BNPL Usage Surges Over 290% in Iran

A recent report by DigiPay on microloan payment statistics reveals that the use of Buy Now, Pay Later (BNPL) services has increased by more than 290% in the year 1403 (2024-2025) compared to the previous year.

According to the data, in just the three months of autumn 1403, DigiPay allocated 11 trillion tomans in credit to users. The company’s public relations department also stated that over 2.5 million users received credit services, including single-installment and four-installment BNPL options, as well as loans facilitated through DigiPay.

In recent years, numerous lending tech (lendtech) companies have emerged in Iran, with major players including SnappPay, Azki, and Tara. DigiPay emphasizes that collaboration and synergy among lendtech companies will be crucial for the industry’s sustainable growth in the coming years.

The transaction volume reported by DigiPay also highlights the significant impact of lendtech firms on the digital economy. The company disclosed that in autumn alone, processed transactions exceeded 55 trillion tomans. These transactions included microloans, business services, credit cards, daily fintech operations, insurance purchases, wealth management, and other financial services.

The rapid growth of BNPL and digital lending underscores the expanding role of fintech in Iran’s economy, while also raising concerns about the need for better regulatory coordination to mitigate financial risks.