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Singapore Alternative Lending Business Market Report 2026-2029: BNPL and Embedded Finance Market Intensifies as Atome, Grab PayLater and Shopee SPayLater Compete with Bank-Led Instalment Expansion

globenewswire.com
GRAB Grab's PayLater service is mentioned as a key player in Singapore's alternative lending market, specifically within platform checkouts. The article notes this segment is a high-value acquisition surface, indicating its importance but also the competitive and evolving nature of the market.

Dublin, Feb. 19, 2026 (GLOBE NEWSWIRE) -- The "Singapore Alternative Lending Market Size & Forecast by Value and Volume Across 100+ KPIs by Type of Lending, End-User Segments, Loan Purpose, Finance Models, Distribution Channels, and Payment Instruments - Databook Q1 2026 Update" report has been added to ResearchAndMarkets.com's offering.

The alternative lending market in Singapore is expected to grow by 15.3% annually, reaching US$5.50 billion by 2026. The alternative lending market in the country has experienced robust growth during 2020-2025, achieving a CAGR of 14.5%. This upward trajectory is expected to continue, with the market forecast to grow at a CAGR of 13.3% from 2026 to 2029. By the end of 2029, the alternative lending market is projected to expand from its 2025 value of US$4.77 billion to approximately US$8.00 billion.

BNPL competition should tighten further around accredited operators and bank-aligned models as governance expectations rise and funding becomes more selective. Platform checkouts (Grab, Shopee) and digital-bank stacks will remain the highest-value acquisition surfaces, favouring providers that can integrate tightly into refunds/returns, dispute handling, and merchant operations.

The report offers in-depth segmentation across lending dimensions, including type of lending (Bank-based/NBFC and Alternative Lending), end-user segments (Retail Lending and SME/MSME Lending), and loan types. It further categorizes the alternative lending ecosystem by finance models (P2P Marketplace, Balance Sheet, Invoice Trading, Real Estate Crowdfunding, and Other Models), distribution channels (Branch/Physical, Direct Digital, and Agent/Broker), and payment instruments (Credit Transfer, Debit Card, E-Money, and Others).

In addition, the analysis captures borrower demographics by age, income, and gender, alongside delinquency performance indicators. Collectively, these datasets provide a comprehensive and quantifiable view of market size, structure, lending behavior, and risk dynamics within the lending ecosystem.

Current State of the Market

Key Players and New Entrants

Key Trends & Drivers

Pull BNPL into a supervised-style operating model

Move SME credit into platform and digital-bank ecosystems.

Tighten digital acquisition standards for lending and pay-later products.

Broaden domestic funding pathways for private credit and receivables-style strategies.

Key Attributes:

For more information about this report visit https://www.researchandmarkets.com/r/a5uuil

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