US Buy Now, Pay Later Service Users and Penetration

Timeframe20222023202420252026
Buy now, pay later service users (millions)Maximum of two rows can be charted.
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– % changeMaximum of two rows can be charted.
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– % of digital buyersMaximum of two rows can be charted.
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– % of populationMaximum of two rows can be charted.
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– % of internet usersMaximum of two rows can be charted.
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Source: eMarketer

Note: ages 14+; internet users who have accessed a buy now, pay later account digitally and have made a payment toward a purchase at least once in the past year; includes purchases of goods and services

Additional Note: Buy now, pay later (BNPL) services are defined as installment loan 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. Loan options include no-interest loans, as well as interest-based loans generally up to 18 months in duration. 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. The solutions are integrated into shopping apps with financing options. Examples include Affirm, Afterpay, Klarna, Zip and PayPal’s BNPL service. These solutions do not require the use of a debit card or credit card to make a purchase. Excludes services that provide a revolving line of credit, retailer-branded financing options, closed-loop marketplace financing services and card-linked installment services, as well as options that do not allow consumers to access the solution via a BNPL/shopping app.

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.

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