The partnership reflects growing investment in sovereign communications infrastructure across the Middle East as operators seek greater control over service delivery, network expansion and long-term technology evolution.

“This partnership represents an important milestone in our efforts to build an advanced satellite communications platform in Oman and the region,” said Ammar Al Rawahi, General Manager, MBSat. “Through our collaboration with ST Engineering iDirect, we are establishing the technical infrastructure required to launch services efficiently, respond to evolving customer needs and expand into new markets, supporting the sustainable long-term growth of our business.”

“We are providing MBSat with a flexible, software-defined ground platform that integrates with its existing operational environment,” said Sridhar Kuppanna, Chief Executive Officer, ST Engineering iDirect. “This enables more efficient service deployment and operations today, with the flexibility to scale, introduce new capabilities and evolve as requirements change.”

About ST Engineering iDirect

ST Engineering iDirect, a subsidiary of ST Engineering, is a global leader in satellite communications, providing technology and solutions that enable its customers to expand their business, differentiate their services and optimize their networks. Through its portfolio of ground infrastructure, intelligent networking and advanced satellite communications solutions, the company supports operators, service providers, governments and enterprises worldwide.

View original content to download multimedia:https://www.prnewswire.com/news-releases/st-engineering-idirect-and-mbsat-partner-to-build-next-generation-sovereign-connectivity-services-across-oman-and-the-middle-east-302918467.html

SOURCE ST Engineering iDirect

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Global Security & Technology Summit Unveils Month-Long Program of Activities Ahead of December Event

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RIYADH, Saudi Arabia, Oct. 24, 2026 /PRNewswire/ — The Organizing Committee of the Global Security & Technology Summit (GSTS) held an introductory session today at the Ministry of Interior’s headquarters in Riyadh, bringing together representatives from the government, private, and nonprofit sectors to introduce the program of activities leading up to the summit. The upcoming summit will be held in Riyadh under the patronage of HRH Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, under the supervision of HRH Prince Abdulaziz bin Saud bin Naif bin Abdulaziz Al Saud, Minister of Interior, and organized by the Ministry of Interior in cooperation with Tuwaiq Academy.

During the session, the Organizing Committee presented the comprehensive GSTS program, comprising three key components: GSTS Month, running from November 1 to 30, 2026; the Global Security & Innovation Fair (SAIF), taking place from November 24 to 26, 2026; and the main Summit, scheduled for December 18 to 20, 2026, in Riyadh. Together, these events form an integrated program designed to advance security and technology innovation, strengthen national capabilities, and foster international cooperation.

GSTS Month will feature working groups, boot camps, training programs, knowledge-sharing sessions, and technical workshops across Saudi Arabia’s 13 administrative regions, delivered both in person and remotely in collaboration with specialized entities. The month-long program aims to develop national capabilities, identify emerging talent, enrich knowledge-sharing opportunities, and equip professionals with the knowledge and skills needed to develop innovative solutions to future security and technology challenges.

The main Summit will bring together global leaders, decision-makers, experts, and innovators to explore the future of security and technology, promote the integration of advanced technologies within the security sector, strengthen national capabilities, support innovation, and foster international cooperation, further positioning the Kingdom as a global hub for security and technology.

Showcasing the latest technological breakthroughs and security solutions, the summit will bring together government entities, private sector organizations, academic institutions, and research centers to facilitate knowledge exchange and collaboration across key fields, including cybersecurity, artificial intelligence (AI), the Internet of Things (IoT), smart security solutions, emerging technologies, and crisis management. The program will also feature main sessions, specialized discussions, and interactive exhibitions. Registration is available at gsts.sa.

Advisor to HRH the Minister of Interior and Chairman of the GSTS Organizing Committee, Ahmed Altowayan, stated that the summit builds on Saudi Arabia’s efforts to establish an advanced security and technology ecosystem focused on knowledge and innovation, keeping pace with rapid developments and future challenges.

Mr. Altowayan noted that the summit is a global platform for strengthening cooperation and exchanging expertise, anticipating future developments in security and technology, and developing strategic partnerships and innovative solutions that enhance the efficiency and readiness of security systems.

Vice Chairman of the GSTS Organizing Committee, Eng. Abdulaziz Alhammadi, said that the summit will offer a range of integrated programs and activities focused on enhancing national skills, encouraging innovation, and supporting international cooperation.

He added that GSTS Month will help build national capabilities, discover talent, and develop skills, with SAIF providing a platform for innovators and researchers from around the world to showcase leading technological solutions, while the main Summit will bring together leaders and experts to discuss the future of security and technology and explore new strategic partnership opportunities.

SAIF will take place at the Riyadh International Convention & Exhibition Center, bringing together innovators, researchers, technology talents, and industry experts from around the world to showcase promising innovations and projects across 14 fields of technology and innovation. The fair will provide opportunities to engage with project owners, including students, graduates, and entrepreneurs, and explore the different stages of innovation development through interactive zones, panel discussions on emerging security and innovation trends, and knowledge-sharing workshops led by specialists. Visitor registration is open to participants from within and outside the Kingdom through saifair.sa.

The introductory session also featured contributions from representatives of government, private, and nonprofit sector entities, alongside members of the media. Discussions focused on developing national capabilities in security and technology, strengthening students’ technical expertise, translating scientific research into practical solutions, and supporting Saudi companies in developing security and technology solutions and advancing digital transformation.

Organized by the Ministry of Interior in cooperation with Tuwaiq Academy, GSTS is produced by Tahaluf, with the Ministry of Education serving as Strategic Scientific Partner, Tahakom as Founding Partner, and Elm as Principal Partner.

Registration for participants from within and outside the Kingdom is available at gsts.sa.

Click here to view the media kit. 

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