Tamara unveils its latest White Paper: “BNPL in the GCC: A Stellar Ascent with Promising Prospects”

Tamara is proud to unveil its latest White Paper, a comprehensive exploration titled "BNPL in the GCC: A Stellar Ascent with Promising Prospects." This insightful whitepaper takes you on a journey through the thriving BNPL industry, with a particular focus on the GCC, unraveling its meteoric rise and highlighting the vast potential it holds for businesses and consumers alike.

Chapter 1: BNPL: A global phenomenon taking the GCC by storm

Alternative Payment Methods (APMs) have firmly established their dominance in global payments, displaying promising growth. Notably, Buy Now Pay Later stands out as the 5th most-used B2C payment method in 2022, both online and offline. This global phenomenon has experienced meteoric growth since its inception, thanks to remarkable performance in mature markets. With BNPL's robust customer demand expected to grow by an impressive 20% year over year, an increasing number of startups and established payment players are venturing into the space.

The triumph of BNPL is pronounced in the GCC, fueled by faster e-commerce growth compared to global averages and favorable market penetration prospects. Investors are taking note, showcasing their confidence through unprecedented funding. Customers are rapidly adopting BNPL at remarkable rates. In parallel, 40 thousand businesses, including major category leaders and retail groups, have enabled BNPL in response

Chapter 2: The win-win dynamics of BNPL for businesses and customers 

Buy Now Pay Later has not only transformed the way consumers shop and pay but has also presented a myriad of advantages for businesses, creating a positive, self-reinforcing flywheel effect. For customers, BNPL offers a cheaper, faster, and more flexible alternative to traditional credit, rooted in its customer-centric principles. For businesses, the potential for revenue growth and cost optimization outweighs the price tag.

Chapter 3: Massive value remains to be unlocked

Even more turbocharged in the GCC, BNPL’s global success is neither coincidental nor short-lived. It is here to stay, driving financial inclusion and stimulating the economy. Underpinned by fundamental customer needs, macroeconomic drivers, and alignment with government agendas, BNPL holds the key to unlocking a massive USD 42 billion opportunity in the GCC by 2026. Realizing the economic prospects associated with this opportunity demands trilateral collaboration between regulators, businesses, and BNPL providers.