Global Buy Now Pay Later Market by Product (Applications, Browser Extensions), Channel (In-Store, Online), End-use - Forecast 2024-2030

The Buy Now Pay Later Market size was estimated at USD 11.66 billion in 2023, USD 14.55 billion in 2024, and is expected to grow at a CAGR of 26.50% to reach USD 60.47 billion by 2030.

Buy now, pay later (BNPL) is one of the payment choices where a customer pays for purchase over time in installments, ensuring the merchants get paid in full at the end of the installment period. This credit form limits the strains on the cash flow of users and enables them to explore customized credit plans while offering lower interest rates, late fees, and penalties. The rising use of digital & mobile-based payments owing to the proliferation of online purchases in support of the high availability of funding for the BNPL startups is the major factor expanding the market development. Declining credit approval rates and the strict government regulations for licensing the BNPL plans are restraining the adoption of BNPL services. However, with the improving awareness regarding this BNPL credit form, backed by various technological advancements focused on AI & ML, the product is expected to extend across cryptocurrency payment models and applications, creating immense opportunities for BNPL utilization.

Regional Insights

The Americas and Europe region have observed tremendous growth in the use of BNPL, owing to the presence of fintech startups exploring new aids of technology integration with BNPL services and solutions. The millennial population in the region is the most prominent user of BNPL, with the rise of bank-based BNPL services and the partnerships between BNPL firms and payment entities offering customized products for the high number of credit-acquiring users. In the Asia-Pacific, BNPL is observed to be rising, owing to the customers' shift to mobile-based credit options and few regulations surrounding these products. However, Malaysia, Australia, and Singapore are suggesting guidelines for BNPL which can help in expanding the growth of these platforms in the future. The high degree of mobile empowerment, investment in financial inclusion, and limited availability of short-term credits characterize the Asia-Pacific, along with the Middle East & Africa, as a potential center for BNPL innovation and utilization.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Buy Now Pay Later Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Buy Now Pay Later Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Buy Now Pay Later Market, highlighting leading vendors and their innovative profiles. These include ACI Worldwide, Inc., Affirm, Inc., Afterpay Limited by Block, Inc., Amazon Pay Later by Amazon.com, Inc., Amount, Inc., Apple Pay Later by Apple Inc., Apruve, Inc. by TreviPay, Bank of America Corporation, Billie GmbH, Capgemini SE, ChargeAfter, Inc., Divido Financial Services Ltd., ePayLater by Arthashastra Fintech Private Limited, Fidelity National Information Services, Inc., Finastra, Finturf, Fiserv, Inc., Flipkart Pay Later by Flipkart Internet Private Limited, Global Payments Inc., Hokodo SAS, humm BNPL Pty Ltd., JPMorgan Chase & Co., Klarna Inc., LatitudePay Australia Pty Ltd., Laybuy Australia Pty Ltd., LazyPay Private Limited by PayU Payments Private Limited, Mastercard Inc., Nucleus Software Exports Ltd., Payl8r by Social Money Ltd., PayPal, Inc., Pelican.ai, Repay Holdings, LLC, S.W.I.F.T. SC, Sezzle Inc. by Zip Co Limited, Simpl by One Sigma Technologies Private Ltd., Splitit USA Inc., Tabby FZ-LLC, Temenos Headquarters SA, Temenos SA, Visa Inc., Worldline Group S.A., ZestMoney by Camden Town Technologies Pvt Ltd., Zinia by Open Bank, S.A., and ZoodPay by OrientSwiss S.A.

Market Segmentation & Coverage

This research report categorizes the Buy Now Pay Later Market to forecast the revenues and analyze trends in each of the following sub-markets:

• Product
  • Applications
  • Browser Extensions
• Channel
  • In-Store
  • Online
• End-use
  • Education
  • Healthcare
  • Media & Entertainment
  • Retail
    • Consumer Electronics
    • Fashion & Garment
  • Travel & Hospitality

• Region
  • Americas
    • Argentina
    • Brazil
    • Canada
    • Mexico
    • United States
      • California
      • Florida
      • Illinois
      • New York
      • Ohio
      • Pennsylvania
      • Texas
  • Asia-Pacific
    • Australia
    • China
    • India
    • Indonesia
    • Japan
    • Malaysia
    • Philippines
    • Singapore
    • South Korea
    • Taiwan
    • Thailand
    • Vietnam
  • Europe, Middle East & Africa
    • Denmark
    • Egypt
    • Finland
    • France
    • Germany
    • Israel
    • Italy
    • Netherlands
    • Nigeria
    • Norway
    • Poland
    • Qatar
    • Russia
    • Saudi Arabia
    • South Africa
    • Spain
    • Sweden
    • Switzerland
    • Turkey
    • United Arab Emirates
    • United Kingdom

The report offers valuable insights on the following aspects

1. Market Penetration: It presents comprehensive information on the market provided by key players.
2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.
3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.
4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.
5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as

1. What is the market size and forecast of the Buy Now Pay Later Market?
2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Buy Now Pay Later Market?
3. What are the technology trends and regulatory frameworks in the Buy Now Pay Later Market?
4. What is the market share of the leading vendors in the Buy Now Pay Later Market?
5. Which modes and strategic moves are suitable for entering the Buy Now Pay Later Market?

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