This report describes and explains the buy now pay later market and covers 2019-2024, termed the historic period, and 2024-2029, 2034F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.
The global buy now pay later market reached a value of nearly $231.5 billion in 2024, having grown at a compound annual growth rate (CAGR) of 46.72% since 2019. The market is expected to grow from $231.5 billion in 2024 to $1.43 trillion in 2029 at a rate of 44.10%. The market is then expected to grow at a CAGR of 40.57% from 2029 and reach $7.89 trillion in 2034.
Growth in the historic period resulted from the growth of contactless and digital payments, growth in government initiative., growing banking infrastructure development and rising investment in fintech startups. Factors that negatively affected growth in the historic period were regulatory scrutiny and consumer protection concerns and lack of awareness of BNPL late payment fees.
Going forward, the growing e-commerce industry, rising smartphone usage and internet penetration, rise in integration of artificial intelligence and machine learning and rise of digital wallets will drive the growth. Factors that could hinder the growth of the buy now pay later market in the future include cybersecurity and fraud risks and rising default rates.
North America was the largest region in the buy now pay later market, accounting for 35.74% or $82.75 billion of the total in 2024. It was followed by Western Europe, Asia-Pacific and then the other regions. Going forward, the fastest-growing regions in the buy now pay later market will be Middle East and South America where growth will be at CAGRs of 46.38% and 45.21% respectively. These will be followed by North America and Africa where the markets are expected to grow at CAGRs of 44.95% and 44.84% respectively.
The global buy now pay later market is highly fragmented, with a large number of small players in the market. The top ten competitors in the market made up to 4.41% of the total market in 2023. Block, Inc was the largest competitor with a 1.90% share of the market, followed by Affirm Holdings Inc. with 1.04%, PayPal Holdings Inc. with 0.57%, Klarna Bank AB with 0.21%, Mastercard Incorporated with 0.16%, PayU with 0.14%, Shop Pay Installments (Shopify Inc.) with 0.11%, Sezzle with 0.102%, Latitude Group Holdings Limited with 0.098% and Visa Inc. with 0.07%.
The buy now pay later market is segmented by channel into online and POS. The online market was the largest segment of the buy now pay later market segmented by channel, accounting for 98.25% or $227.44 billion of the total in 2024. Going forward, the POS segment is expected to be the fastest growing segment in the buy now pay later market segmented by channel, at a CAGR of 48.44% during 2024-2029.
The buy now pay later market is segmented by application into consumer electronics, fashion and garment, healthcare, leisure and entertainment, retail and other end-uses. The consumer electronics market was the largest segment of the buy now pay later market segmented by application, accounting for 39.05% or $90.41 billion of the total in 2024. Going forward, the healthcare segment is expected to be the fastest growing segment in the buy now pay later market segmented by application, at a CAGR of 51.36% during 2024-2029.
The buy now pay later market is segmented by enterprise size into large enterprises and small and medium enterprises. The large enterprises market was the largest segment of the buy now pay later market segmented by enterprise size, accounting for 73.38% or $169.88 billion of the total in 2024. Going forward, the small and medium enterprises segment is expected to be the fastest growing segment in the buy now pay later market segmented by enterprise size, at a CAGR of 46.35% during 2024-2029.
The top opportunities in the buy now pay later markets segmented by channel will arise in the online segment, which will gain $1.18 trillion of global annual sales by 2029. The top opportunities in the buy now pay later markets segmented by enterprise size will arise in the large enterprises segment, which will gain $855.08 billion of global annual sales by 2029. The top opportunities in the buy now pay later markets segmented by application will arise in the consumer electronics segment, which will gain $464.63 billion of global annual sales by 2029. The buy now pay later market size will gain the most in the USA at $390.22 billion.
Market-trend-based strategies for the buy now pay later market include use of AI-powered buy now pay later (BNPL) services for providing user-friendly experience, collaborations redefining the future of buy now pay later services, revolutionizing B2B payments with flexible installment solutions, integration with cloud based payment solutions to improve operational efficiency and new strategic partnership enhances BNPL offerings for multinational corporations.
Player-adopted strategies in the buy now pay later market include focus on expanding business capabilities through strategic acquisitions, business operations through strategic collaborations and partnerships and operational capabilities through the launch of new solutions.
To take advantage of the opportunities, the analyst recommends the buy now pay later focus on AI integration for enhanced service and efficiency, focus on collaborations to integrate complementary services, focus on b2b payment flexibility to target sme market, focus on developing cloud-based integrated payment solutions, expand in emerging markets, continue to focus on developed markets, focus on expanding strategic partnerships and collaborations, focus on competitive pricing strategies for buy now pay later companies, focus on digital engagement and targeted marketing, focus on customer education and trust-building, focus on targeting healthcare end-users in bnpl.
The global buy now pay later market reached a value of nearly $231.5 billion in 2024, having grown at a compound annual growth rate (CAGR) of 46.72% since 2019. The market is expected to grow from $231.5 billion in 2024 to $1.43 trillion in 2029 at a rate of 44.10%. The market is then expected to grow at a CAGR of 40.57% from 2029 and reach $7.89 trillion in 2034.
Growth in the historic period resulted from the growth of contactless and digital payments, growth in government initiative., growing banking infrastructure development and rising investment in fintech startups. Factors that negatively affected growth in the historic period were regulatory scrutiny and consumer protection concerns and lack of awareness of BNPL late payment fees.
Going forward, the growing e-commerce industry, rising smartphone usage and internet penetration, rise in integration of artificial intelligence and machine learning and rise of digital wallets will drive the growth. Factors that could hinder the growth of the buy now pay later market in the future include cybersecurity and fraud risks and rising default rates.
North America was the largest region in the buy now pay later market, accounting for 35.74% or $82.75 billion of the total in 2024. It was followed by Western Europe, Asia-Pacific and then the other regions. Going forward, the fastest-growing regions in the buy now pay later market will be Middle East and South America where growth will be at CAGRs of 46.38% and 45.21% respectively. These will be followed by North America and Africa where the markets are expected to grow at CAGRs of 44.95% and 44.84% respectively.
The global buy now pay later market is highly fragmented, with a large number of small players in the market. The top ten competitors in the market made up to 4.41% of the total market in 2023. Block, Inc was the largest competitor with a 1.90% share of the market, followed by Affirm Holdings Inc. with 1.04%, PayPal Holdings Inc. with 0.57%, Klarna Bank AB with 0.21%, Mastercard Incorporated with 0.16%, PayU with 0.14%, Shop Pay Installments (Shopify Inc.) with 0.11%, Sezzle with 0.102%, Latitude Group Holdings Limited with 0.098% and Visa Inc. with 0.07%.
The buy now pay later market is segmented by channel into online and POS. The online market was the largest segment of the buy now pay later market segmented by channel, accounting for 98.25% or $227.44 billion of the total in 2024. Going forward, the POS segment is expected to be the fastest growing segment in the buy now pay later market segmented by channel, at a CAGR of 48.44% during 2024-2029.
The buy now pay later market is segmented by application into consumer electronics, fashion and garment, healthcare, leisure and entertainment, retail and other end-uses. The consumer electronics market was the largest segment of the buy now pay later market segmented by application, accounting for 39.05% or $90.41 billion of the total in 2024. Going forward, the healthcare segment is expected to be the fastest growing segment in the buy now pay later market segmented by application, at a CAGR of 51.36% during 2024-2029.
The buy now pay later market is segmented by enterprise size into large enterprises and small and medium enterprises. The large enterprises market was the largest segment of the buy now pay later market segmented by enterprise size, accounting for 73.38% or $169.88 billion of the total in 2024. Going forward, the small and medium enterprises segment is expected to be the fastest growing segment in the buy now pay later market segmented by enterprise size, at a CAGR of 46.35% during 2024-2029.
The top opportunities in the buy now pay later markets segmented by channel will arise in the online segment, which will gain $1.18 trillion of global annual sales by 2029. The top opportunities in the buy now pay later markets segmented by enterprise size will arise in the large enterprises segment, which will gain $855.08 billion of global annual sales by 2029. The top opportunities in the buy now pay later markets segmented by application will arise in the consumer electronics segment, which will gain $464.63 billion of global annual sales by 2029. The buy now pay later market size will gain the most in the USA at $390.22 billion.
Market-trend-based strategies for the buy now pay later market include use of AI-powered buy now pay later (BNPL) services for providing user-friendly experience, collaborations redefining the future of buy now pay later services, revolutionizing B2B payments with flexible installment solutions, integration with cloud based payment solutions to improve operational efficiency and new strategic partnership enhances BNPL offerings for multinational corporations.
Player-adopted strategies in the buy now pay later market include focus on expanding business capabilities through strategic acquisitions, business operations through strategic collaborations and partnerships and operational capabilities through the launch of new solutions.
To take advantage of the opportunities, the analyst recommends the buy now pay later focus on AI integration for enhanced service and efficiency, focus on collaborations to integrate complementary services, focus on b2b payment flexibility to target sme market, focus on developing cloud-based integrated payment solutions, expand in emerging markets, continue to focus on developed markets, focus on expanding strategic partnerships and collaborations, focus on competitive pricing strategies for buy now pay later companies, focus on digital engagement and targeted marketing, focus on customer education and trust-building, focus on targeting healthcare end-users in bnpl.
Major Market Trends
- Use of AI-Powered BNPL Services for Providing User-Friendly Experience
- Collaborations Redefining the Future of Buy Now Pay Later Services
- Revolutionizing B2B Payments with Flexible Installment Solutions
- Integration With Cloud Based Payment Solutions to Improve Operational Efficiency
- New Strategic Partnership Enhances BNPL Offerings for Multinational Corporations
Key Mergers and Acquisitions
- Super.money Acquired BharatX
- DMI Finance Acquired ZestMoney
- Upgrade Acquired Uplift
- Zip Acquired Sezzle
- Block Inc. Acquired Afterpay Limited
Table of Contents
1 Executive Summary
6 Market Characteristics
7 Major Market Trends
8 Global Buy Now Pay Later Growth Analysis and Strategic Analysis Framework
9 Global Buy Now Pay Later Market Segmentation
10 Buy Now Pay Later Market, Regional and Country Analysis
11 Asia-Pacific Market
12 Western Europe Market
13 Eastern Europe Market
14 North America Market
15 South America Market
16 Middle East Market
17 Africa Market
18 Competitive Landscape and Company Profiles
19 Other Major and Innovative Companies
22 Key Mergers and Acquisitions
23 Recent Developments in the Buy Now Pay Later Market
24 Opportunities and Strategies
25 Buy Now Pay Later Market, Conclusions and Recommendations
26 Appendix
Executive Summary
Buy Now Pay Later Market Opportunities and Strategies to 2034 provides the strategists; marketers and senior management with the critical information they need to assess the global buy now pay later market.Reasons to Purchase
- Gain a truly global perspective with the most comprehensive report available on this market covering 15 geographies.
- Understand how the market is being affected by the coronavirus and how it is likely to emerge and grow as the impact of the virus abates.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market research findings.
- Benchmark performance against key competitors.
- Utilize the relationships between key data sets for superior strategizing.
- Suitable for supporting your internal and external presentations with reliable high-quality data and analysis.
Description
Where is the largest and fastest-growing market for buy now pay later? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The buy now pay later market global report answers all these questions and many more.The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market’s history and forecasts market growth by geography. It places the market within the context of the wider buy now pay later market; and compares it with other markets.
The report covers the following chapters
- Introduction and Market Characteristics - Brief introduction to the segmentations covered in the market, definitions and explanations about the segment by channel, by enterprise size and by end-use.
- Key Trends - Highlights the major trends shaping the global market. This section also highlights likely future developments in the market.
- Growth Analysis and Strategic Analysis Framework - Analysis on PESTEL, end use industries, market growth rate, global historic (2019-2024) and forecast (2024-2029, 2034F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods, forecast growth contributors and total addressable market (TAM).
- Global Market Size and Growth - Global historic (2019-2024) and forecast (2024-2029, 2034F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods.
- Regional and Country Analysis - Historic (2019-2024) and forecast (2024-2029, 2034F) market values and growth and market share comparison by region and country.
- Market Segmentation - Contains the market values (2019-2024) (2024-2029, 2034F) and analysis for each segment by channel, by enterprise size and by end-use in the market. Historic (2019-2024) and forecast (2024-2029) and (2029-2034) market values and growth and market share comparison by region market.
- Regional Market Size and Growth - Regional market size (2024), historic (2019-2024) and forecast (2024-2029, 2034F) market values and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region.
- Competitive Landscape - Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.
- Other Major and Innovative Companies - Details on the company profiles of other major and innovative companies in the market.
- Competitive Benchmarking - Briefs on the financials comparison between major players in the market.
- Competitive Dashboard - Briefs on competitive dashboard of major players.
- Key Mergers and Acquisitions - Information on recent mergers and acquisitions in the market covered in the report. This section gives key financial details of mergers and acquisitions, which have shaped the market in recent years.
- Recent Developments - Information on recent developments in the market covered in the report.
- Market Opportunities and Strategies - Describes market opportunities and strategies based on findings of the research, with information on growth opportunities across countries, segments and strategies to be followed in those markets.
- Conclusions and Recommendations - This section includes recommendations for buy now pay later providers in terms of product/service offerings geographic expansion, marketing strategies and target groups.
- Appendix - This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.
Markets Covered:
1) by Channel: Online; POS2) by Enterprise Size: Large Enterprise; Small and Medium Enterprise
3) by End-User: Consumer Electronics; Fashion and Garments; Healthcare; Leisure and Entertainment; Retail; Other End-Uses
Key Companies Profiled: Block Inc; Affirm Holdings Inc; PayPal Holdings Inc; Klarna Bank AB; Mastercard Incorporated
Countries: China; Australia; India; Indonesia; Japan; South Korea; USA; Canada; Brazil; France; Germany; UK; Italy; Spain; Russia
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; buy now pay later indicators comparison.
Data Segmentation: Country and regional historic and forecast data; market share of competitors; market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Companies Mentioned
The companies featured in this Buy Now Pay Later market report include:- Block, Inc
- Affirm Holdings Inc
- PayPal Holdings Inc
- Klarna Bank AB
- Mastercard Incorporated
- PayU
- Shop Pay Installments (Shopify Inc.)
- Sezzle
- Latitude Group Holdings Limited
- Visa Inc.
- Zip Co Limited
- PayPal Holdings, Inc.
- AfterPay Limited
- Openpay Group
- LatitudePay Financial Services
- Amazon Pay Later
- Lazypay
- Paytm Postpaid
- ZestMoney
- Simpl
- Mswipe Technologies Pvt. Ltd
- CRED
- DMI Finance Private Limited
- Samsung
- ePayLater
- Mobikwik
- Flipkart Pay Later
- OlaMoney
- Flexmoney Technologies Pvt Ltd
- MoneyTap
- axio
- Slice
- Westpac
- Kuaishou
- DMI Finance
- BharatPe
- LatitudePay
- Openpay
- Paidy
- Smartpay
- Kredivo Holdings Ltd.
- CommBank
- National Australia Bank (NAB)
- Tencent Holdings Ltd
- GoTo
- Lotte Corporation
- RHB Banking Group
- HSBC Group
- Fintech Farm Ltd
- Santander Group
- Klarna Bank AB
- Payl8r
- Worldline
- Alma
- Temenos
- Santander
- Revolut Group Holdings Ltd.
- Billie GmbH
- Zilch
- Clearpay
- Vipps MobilePay
- Przelewy24
- Tap2Pay
- eCard S.A.
- VeloBank
- Raisin Bank AG
- Twisto
- Mokka
- Klarna International
- Tinkoff
- Comgate a.s.
- mBank SA
- Revolut
- PayPo
- Leanpay
- TBI Bank
- PJSC Sberbank
- Flanco
- Tabit
- Amazon
- Square
- Marqeta
- Upgrade
- PROG Holdings
- Affirm Holdings Inc
- Apple Inc
- Thinking Capital
- Lendified
- Merchant Advance Capital
- CIBC Small Business Loans
- Kabbage
- OnDeck
- Lending Club
- Wells Fargo
- BlueVine
- Square Capital
- RapidAdvance
- Funding Circle
- Credibly
- Fundera
- Open Co
- Powerpay
- Banco do Brasil
- Caixa Econômica Federal
- Bradesco
- Itaú Unibanco
- Santander Brasil
- Nubank
- PagSeguro
- Creditas
- Geru
- Banco Inter
- Uala
- MODO
- Swap
- Addi
- MercadoPago
- PicPay
- Kueski Pay
- RappiPay
- Tamara
- Postpay
- Tabby
- Spotii
- Zina
- FlexxPay
- Sav
- Comfi
- Saman Bank
- PayU Israel
- PayTabs
- Souhoola
- Lipa Later Group
- Blnk
- Keza Africa
- CD Care
- Zilla
- ValU
- Callpay
- Blue Label Telecoms
- Jumia Nigeria
- Sympl
- Payflex
- Fawry
- MNT-Halan
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 332 |
| Published | June 2025 |
| Forecast Period | 2024 - 2034 |
| Estimated Market Value ( USD | $ 231.5 Billion |
| Forecasted Market Value ( USD | $ 7890 Billion |
| Compound Annual Growth Rate | 42.3% |
| Regions Covered | Global |
| No. of Companies Mentioned | 146 |
