The total gross merchandise value of goods sold with the Buy Now Pay Later (BNPL) service amounted to SAR 8.7 billion in 2022, data compiled by the Saudi Central Bank (SAMA) showed.
The sold goods transactions were completed via advance payments at nearly SAR 4.4 billion, in addition to credit provided at SAR 4.3 billion.
The total number of merchants registered with BNPL reached nearly 28,900 in 2022, compared to 6,100 in 2021, including 22,700 e-stores.
According to the report, the total number of retail customers - 43% males and 57% females - registered with BNPL hit 10 million, up from 3 million in 2021. Nearly 58%, or 5.8 million, of those customers are active.
Retail customers registered with BNPL earning up to SAR 5,000 accounted for the lion’s share of the total clientele, reaching 63% in 2020.
According to the report, clients earning SAR 5,000-10,000 accounted for 34%, while clients earning up to SAR 5,000 dominated 30% of the total clientele.
|
Salaries of Customers Registered in BNPL |
|||
|
Salary (SAR) |
2020 |
2021 |
2022 |
|
SAR 0-5,000 |
63% |
22% |
30% |
|
SAR 5,000-10,000 |
0 % |
34 % |
34 % |
|
SAR 10,000-20,000 |
25 % |
37 % |
29 % |
|
Over 20,000 |
12 % |
7% |
7% |
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