As the Consumer Financial Protection Bureau (CFPB) continues its investigation on the buy now, pay later (BNPL) market, we’ll soon know what consumers, small businesses, financial institutions, trade associations, investors and other interested parties have to say on the subject. The open period for their...
Consumer interest in buy now, pay later (BNPL) options is growing at breakneck speed, creating a massive opportunity for market entrants to gain a foothold. Banks that respond to this consumer interest will be entering a market that already appeals to more than half of...
As consumers’ price anxieties make them hesitant to purchase from delivery aggregators, given the high fees these companies charge, DoorDash is turning to buy now, pay later (BNPL) to target these concerned consumers. On Tuesday (March 8), the company announced a partnership with Melbourne, Australia-based...
The number of buy now, pay later (BNPL) firms that have emerged over the past few years, especially in the wake of the pandemic, has exploded, highlighting rapid growth in the BNPL market worldwide. In the Middle East and North Africa (MENA) region, four major...
Buy now, pay later (BNPL) continues to gain popularity across all age groups, and U.S. consumer use in 2021 was up 81% from 2020. Most of that growth came from younger age groups, however. Millennials made up 40% of BNPL users in 2020, the largest...
Buy now pay later (BNPL) giant Klarna posted year-end results for 2021 that continued to show runaway success in the U.S., with a 71% surge in users, which helped push the company to a 42% increase in global transaction volume and a 38% jump in...
Retailers that cater to younger consumers must realize that BNPL not only drives bigger tickets but also keeps shoppers coming back for more. In PYMNTS’ new Buy Now, Pay Later Tracker, Mark Spencer of clothing and lifestyle retailer Jane.com explains why installment plan optionality is...
Estimated to account for about $100 billion worth of transactions each year, the buy now, pay later (BNPL) market has exploded in recent years, fueling and accelerating the transformation in consumer payments through point-of-sale financing. But while the business-to-consumer (B2C) sector has experienced tremendous growth...
Buy now, pay later (BNPL) has become significantly more prominent during the accelerated digital transformation accompanying the pandemic. More and more consumers completing transactions via the web or mobile checkouts have become increasingly familiar with installment payment options, and as they chart their returns to...
