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Artificial Intelligence

The Malaysia BNPL Market is expected to contribute ~$3.0 Bn by 2027F owing to Entry of Global Players, Partnerships and Changing Demographics: Ken Research

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Malaysia BNPL Market is at growing stage and has a consolidated market with about 5-6 major players capturing large portion of the market. Atome is the market leader.

  • The population of Malaysia is becoming more tech-savvy which will drive the adoption of technology and hence, BNPL services in the country.
  • E-commerce will continue to drive the majority of revenue for BNPL industry due to increasing popularity of E-Commerce among the population.
  • Central and Eastern Malaysia will continue to attract more investment with Pahang aiming to become leading state in business activity and Selangor attracting more investors by having highly skilled labor.

Entry of Global BNPL PlayersThe Malaysian BNPL industry has become one of the most attractive markets in the Southeast Asian region. As a result, global BNPL platforms are considering to extend their product offerings for consumers in the country. In Singapore and Malaysia alone, the firm is expecting the BNPL market to grow significantly by 2025. In these two Southeast Asian countries, the firm is looking at the target market for bigger ticket installment plans. Notably, in New Zealand and Australia, the firm has partnered with 5,000 merchants.

Emerging New Players: Malaysian BNPL Market is expected to grow over the coming years and thus, new players are entering the market intending to gain market share in the already competitive but growing BNPL industry. Shop Back Pay Later, the BNPL feature, integrates the services of Hoolah acquired by firm in 2021. The entry of these new players into the BNPL sector is expected to further drive competition and innovation in Malaysia and assist in the growth of the market.

E-Commerce driving market: E-commerce will continue to drive the majority of revenue for BNPL industry due to increasing popularity of E-Commerce among the population. As more vendors adopt BNPL services, it will lead to increase in traction for BNPL Players in E-Commerce earning them more revenues. Rise of new segments like Automotive, Insurance etc. will reduce the share of E-commerce in BNPL.

Analysts at Ken Research in their latest publication Malaysia BNPL Market Outlook to 2027F- Driven by Digitalization, Rising Tech-Savvy Population, Increasing M&A Deals, Partnerships between BNPL players by Ken Research observed that BNPL Market is an emergent BNPL Market in Malaysia at a growing stage from the economic crisis after pandemic. The Entry of Global BNPL Players, Strategic Partnerships along with government initiatives is expected to contribute to the market growth over the forecast period. The market is expected to grow at a 38.5% CAGR during 2022-2027F owing to the rise in economy of the country, increasing young population and new government policies.

Key Segments Covered in the report:-

Malaysia BNPL Market

By Mode Of Payment

  • Online
  • Offline

By End-users

  • E-Commerce Retail
  • Consumer Electronics
  • Food Aggregators
  • Travel Aggregators
  • Others

To learn more about this report Download a Free Sample Report

By Geography

  • Kuala Lumpur
  • Selangor
  • Sabah
  • Sarawak
  • Others

By Age Group

  • 18-30
  • 30-40
  • 40-50
  • Above 50

Key Target Audience:-

  • Bankers and associations
  • Government associations
  • Corporates
  • Investment firms
  • Government Bodies & Regulating Authorities
  • Fintech companies
  • Venture capitalists

Time Period Captured in the Report:-

  • · Historical Period: 2019-2022P
  • · Base Year: 2022P
  • · Forecast Period: 2022P-2027F

Visit this Link :- Request for custom report

Companies Covered:-

  • Atome
  • MY IOU
  • Shopback
  • Split
  • Grab’s Pay Later
  • Pace

Key Topics Covered in the Report:-

  • Global Overview of Buy Now Pay Later Industry
  • Ecosystem and Value Chain of Malaysia BNPL Market
  • Market Size of Buy Now Pay Later Industry in Malaysia
  • Market Segmentation of Buy Now Pay Later Industry in Malaysia
  • SWOT Analysis and Growth Drivers of Malaysia BNPL Market
  • Trends and Challenges of Malaysia BNPL Market
  • Demand Side Analysis and Supply Side Analysis
  • Competition Framework of Malaysia BNPL Market
  • Future Outlook of Future Outlook
  • Case Study and Analyst Recommendations

For more insights on the market intelligence, refer to below link:-

Malaysia Buy Now Pay Later Market

Related Reports By Ken Research:-

South Africa Buy Now Pay Later Market Outlook to 2027F– Driven by digitalization, government support, increasing working age population, with upsurge in Gen-Z & millennials population coupled with shifting preference towards easy interest free extra credit line sources

Buy Now Pay Later industry in South Africa is estimated to generate a revenue of USD 1569 Million in 2027E, expanding at a CAGR of double digits in between 2022P and 2027E Increasing demand for extra credit line with less stringent KYC procedures without relying on CIBIL scores will be traction for consumers for utilization of BNPL services. Retailers as end user will witness upsurge in revenue contribution to 80% of the market share as more retailers will be coming forward to incorporate the BNPL services in their online and offline store to increase consumer base by collaborating with BNPL players.

KSA Buy Now Pay Later Market Outlook to 2027- Driven by digitalization, government support as a part of Saudi vision 2030 increasing Genz & millennials population due to influx of expatriates coupled with shifting preference towards easy interest free extra credit line sources

The KSA BNPL industry is estimated to expand at a CAGR of ~xx% in between 2022P and 2027E on the basis of number of transactions done. Increasing adoption of cashless society with emergence of digital payments fueled by surging working age class will derive the traction of BNPL industry among the users in KSA Increasing demand for extra credit line with less stringent KYC procedures without relying on CIBIL scores will be traction for consumers for utilization of BNPL services. Average order value of BNPL transactions is estimated to expand at a CAGR of xx% in between 2022P and 2027E. A gradual increase in the contribution of below 24 years of age group in market share will be observed in the coming future. This is attributed to increasing GenZ and millennials who will be readily adopting BNPL as the mode of their transactions. Online mode of payment will continue to dominate the BNPL industry in KSA due to Sharia compliant which promotes digital payments when compared to offline mode.

UAE Buy Now Pay Later Industry Outlook to 2027: Driven by adoption of cashless society, increasing Genz & Millennials population coupled with shifting preference towards easy interest free extra credit line sources

UAE BNPL market is expected to expand with a single digit CAGR in between 2022 and 2027 on the basis of revenue generated. It is anticipated that BNPL industry will grow at a substantial rate owing to factors such as due to wider acceptability at shops and better product offerings in a competitive landscape in the coming years. UAE has been culturally conservative towards BNPL and it is always seen as a debt trap instrument. But new-age start-ups are very focused on changing this mentality by creating awareness about how BNPL can be used for daily expenditure. Many new FinTechs will be entering the UAE BNPL space by offering BNPL cards to individuals and corporates. All the BNPL Players in this space are trying to attract customers through their digital offerings and will witness significant growth in new BNPL customers in the coming years. BNPL Players are also focusing on bringing out co-branded cards with features and rewards dedicated to a segment. Some global players are providing best-in-class BNPL solutions with the latest mobile application features such as digital onboarding, enhanced UX/UI, single click payment, QR, token-based payments, dispute resolution, in-app support and spend analysis. Traditional players need to take a cue from these players to enhance their offerings in the coming future. Players in this sector need to focus more on building the omnichannel ecosystem to cater to both the offline and online market.

India Buy Now Pay Later Market Outlook to 2026: Cascading Growth driven by one-click payment ease, unmatched expediency among lending solutions and free of cost deferment of payments, coupled with rising adoption by Merchant Payments due to increase in Customer Conversion and Sales Value

The Used Buy Now Pay later Market in India is anticipated to grow with the growing adoption of smart phones and internet penetration, credit demand unfulfilled by credit cards, and convenience offered by BNPL platforms. Over the forecast period FY’22-FY’26, the India Buy Now Pay Later Market is further anticipated to showcase an upward trend in terms of Gross Merchandise Value (“GMV”) and average ticket size, much faster than the earlier years, with the market consistently expanding. Expected RBI regulations are expected to make the market more secure for customers as well.

Artificial Intelligence

Zetrix and Beitou Launch Digital ID & Driver’s Licence Services on Blockchain

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Service is the first global W3C-compliant Verifiable Credential implementation and will be initially used by China domestic users travelling abroad
KUALA LUMPUR, Malaysia, Dec. 10, 2023 /PRNewswire/ — Zetrix, a layer 1 public blockchain platform, today announced the launch of its groundbreaking Digital Credentials platform, ushering in a new era of secure, convenient, and interoperable credentials verification. This innovative solution addresses the challenges of traditional paper-based credentials, offering a range of benefits that will transform the way individuals, organisations, and governments interact in the digital realm.

The launch marks the commercialisation of the collaboration announced on 18th September 2023 between Malaysia’s MY E.G. Services Berhad and China’s state-owned Guangxi Beitou IT Innovation Technology Investment Group Co Ltd (“Beitou”), the IT arm of Guangxi Beibu Gulf Investment Group listed as one of China’s Top 500 enterprises.
The launch was held on 9th December 2023 at Ritz-Carlton Hotel Kuala Lumpur and officiated by Malaysia’s Deputy Prime Minister, Datuk Seri Dr Ahmad Zahid Hamidi.
The service initially will be offered to domestic China nationals who can choose to digitise their National ID or driving licence as a Verifiable Credential (“VC”) on Xinghuo International, the international gateway for China’s national Public Blockchain. Through Zetrix, which is integrated with Xinghuo, the National ID or driving licence VC can then be presented abroad to be authenticated by any verifier wishing to verify the relevant identity or driving licence data according to their needs.
Beitou IT’s integration to China’s nationwide police and transport department databases ensures seamless authentication and digitisation of the documents into VCs.
Furthermore, in view of the immutability of blockchain, verifiers will have the assurance of knowing that the VCs and all data contained in the document are true and genuine.
It is foreseen that besides IDs and driving licences, other important credential documents held by individuals or businesses would also be digitised as VCs in the near future. 
Enhancing Security and Combating Breach of Data
The use of digital credentials, with the initial pilot of driving licences based on blockchain technology will significantly enhance security and combat counterfeiting of electronic licences. By leveraging on the Self Sovereign Identity (“SSI”) framework, Zetrix’s Digital Credentials platform enables the real time verification of documents digitised as Verifiable Credentials, providing a robust defence against fraud and forgery.
“In addition to ensuring authenticity, documents digitised as Verifiable Credentials offer the ability for selective disclosure or confirmation of data. For instance, document holders can have their age or their home location verified without actually having to provide their date of birth or full address. This is extremely useful as it protects raw user data from being shared unless absolutely necessary, thus reducing the possibilities of cyber attacks,” explained TS Wong, founder of Zetrix.
Lai Shuiping, Chairman of the Board of Guangxi Beitou IT Innovation Investment Group Co.,Ltd, Lai Shuiping, said: “The China-ASEAN digital driving license cross-border verification platform is jointly developed by Beitou IT and MYEG. The platform will continue to expand into providing more convenient services for communication between citizens of China and ASEAN countries, and promote economic development across the entire region.”
“In future, Beitou IT will further strengthen cooperation with Malaysian enterprises in the field of transportation digitalisation, and promote continuous improvement of intelligent transportation in ASEAN countries,” Lai added.
Multi-Chain e-Wallet for International Travelers
Zetrix’s Digital Credentials platform also leverages a multi-chain e-wallet that is able to store Zetrix’s native tokens as well as VCs from Xinghuo International and Ethereum. This feature facilitates seamless cross chain transactions and simplifies identity and document verification across multiple scenarios, enhancing the experience for travelling individuals.
The digital credentials service exemplifies the World Wide Web Consortium (W3C) standards of Verifiable Credentials and Decentralised Identifiers as Self-Sovereign Identity. This will be a key catalyst to enable a greater interoperability across blockchains and decentralised applications.
About Zetrix
Zetrix is a layer-1 public blockchain that facilitates smart contracts and delivers privacy, security and scalability. Zetrix’s cryptographic infrastructure can be introduced to multiple industries to connect governments, businesses and their citizens to a global blockchain-based economy. Developed by MY E.G. Services Bhd, the cross-border and cross-chain integration with China enables Zetrix to serve as a blockchain gateway that facilitates global trade by deploying critical building blocks for Web3 services such as Blockchain-based Identifiers (BID) and Verifiable Credentials (VC).
About Guangxi Beitou IT Innovation Technology Investment Group Co Ltd 
Guangxi Beitou IT Innovation Investment Group Co. (Beitou IT) stands as a wholly owned subsidiary of Beibu Gulf Investment Group (Beitou Group), boasting total assets exceeding 300 billion RMB. Established in October 2020 with a registered capital of 1 billion RMB, Beitou IT has emerged as the foremost digital company in Southwest China. Beitou IT strategically concentrates on four primary business domains: ITAI project implementation and operation, IT product R&D, integration and sales, and the development of New Infrastructure. Over the past three years, Beitou IT has successfully undertaken numerous government and enterprise-level projects encompassing digital government, digital transportation, digital port, smart court, and enterprise digitalization.
With a workforce exceeding 400 employees, Beitou IT houses a team of hardware and software engineers, where over 50% hold master’s degrees from esteemed universities. The team includes 2 State Council-subsidized experts, numerous district industrial authorized experts, and a Fin-Tech expert from the ‘Hong Kong, Macao, and Taiwan Talent Project.’ This robust talent pool positions Beitou IT as one of the rare state-owned digital companies capable of independent R&D.
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Artificial Intelligence

Sustainability Empowerment, Brand Upgrade VIVOTEK among Taiwan’s Best Global Brands

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TAIPEI, Dec. 10, 2023 /PRNewswire/ — VIVOTEK (3454TW), the global leading IP surveillance solution provider, has been selected to the Best Taiwan Global Brands, and consistently earned market recognition. The three development engines of operational excellence, comprehensive brand management, and active promotion of sustainable actions, have elevated the brand above competition to display outstanding brand value.

Best Taiwan Global Brands is organized by the Industrial Development Bureau, MOEA, and valuation is carried out by Interbrand, a global authority on brand valuation; this year, ESG was also included as key standards of valuation. In 2022, VIVOTEK set a record high in revenue with annual consolidated revenue reaching USD $332 million, achieving a growth rate of 82% compared to the same period in 2021. In addition to displaying operational strengths, VIVOTEK also advocated several sustainable actions, while also encouraging its employees to practice environmental protection both at work and in daily life, further earning the approval of the organizer.
“Being selected to Taiwan’s Best Global Brands is a recognition of the company’s strengths,” pointed out Allen Hsieh, VIVOTEK Spokesperson and Director of Global Marketing Division. “Brand power is not just manifested through the technical aspect of products, but also through the CSR aspect. By embedding ESG into our brand’s DNA, we not only adopt sustainable thinking, but also create a differentiated brand image. In the future, VIVOTEK will continue to empower our brand through ESG, while also constantly promoting smart and green innovations of security and protection technology, steering the brand towards greater value of sustainable development.”
Evolution of the brand is the firm starting point of VIVOTEK’s brand management. Through redefining identity and slogan, “We Get The Picture,” VIVOTEK breaks the limitations of the industry to redefine its brand value, establishing its unique status within the security and protection industry. By grasping the opportunity of technical innovation, VIVOTEK combines its hardware advantage and software capability to expand its deployment of security and protection solutions, becoming a leading solution provider, while also actively exploring the market of AI security and protection, such as: successfully launching innovative VORTEX smart cloud surveillance service that focuses on customer needs and accumulating many successful cases around the world. Recently, VIVOTEK was ranked number 12 among a&s Security 50, reaching the highest spot ever, and this is the very manifestation of the brand’s continued improvement of brand competitiveness.
VIVOTEK is a leading surveillance brand that strives for sustainability and began deploying ESG strategy many years ago. Key measures include voluntary publication of sustainability report for six consecutive years, participation in the RE100 global corporate renewable energy initiative, and promotion of renewable energy applications. More recently, VIVOTEK has incorporated the principle of sustainability into its product box design, reutilizing packaging of its products to create eco-friendly smartphone holders. This marks the first time the brand’s innovative sustainability principle has been extended through its products. VIVOTEK also plans to launch a product carbon footprint project in 2024 to facilitate formulation of comprehensive carbon reduction strategy, further strengthening brand development and upgrading sustainable operations.
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Artificial Intelligence

Belgian Commitment to Partnership Supports a New Frontier of Europe-US Space Research

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BRUSSELS, Dec. 10, 2023 /PRNewswire/ — Belgian Prime Minister Alexander De Croo has travelled to Houston, United States, to meet Raphaël Liégeois, the Belgian career astronaut selected as part of the European Space Agency (ESA) astronaut class of 2022. De Croo’s visit coincides with the ESA cohort’s familiarisation trip to NASA’s Johnson Space Centre, which is the precursor to a further two years of training, delivered in Houston, to prepare the astronauts for their respective missions on the International Space Station. The visit signals a new phase of the long-standing collaboration between Europe and the United States on space research and exemplifies Belgium’s commitment to partnerships in facing global challenges.

Belgium’s expertise in aerospace, and in science more generally, is internationally recognised – in terms of both training and industry. Belgium is a founding member of the ESA and its fifth-largest funder. The country’s support of the ESA shows its commitment to shaping the development of Europe’s space capability and ensuring that investment in space continues to deliver benefits to the citizens of Europe and the world.
“For Belgians, the sky isn’t the limit, the universe is,” said De Croo. “Today, we are very proud to see Raphaël take this important step in his career as an astronaut. He will be an important role model for many generations of STEM students to come. Space research and innovation hold particular importance for Belgium; they are powerful economic drivers which foster the growth of high-tech industries and create jobs – as evidenced by the number of Belgian companies on the cutting edge of aeronautics.” 
The 17 members of the ESA astronaut class of 2022 were selected from a pool of over 23,000 applicants. The process, designed to bring together the finest scientific minds that Europe has to offer, took place over a period lasting 18 months.
The selection of Raphaël Liégeois is testament to Belgium’s focus on embracing openness, driven by innovation, partnerships, and diversity, to create solutions that drive progress for all.
About Belgium
Located in the heart of Europe, Belgium is one of the most open economies in the world, counting 11.5 million people with a reputation for innovation, hard work, partnership, and multilingualism. Strategically located between Germany, the Netherlands, France, and Luxembourg, and only a stone’s throw from the UK, it lies at the centre of the richest and most densely populated area in Europe. A member of the European Union, Belgium enjoys full access to the world’s most advanced single market and customs zone which ensures extensive frictionless trade.
Belgium boasts a highly developed transport infrastructure, including the second largest seaport in Europe (Antwerp). Belgium is home to world-leading research and innovation facilities, multinational corporations, and artisanal businesses supported by the investor-centric approach of public services.
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