Global Buy Now Pay Later Market and Trends 2024

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from $1,750	148 Pages	yStats.com	February, 2024	YST18485267

Best Price Guarantee
Price	from $1,750
Length	148 Pages
Publisher	yStats.com
Published Date	February, 2024
SKU	YST18485267

Global Buy Now Pay Later Market and Trends 2024

Globally, Buy Now, Pay Later options were essential to some holiday shoppers affected by the inflation: new yStats.com report.

BNPL services are projected to be essential for some shoppers affected by inflation

In the U.S., the BNPL payment value is forecasted to almost double between 2022 and 2026, with the growth rate of the BNPL payment value in the country remaining positive but declining over the years. The number of BNPL users in the U.S. is also forecasted to increase by over 30 million in the same period, displaying the continuous interest in use of BNPL services. According to findings in the new yStats.com report, at the end of 2022, a double-digit share of holiday shoppers in the U.S. who said that they will be majorly or moderately affected by the inflation stated that having BNPL options was an essential to have during the holiday season. In the UK, that share reached only a single digit percentage, displaying the rising dependence on BNPL services of U.S. shoppers affected by inflation.

BNPL still fails to fit into the traditional credit scoring system in the U.S.

With the growing BNPL adoption in the U.S., credit bureaus are criticizing that the existing credit scoring models in the country are not compatible with the BNPL loan type, leading to issues in credit history collection of BNPL users, according to data cited in the new yStats.com report. As of today, major BNPL providers like Klarna, Afterpay, and others do not or only partially report their users’ transaction and account information to the national credit bureaus, even though these BNPL providers give out not only short-term, interest-free loans but also offer longer-term, interest-bearing loans that would in other cases affect credit scores.

1. Key Takeaways
2. Management Summary
3. Global Overview: BNPL Industry and Trends Overview, June 2023; Overview of BNPL Concerns and Regulations, June 2023; BNPL Market Size, in USD billion, 2022e & 2027f; Number of BNPL Users, in millions, 2022e & 2027f; Share of BNPL Accounting for Total B2C E-Commerce Transaction Value, in %, 2022; Payment Methods Used At Least 5 Times Per Month, in % of Respondents, September 2022; Market Shares of BNPL Services, in % of Top B2C E-Commerce Websites Supporting BNPL as a Payment Method, March 2023; Overview of Apple Pay Later, June 2023; Overview of Klarna’s Activities in BNPL Landscape, June 2023; Number of Klarna’s Users, in millions, & Year-on-Year Change, in %, 2019-2022; Number of Afterpay’s Active Users, in millions, & Year-on-Year Change, in %, December 2019, December 2020, December 2021, March 2022; Number of Afterpay’s Active Sellers, in thousands, & Year-on-Year Change, in %, December 2019, December 2020, December 2021, March 2022; Number of Affirms’s Active Users, in millions, & Year-on-Year Change, in %, June 2019-2022
4. North America: 4.1. Regional; Payment Methods Used At Least 5 Times Per Month, in % of Respondents, September 2022; 4.2. USA; Overview of BNPL Market and Trends, June 2023; BNPL Payment Value, in USD billion, & Year-on-Year Change, in %, 2021-2026f; BNPL Users, in millions, & Penetration, in % of Internet Users, 2021-2026f; Payment Methods Used for Online Purchases, in % of Current Apple Customers, March 2023; BNPL User Penetration, by Generation, in % of Digital Buyers, 2022e & 2026f; Share of Respondents Currently Using BNPL, in %, 2021 & 2022e; Share of Respondents Interested in Future BNPL Use, in %, 2021 & 2022e; Annual Growth of Online BNPL Purchase Share & BNPL Revenue, in % of Year-on-Year Growth, 2022 vs January-February 2023; Share of Holiday Shoppers Who Say Having Buy Now Pay Later Options Will Be Essential to Them, in %, September 2022; Share of Holiday Shoppers Who Say Having Buy Now Pay Later Options is Nice to Have But Not Essential, in %, September 2022; Attitude Towards Switching Payment Method if the Cost-of-Living Increases Significantly and New Payment Method of Choice if Switched, in %, September 2022; Breakdown of BNPL Users’ BNPL Usage Patterns, in %, August 2022; BNPL Payment Terms, by Type of Credit Card Use, in % of BNPL Users, August 2022; Share of BNPL Users Who Expect to Increase Their Use of BNPL, by Type of BNPL Users, in %, August 2022; Share of Respondents Who Trust Organizations to Provide a Secure Environment for Payments and Purchasing, in % of Respondents, September 2022; Most Valuable BNPL Reward Features, in % of BNPL Users, July 2022; Preferences of BNPL Users if BNPL Was Not Offered, in %, August 2022; Share of Adults Willing to Use BNPL Credit to Make a Purchase, by Product Category, in % of Adults, February 2022; Annual Increase of BNPL Orders, by Product Category, in %, January-February 2023; Top Reasons Non-Accepting Merchants Are Not Interested in Offering BNPL, in % of Online Merchants, 2022e; Top 3 BNPL Platforms Used, in % of BNPL Users, June 2022; 4.3. Canada; Top Reasons Non-Accepting Merchants Are Not Interested in Offering BNPL, in % of Online Merchants, 2022e; Share of Respondents Who Have Not Heard of BNPL Services Before, in %, July 2022; Share of Respondents Who Have Not Used BNPL Due to Lack of Need for It, in %, July 2022
5. Europe: 5.1. Regional; Payment Methods Used at Least 5 Times Per Month, in % of Respondents, September 2022; 5.2. UK; Share of Online Purchases Paid for Using BNPL Services, in %, January 2022 & January 2023; Top Product Categories Paid with BNPL Services in the Past 6 Months, in % of Respondents, November 2022; Share of BNPL Users That Increased BNPL Spending, by Age, in % of BNPL Users, 2022e; Share of BNPL Users That Miss Payments, by Frequency, in % of BNPL Users, 2022e; Share of BNPL Users Who Have Failed to Pay on Time, All Users vs Those Aged 18-34 in %, 2022e; Average Monthly BNPL Debt, in GBP, by Age, 2022e; Share of Holiday Shoppers Who Say Having Buy Now Pay Later Options Will Be Essential to Them, in %, September 2022; Share of Holiday Shoppers Who Say Having Buy Now Pay Later Options is Nice to Have But Not Essential, in %, September 2022; Top Reasons Non-Accepting Merchants Are Not Interested in Offering BNPL, in % of Online Merchants, 2022e; 5.3. Germany; Breakdown of B2C E-Commerce Sales by Payment Methods, incl. “Payment by Invoice” and “Installments/Financing”, in %, 2022; Payment Methods Used vs Preferred Methods for Online Payments, in % of Online Shoppers, April 2022; Share of B2C E-Commerce Websites Offering BNPL as a Payment Method, in %, 2022; Breakdown of Main Reasons Why Online Shoppers Used BNPL, in %, April 2022; 5.4. Austria; Share of Respondents Using BNPL, in %, October 2022; 5.5. Netherlands; Deferred Payment Methods Used for Online Purchases, by Top BNPL Providers, in % of Respondents, 2022e; Deferred Payment Methods Use, by Age, in % of Respondents, 2022e; Share of BNPL Users Who Were “Very Likely” to Use BNPL Again, by BNPL Providers, in % of BNPL Users, 2022e; Breakdown of Payment Deadline Handling, by Age, in % of BNPL Users, 2022e; 5.6. France; Share of Respondents Who Used BNPL to Pay for Their Internet Purchases, in %, 2022; BNPL Use, by Age, in % of Internet Users, 2022e; Share of Respondents Who Consider BNPL as an Incentive to Buy Immediately Without Postponing Their Purchase, in %, February 2022; Share of Respondents Who Believe BNPL Encourages Them to Turn to Expensive Products, in %, February 2022; 5.7. Spain; Share of Respondents Who Are Aware About BNPL vs Those Who Show Willingness to Use BNPL, in %, 2022e; 5.8. Scandinavia; Share of Consumers Who Have Used Invoice vs Instalment Payment, by Select Countries, in %, October 2022; 5.9. Sweden; Payment Methods Used vs Preferred Methods for Online Payments, in % of Online Shoppers, April 2022; 5.10. Poland; Share of Respondents Who Used BNPL to Finance Their Purchases, in %, 2022e
3. Asia-Pacific: 3.1. Regional; Share of BNPL Accounting for Total B2C E-Commerce Payments, in %, 2022 & 2026f; Payment Methods Used At Least 5 Times Per Month, in % of Respondents, September 2022; Top Product Categories Purchased on Online B2C E-Commerce Site Zalora Using BNPL, in % of BNPL Payments, Q3 2022; Breakdown of Payment Methods Used to Purchase Luxury on Online B2C E-Commerce Site Zalora, in %, 2021 & 2022; Breakdown of Payments Used on Online B2C E-Commerce Site Zalora, by Age Group, in % of Online Shoppers, Q3 2022; 3.2. China; BNPL Gross Merchandise Value, in USD billion, 2022 & 2028f; BNPL Usage, by Age, in % of Internet Users, 2022e; 3.3. Japan; Share of Respondents Using BNPL, in %, December 2022; Level of Usage of Buy Now Pay Later Services Compared to a Year Ago, in % of BNPL Users, December 2022; 3.4. Australia; BNPL Sales, in AUD billion, FY 2021 & FY 2022; Breakdown of Total Transaction Value vs Volume, in %, FY 2022; Breakdown of BNPL Revenue, by Age, in % of BNPL Users, February 2023; Type of Debt Held, incl. BNPL Loans, in % of Consumers, Q4 2022; Level of Concern/Stress Over Type Debt, by Type of Debt, incl. BNPL Loan, Q4 2022; Current Outstanding Balances on Loans in Capital City, in AUD thousand, Q4 2022; 3.5. India; BNPL Transaction Value, in USD billion, 2022e & 2026f; Number of BNPL Users, in millions, 2022e & 2027f; 3.6. Singapore; BNPL vs Credit & Debit Card Transaction Value, in SGD billion, 2021; Breakdown of BNPL User Age, in %, April 2022; Breakdown of BNPL Users Aged 25 or Older Accounting for Total BNPL Transaction Value, in %, April 2022; 3.7. Pakistan; BNPL Use, in % of Respondents, July 2022
7. Latin America: 7.1. Regional; Distribution of B2C E-Commerce Payment Methods, by Value, in USD billion, 2021-2022f & 2025f; Breakdown of Payment Methods, incl. “BNPL”, by Country, in %, 2022e; Credit Card Installments vs BNPL Volume, by Country & Usage, in USD billion, 2022; Annual Growth of BNPL, by Countries, in % of Annual Growth, 2022e; 7.2. Colombia; Share of Internet Users Who Used a Buy Now Pay Later Service Weekly, in %, Q3 2021, Q3 2022; 7.3. Brazil; Value of BNPL Payments, in USD billion, 2022-2023e; BNPL Gross Merchandise Value, in USD billion, 2022 & 2028f; Share of Internet Users Who Used a Buy Now Pay Later Service Weekly, in %, Q3 2021, Q3 2022; BNPL Merchant Acceptance Rate, in %, January 2023; 7.4. Mexico; Share of Internet Users Who Used a Buy Now Pay Later Service Weekly, in %, Q3 2021, Q3 2022; Preferred Payment Methods Likely to be Used During HOT Sale, incl. “BNPL”, in % of Buyers, April 2023; Breakdown of Buyers Who Were Aware About BNPL vs Those Who Were Aware and Used it, in %, April 2023; Share of Buyers Who Were Willing to Increase the Frequency of Purchases If Financing Without Card Was Available to Them, in %, April 2023; 7.5. Chile; Share of Internet Users Who Used a Buy Now Pay Later Service Weekly, in %, Q3 2022; 7.6. Argentina; Share of Internet Users Who Used a Buy Now Pay Later Service Weekly, in %, Q3 2021, Q3 2022
8. Middle East and Africa: 8.1. Regional; BNPL Market Size, in USD billion, 2021 & 2030f; BNPL Share of B2C E-Commerce Transaction, in %, 2021e & 2022; Breakdown of BNPL Usage, in % of Online Shoppers, 2021 & 2022; Breakdown of BNPL Usage Among Online Shoppers, by Gender, in %, 2022; Share of Respondents Who Used BNPL, in %, July 2022; Share of Respondents Who Have Not Used BNPL But Hope to Use it in the Next 12 Months, in %, July 2022; Share of Online Merchants Offering BNPL at Checkout, in %, July 2022; 8.2. Saudi Arabia; BNPL Use, in % of Respondents, February 2022; 8.3. UAE; BNPL Use, in % of Respondents, February 2022; 8.4. Egypt; BNPL Use, in % of Respondents, July 2022; Value of Fawry’s Revenue, in EGP million, 2021 & 2022; 8.5. Jordan; BNPL Use, in % of Respondents, July 2022; 8.6. Bahrain; BNPL Use, in % of Respondents, July 2022; 8.7. Kuwait; BNPL Use, in % of Respondents, July 2022; 8.8. Qatar; BNPL Use, in % of Respondents, July 2022