Thailand 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 2025 Update

Key Insights

Rapid Expansion of BNPL Services

• Thailand’s BNPL market growth is largely driven by consumers seeking more flexible and accessible payment options, particularly within the e-commerce sector. As digital transactions become more prevalent, BNPL is emerging as a preferred alternative to traditional credit cards due to its ease of use and transparent fee structures.
• The expansion of e-commerce platforms has played a crucial role in driving BNPL adoption, as online retailers integrate these services to attract and retain customers. Consumers in Thailand increasingly prefer installment-based payments, allowing them to manage their expenses without the long-term commitment of traditional credit. This shift in consumer behavior is prompting financial institutions and fintech companies to introduce BNPL solutions to capture the growing demand.
• Over the next few years, the BNPL sector in Thailand is expected to grow, intensifying competition among providers. New entrants and established players will likely focus on diversifying their BNPL offerings to cater to consumer segments. However, as the market expands, regulatory oversight may also increase, requiring providers to adopt responsible lending practices while continuing to innovate and enhance their services.

Integration of BNPL into E-commerce Platforms

• Integrating BNPL services into Thailand’s e-commerce platforms is accelerating, with companies such as Grab launching PayLater to offer users a consolidated monthly payment option. This shift is making BNPL a standard feature within digital ecosystems, allowing consumers to access deferred payments for retail purchases and services such as transportation and food delivery. As more e-commerce platforms embed BNPL services, consumers increasingly consider it a convenient and flexible way to manage short-term financial commitments.
• The rapid growth of Thailand’s e-commerce sector is a key driver of BNPL adoption, as online retailers seek to attract and retain customers with flexible financing options. By offering BNPL at checkout, businesses can reduce cart abandonment rates and encourage higher transaction values. This trend particularly appeals to younger consumers and those without access to traditional credit, as BNPL provides a more accessible alternative to conventional lending options.
• Over the next few years, BNPL integration across different sectors is expected to further accelerate the shift toward digital payments in Thailand. As adoption grows, financial institutions and fintech firms will continue expanding their BNPL services, making them available across various industries beyond e-commerce. However, as reliance on BNPL increases, regulatory bodies may introduce guidelines to ensure consumer protection and responsible lending, shaping the market’s long-term development.

Strategic Partnerships Enhancing BNPL Reach

• Strategic partnerships between BNPL providers and financial institutions are crucial in expanding the reach of BNPL services. While Visa’s partnership with Affirm in the U.S. reflects the increasing demand for flexible payment options, similar collaborations could emerge in Thailand as the market matures. These alliances allow BNPL providers to integrate their services with established payment networks, enhancing consumer accessibility and merchant adoption.
• The key driver behind this trend is the ability of BNPL providers to leverage existing customer bases and distribution networks to scale rapidly. By collaborating with financial institutions, fintech companies, and e-commerce platforms, BNPL firms can diversify their offerings and increase their market penetration. These partnerships benefit consumers by offering more payment choices and providing businesses with tools to boost sales and customer retention.
• Over the next few years, strategic partnerships are expected to accelerate the adoption of BNPL services in Thailand, making them more mainstream. Providers seeking to differentiate themselves will likely focus on expanding their service offerings and integrating BNPL into a broader range of industries. However, as BNPL gains wider acceptance, regulators may introduce new guidelines to ensure fair lending practices and mitigate risks associated with consumer debt accumulation.

Competitive Landscape and Regulatory Developments in Thailand's Buy Now, Pay Later (BNPL) Market

Current State of the BNPL Market

• Thailand's BNPL market has grown significantly, fueled by the increasing adoption of e-commerce and shifting consumer preferences toward flexible payment options. More consumers opt for installment-based financing over traditional credit options. This growth has positioned BNPL as a key component of Thailand’s evolving digital financial ecosystem.
• As demand for BNPL rises, financial institutions and fintech providers are expanding their service offerings to capture market share. The sector is expected to diversify further, with BNPL solutions integrated into various industries beyond e-commerce. However, regulatory oversight may increase as the market matures to ensure responsible lending and consumer protection.

Key Players and New Entrants

• Atome: A leading BNPL provider in Thailand, offering installment payment solutions to consumers across various retail sectors.
• K PAY LATER: A BNPL service offered by Kasikornbank, providing customers with flexible payment options for purchases.
• SpayLater: A BNPL platform that allows consumers to purchase and pay in installments, catering to the growing demand for alternative credit solutions.
• Pay Next: A BNPL service allows consumers to defer payments across various retail categories.

Recent Launches, Mergers, and Acquisitions

• Visa and Affirm Partnership: In November 2024, Visa partnered with fintech company Affirm to launch a card in the U.S. that combines debit transactions and BNPL purchases. While this partnership is currently in the U.S., similar collaborations could emerge in Thailand as the BNPL market matures.

Outlook

• Over the next 2-4 years, Thailand's BNPL market is expected to expand, driven by ongoing digitalization and increasing consumer demand for flexible payment options. The competitive landscape will likely intensify as new entrants emerge and existing players enhance their offerings. Strategic partnerships and technological innovations will be key drivers of differentiation among providers.

Regulatory Changes

• Currently, BNPL models in Thailand fall outside the scope of the consumer credit regime. However, the growing popularity of BNPL services has led to increasing regulatory scrutiny. The Bank of Thailand has monitored the BNPL sector to ensure consumer protection and financial stability. While specific regulatory changes have not been implemented in the last 12 months, the central bank is considering measures to oversee BNPL activities, which may include requirements for clear disclosure of terms, affordability assessments, and consumer protection measures.

Scope

Thailand BNPL Market Size and Spending Pattern

• Gross Merchandise Value Trend Analysis
• Average Value Per Transaction Trend Analysis
• Transaction Volume Trend Analysis

Thailand Buy Now Pay Later Revenue Analysis

• Buy Now Pay Later Revenues
• Buy Now Pay Later Share by Revenue Segments
• Buy Now Pay Later Revenue by Merchant Commission
• Buy Now Pay Later Revenue by Missed Payment Fee Revenue
• Buy Now Pay Later Revenue by Pay Now & Other Income

Thailand Buy Now Pay Later Operational KPIs & Statistics

• Buy Now Pay Later Active Consumer Base
• Buy Now Pay Later Bad Debt

Thailand BNPL by Purpose

• Convenience - Short Term Loans
• Credit - Long Term Loans

Thailand BNPL by Business Model

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

Thailand BNPL by Merchant Ecosystem

• Open Loop System
• Closed Loop System

Thailand BNPL by Distribution Model Analysis

• Standalone
• Banks & Payment Service Providers
• Marketplaces

Thailand Buy Now Pay Later Market Share Analysis by Key Players

Thailand BNPL Analysis by Channel

• Online Channel
• POS Channel

Thailand Buy Now Pay Later in Retail Shopping: Market Size and Forecast

• Gross Merchandise Value Trend Analysis
• Average Value Per Transaction Trend Analysis
• Transaction Volume Trend Analysis

Thailand Buy Now Pay Later in Home Improvement: Market Size and Forecast

• Gross Merchandise Value Trend Analysis
• Average Value Per Transaction Trend Analysis
• Transaction Volume Trend Analysis

Thailand Buy Now Pay Later in Travel: Market Size and Forecast

• Gross Merchandise Value Trend Analysis
• Average Value per Transaction Trend Analysis
• Transaction Volume Trend Analysis

Thailand Buy Now Pay Later in Media and Entertainment: Market Size and Forecast

• Gross Merchandise Value Trend Analysis
• Average Value per Transaction Trend Analysis
• Transaction Volume Trend Analysis

Thailand Buy Now Pay Later in Services: Market Size and Forecast

• Gross Merchandise Value Trend Analysis
• Average Value Per Transaction Trend Analysis
• Transaction Volume Trend Analysis

Thailand Buy Now Pay Later in Automotive: Market Size and Forecast

• Gross Merchandise Value Trend Analysis
• Average Value Per Transaction Trend Analysis
• Transaction Volume Trend Analysis

Thailand Buy Now Pay Later in Healthcare and Wellness: Market Size and Forecast

• Gross Merchandise Value Trend Analysis
• Average Value Per Transaction Trend Analysis
• Transaction Volume Trend Analysis

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

• Gross Merchandise Value Trend Analysis
• Average Value Per Transaction Trend Analysis
• Transaction Volume Trend Analysis

Thailand Buy Now Pay Later Analysis by Consumer Attitude and Behaviour

• Sales Uplift by Product Category
• Share by Age Group
• Share by Income
• Share by Gender
• Adoption Rationale
• Monthly Expense Segments

Reasons to buy

• Insights on Strategy & Innovation: Navigate through future direction of the Buy Now Pay Later industry market by understanding strategic initiatives taken by key players to gain market share and innovation.
• In-depth Understanding of BNPL Market Dynamics in Thailand: Understand emerging opportunities and future direction of the BNPL market, key drivers, and trends. Benefit from a detailed market segmentation with 75+ KPIs.
• Value and Volume KPIs for Accurate Understanding: Value and volume key performance indicators (KPIs) help in developing an accurate understanding of market dynamics.
• Competitive Landscape: Get a snapshot of competitive landscape in BNPL sector with key players and market share in Thailand. Formulate your strategy by gaining insights into the current structure of the market.
• Develop Strategies to Gain Market Share: Create and fine tune your targeting strategy in the BNPL sector, identify growth categories and target specific segments across the value chain; evaluate important trends and risks unique to your market.
• Deeper Understanding of Consumer Behaviour: Increase ROI by understanding how consumer attitudes and behaviours are evolving. Get a detailed view on retail spending dynamics across consumer segments.