According to the Q2 2021 Buy Now Pay Later (BNPL) Survey, the BNPL payment industry in Kenya has recorded strong growth over the last four quarters, supported by increased e-commerce penetration along with the impact of economic slowdown due to disruption caused by the Covid-19 outbreak.
BNPL payment in Kenya is expected to grow by 74.1pc on annual basis to reach US$ 89.8 million in 2021.
The medium to long-term growth story of BNPL industry in Kenya remains strong. The BNPL payment adoption is expected to grow steadily over the forecast period, recording a CAGR of 30.8% during 2021-2028. The BNPL Gross Merchandise Value in the country will increase from US$ 51.6 million in 2020 to reach US$ 589.5 million by 2028.
Kenya Buy Now Pay Later Key Players
- Aspira – Aspira helps Kenyans live their best life today, by enabling them to buy their dream products now and pay later in easy monthly installments!
- Lipa Later– Lipa Later allows you to own and have unrestricted use of what you want while you pay for it in affordable and flexible monthly installments by partnering with your favorite stores in Kenya, Nigeria, Uganda and Rwanda.
- Flexpay Technologies –
- Julla – Julla is a PoS financing startup that has just been launched in Kenya to enable users to pay for items on a later date.