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June 1, 2022
US Buy Now, Pay Later (BNPL) Payment Value, 2021-2026 (billions and % change)
Note
Buy now, pay later (BNPL) services are defined as interest-free solutions provided by third-party payment platforms that allow consumers to purchase and finance a product or service, and pay in scheduled installments; also known as digital installments, installment lending and point-of-sale ... financing. Users are typically allowed to pay off balances in weekly, bi-weekly, or monthly installments. Failing to adhere to a predetermined payment plan will usually lead to late fees and interest charges. Consumers access these solutions at the point-of-sale (online or in-person), usually via a merchant’s website or app, via the third-party provider’s app, or via proximity mobile payment apps like Google Pay and Apple Pay. Examples include Affirm, Afterpay, Klarna, Sezzle, and PayPal’s BNPL service. Excludes services that provide a revolving line of credit, and retailer- and bank-branded financing options.More
Methodology
Estimates are based on the analysis of survey and traffic data from research firms, historical consumer adoption and buying trends, payment adoption trends, reported company data, interviews, demographic and socioeconomic factors, and macro-economic conditions.Featured In
PayPal ramps up BNPL program with monthly payment solutionThe Era of Uncertainty: Buy Now, Pay LaterBNPL providers expand installments as a service to grow though the uncertaintyBread brings virtual cards to BNPL push with Marqeta partnershipCFPB plans to tighten grip on BNPL providers, sets regulatory machinations in motionSpotlight: US Buy Now, Pay Later Forecast 2022Apple Pay Later ‘launching soon’ to shakeup BNPL industrySources
Chart Title
US Buy Now, Pay Later (BNPL) Payment Value, 2021-2026 (billions and % change)Publication Date
June 1, 2022