North America held the Largest Share of the Buy Now Pay Later BNPL Market in 2021

According to Custom Market Insights (CMI), The Global Buy Now Pay Later BNPL Market was estimated at USD 16 billion in 2021 and is anticipated to reach around USD 90 billion by 2030, growing at a CAGR of roughly 22% between 2022 and 2030. The global Buy Now Pay Later BNPL market research report offers an in-depth analysis of the global market size, further segmented into regional and country-level market size and segmentation market growth. Also, it provides market share, sales analysis, competitive landscape, the impact of domestic and global market participants, trade regulations, value chain optimization, recent key developments, strategic market growth analysis, opportunities analysis, product launches, and technological innovations.

(BNPL) Buy Now Pay Later Market(By Channel )

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Buy Now Pay Later BNPL Market: Overview

The point-of-sale financing option known as “Buy Now, Pay Later” has grown in popularity recently, particularly among younger groups. The COVID-19 epidemic exacerbated several financial stress-related issues, including late payments and lowering credit limits. Due in part to this, the widespread use of credit cards has declined over the past few years globally, making room for the emergence of alternative payment methods. As an alternative to credit cards as well as some other forms of financing, these solutions were developed to allow clients the choice to purchase their products and pay in a pre-agreed number of payments over time. In addition, the client incurs no cost because these solutions are typically offered at low or no interest rates and with no additional fees.

Browse the full “(BNPL) Buy Now Pay Later Market Size, Trends and Insights By Channel (POS, Online), By Organization Size (SMEs, Large Enterprises), By End-use (Retail, Consumer Electronics, Healthcare, Fashion & Garment, Leisure & Entertainment, Others), and By Region – Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2022–2030 “ report at ReportURL

(BNPL) Buy Now Pay Later Market (By Organization Size )

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Growth Factors

The industry is expanding as a result of factors like digitization, rising merchant adoption, rising repeat usage among younger consumers, and the entry of new firms offering BNPL services for lending. In addition, younger customers favour using BNPL services since they may purchase expensive laptops and cellphones and make payments for stationery products, among other advantages.

Financial service providers may now offer customers cutting-edge digital services due to technological improvements and the substantial increase in internet usage worldwide. For example, demand for internet banking is being driven by the growing use of mobile apps for payment transfers. Additionally, the e-commerce industry’s rapid expansion has aided fintech firms in expanding their global footprints for BNPL solutions.

More people owning smartphones and the need for better internet connectivity have driven businesses to accept payments online from clients. The BNPL platform also supports the QR-code feature, which enables users to scan the code and make the appropriate payments. However, during the projected year, it is anticipated that hefty late fees levied by BNPL service providers will impede the market growth. Credit providers and banks providing BNPL services charge the business and the client.

Segmental Overview

The buy Now Pay Later BNPL market is segmented into the channel, organization size, and end-use. Based on the track, the online channel segment is anticipated to hold the largest market share in 2021. As part of their post-pandemic revival strategies, numerous companies worldwide are forming partnerships to concentrate on the adoption of the fastest-growing online payment options, like buy now and pay later.

(BNPL) Buy Now Pay Later Market

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The global market has been further divided into Small & Medium Enterprises (SMEs) and large enterprises based on organization sizes. With more than 61.0% worldwide revenue share, the large enterprise segment led the market in 2021. As they provide customers with a convenient and reasonable payment method for buying expensive goods, large-scale businesses are widely implementing BNPL payment systems. Additionally, buyers can buy more goods because of the convenience of shopping, which boosts sales. Thus, BNPL assists large-scale businesses in notably enhancing the client experience.

Regional Overview

In 2021, North America led the buy now pay later market, contributing over 30.0% of worldwide sales. Numerous notable firms are the primary cause of the regional market expansion. Additionally, many fintech businesses in this area collaborate with entertainment businesses to provide BNPL services for booking hotels. It is one of the consumer-centric regions. Additionally, a sizable population uses the internet and smartphone applications. This is fueling the expansion of the buy now pay later market.

(BNPL) Buy Now Pay Later Market (trends by region)

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On the other hand, Asia-Pacific is anticipated to experience the quickest growth during the projection period. In Asia-Pacific, the idea of “buy now, pay later” is relatively new. According to observations, the buy now, pay later option is very common among millennials. Additionally, the region’s growing internet usage is opening up growth opportunities for deals now pay later.

Report Scope

Feature of the Report Details
Market Size in 2021 USD 16 Billion
Projected Market Size in 2030 USD 90 Billion
Market Size in 2022 USD (2022Value) Billion/Million
CAGR Growth Rate 22% CAGR
Base Year 2021
Forecast Period 2022-2030
Prominent Players Sezzle, Klarna Bank AB, Afterpay, Laybuy Group Holdings Limited, Splitit, Quadpay, Affirm Holdings Inc., PayPal Holdings Inc., Perpay, Payl8r (Social Money Ltd.), and Others
Key Segment By Channel, Organization Size, End-us, and Region
Report Coverage Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Regional Scope North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America
Buying Options Request tailored purchasing options to fulfil your requirements for research.

Key Players Insights

The BNPL market is moderately fragmented. Customers and retailers both benefit from BNPL. Leading suppliers are moving into the e-commerce ecosystem by increasing their footprints and attracting new clients. By 2025, the market for these BNPL payment apps is anticipated to grow 10-15 times, according to Bank of America Corp., owing to the increasing use of BNPL by customers to make in-person and online purchases. Many merchants are emphasizing the acceptance of these online instalment loans and point-of-sale loans as payment options, opening up new business potential for BNPL solution providers. Over the forecast period, the market is also anticipated to be driven by the expanding e-commerce sector.

  • 2022: The Central Bank of Kuwait (CBK) has allowed a new Buy Now Pay Later product to start testing by launching it in the regional market within the Regulatory Sandbox with a group of willing customers and merchants to thoroughly assess and evaluate the product. The CBK is keen to facilitate advanced financial technologies and strengthen its role in adopting and driving innovation.
  • 2022: Customers are encouraged to use the Klarna app to purchase now and pay later at B&M, one of the UK’s fastest-growing variety retailers. It implies that customers can buy using the BNPL app at the register and pay for it over three interest-free payments.

Prominent Players

  • Sezzle
  • Klarna Bank AB
  • Afterpay
  • Laybuy Group Holdings Limited
  • Splitit
  • Quadpay
  • Affirm Holdings Inc.
  • PayPal Holdings Inc.
  • Perpay
  • Payl8r (Social Money Ltd.)

The global Buy Now Pay Later (BNPL) market is segmented as follows:

By Channel

  • POS
  • Online

By Organization Size

  • SMEs
  • Large Enterprises

By End-use

  • Retail
  • Consumer Electronics
  • Healthcare
  • Fashion & Garment
  • Leisure & Entertainment
  • Others

On the basis of Geography

North America

  • The U.S.
  • Canada
  • Mexico


  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe

Asia Pacific

  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of Asia Pacific

The Middle East & Africa

  • Saudi Arabia
  • UAE
  • Egypt
  • Kuwait
  • South Africa
  • Rest of the Middle East & Africa

Latin America

  • Brazil
  • Argentina
  • Rest of Latin America