The primary factor for the market growth is rapidly increasing e-commerce sector in the region. Furthermore, due to COVID 19 pandemic, cashless transaction has sharply increased in the region which resulted into high funding for key market players. For instance, in June 2020, Tabby a UAE-based buy now pay later company, received investment of around US$ 7 million.
Major players operating in the MENA and CIS Buy Now Pay Later Platform market include Afterpay, Holdings Inc., Klarna Bank AB, Laybuy Group Holdings Limited, Payl8r (Social Money Ltd.), PayPal Holdings Inc., Perpay, Quadpay, Sezzl, Splitit.
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