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Philippines Buy Now Pay Later (BNPL) Markets and Investment


DUBLIN, February 08, 2022–(BUSINESS WIRE)–The “Philippines Buy Now Pay Later Business and Investment Opportunities – 75+ KPIs on Buy Now Pay Later Trends by End-Use Sectors, Operational KPIs, Market Share, Retail Product Dynamics, and Consumer Demographics – Q1 2022 Update” report has been added to ResearchAndMarkets.com’s offering.

According to the Q4 2021 BNPL Survey, BNPL payment in the Philippines is expected to grow by 109.7% on annual basis to reach US$ 803.5 million in 2022.

Medium to long term growth story of BNPL industry in the Philippines remains strong. The BNPL payment adoption is expected to grow steadily over the forecast period, recording a CAGR of 50.9% during 2022-2028. The BNPL Gross Merchandise Value in the country will increase from US$ 383.1 million in 2021 to reach US$ 9476.8 million by 2028.

The coronavirus pandemic has accelerated the shift towards online shopping among consumers in the Philippines. Notably, this boom in the Filipino e-commerce industry has also resulted in the widespread adoption of digital payment methods such as buy now, pay later (BNPL) payment solutions in the country. In the Philippines, consumers are increasingly looking for flexible and convenient payment solutions which allow them to manage their finances effectively.

The growing popularity of the deferred payment industry is expected to attract global BNPL players to launch their services in the Philippines from the short to medium-term perspective. This will subsequently lead to more strategic partnerships, investments, and mergers and acquisition deals in the BNPL industry.

BNPL firms are raising funds to focus on regional expansion and new product developments

In the midst of the growing demand for BNPL products in the Southeast Asia region, firms are raising fresh capital to accelerate their growth and fund regional expansion into other emerging markets.

  • In November 2021, Plentina, the Philippines-based BNPL platform, announced that the firm had raised US$2.2 million led by New York-based venture capital firm TMV. The November 2021 funding round brings the total amount raised by the firm to US$5.7 million. Plentina is planning to use the newly infused capital to accelerate its growth across the country while also exploring other emerging markets in the Southeast Asian region, such as Vietnam.

  • Along with the regional expansion, the firm is also planning to use the funding round to offer new products to its customers in the country. In 2021, the firm witnessed significant growth, wherein the app downloads have surged by 500% during the year. In 2022, the firm is also planning to launch its BNPL mobile app for iOS users, which will further boost the adoption of its BNPL product in the country.

The publisher expects more such BNPL firms to raise funds over the next four to eight quarters to further accelerate their growth in the Southeast Asian region.

BNPL firms are expanding product offering across the Philippines to expand market…


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