Blog post
September 24, 2024

Buy Now, Pay Later: mapping dominant narratives and spending habits in an underbanked Southeast Asia

During a time of surging prices Buy Now, Pay Later (BNPL) has gradually transformed consumer patterns of behaviour in a largely heterogenous Southeast Asian region.

High mobile penetration has given social media access to a younger demographic that perceive BNPL as an enticing option with no accessibility issues.

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A largely rural and underbanked population became very susceptible to predatory inclusion leading to increased calls for regulation. This helped in changing the consumer perception of BNPL from ‘free money’ to ‘lent money’.

The geography and the type of manufacturers present in the region also play a huge role in the kind of commodities bought by audiences. BNPL providers work by assessing the standard of living of the population that’s largely underserved, and provide offers accordingly.

Brands, interestingly grabbed the opportunity of providing these services to consumers involving less bureaucratic processes. Therefore, consumers are stuck in the dichotomy of maintaining restraint when it comes to spending, but also having the fear of missing out when brands make everything so much more appealing.

News outlets maintain conversation around regulation and that providers’ lending processes need to be responsible and compliant, especially in an industry with an uncertain future.

Gain data-backed perspective on the top BNPL players influencing audience behaviour in the region and go beyond surface insights to understand their dominating narratives in governance, audiences and pop culture.

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