United States Buy Now Pay Later Business and Investment Opportunities Databook - 75+ KPIs on BNPL Market Size, End-Use Sectors, Market Share, Product Analysis, Business Model, Demographics - Q2 2024 Update

The BNPL payments in the country are expected to grow by 14.8% on an annual basis to reach US$109.00 billion in 2024.

The medium to long-term growth story of the BNPL industry in the country remains strong. BNPL payment adoption is expected to grow steadily over the forecast period, recording a CAGR of 9.5% during 2024-2029. The BNPL gross merchandise value in the country will increase from US$94.94 billion in 2023 to reach US$171.59 billion by 2029.The United States BNPL industry is growing at an accelerated rate, on the back of rising adoption and usage among consumers. This trend is expected to continue further in 2024, as shoppers are leveraging installment payment options to fund their purchases amid higher inflation. The rising popularity of the payment method means that more players are entering the market with their BNPL products.

Key Developments in the BNPL Sector in USA

The Buy Now Pay Later (BNPL) sector in the USA has seen significant growth and innovation. Here are the key developments:

Product Launches and Innovations

Sunbit - which focuses on providing pay-over-time options for unexpected expenses like auto repairs and vet care, secured a $310 million warehouse debt facility in January 2024. This funding is expected to enhance its service offerings and merchant partnerships.

Affirm - has continued to expand its partnerships and enhance its platform, maintaining its position as a leading BNPL provider. It allows customers to make purchases at various retailers with transparent payment plans and no hidden fees.

A pioneer in the buy now, pay later (BNPL) sector, Affirm is changing how consumers shop by providing flexible payment options. For example, you can split your purchase into interest-free instalments over a set period, typically from several weeks to months. Affirm makes this possible by acting as a financial intermediary between you and the retailer.

Strategic Partnerships

The Buy Now Pay Later (BNPL) market in the USA has seen several strategic partnerships aimed at enhancing service offerings and expanding market reach. Here are the key partnerships:

1. Google Pay announced strategic partnerships with Zip and Affirm to integrate BNPL payment options into its platform. This collaboration aims to provide users with flexible payment solutions directly through Google Pay, enhancing the overall shopping experience for consumers.
2. PPRO, a leading local payments platform, partnered with Afterpay to launch a new BNPL solution tailored for the US market. This partnership focuses on providing consumers with more flexible payment options, thereby enhancing the shopping experience across various retail sectors.

Regulatory Changes

The BNPL sector in the USA is under increased regulatory scrutiny, with potential new rules expected to enhance consumer protection and transparency. Providers will need to adapt to these changes and emphasize consumer education and responsible lending practices to maintain consumer trust.

Consumer Financial Protection Bureau (CFPB) Oversight: The CFPB has been actively investigating the BNPL industry, focusing on consumer protection issues. A report released in early 2024 highlighted concerns about inconsistent consumer protections, the potential for debt accumulation, and privacy risks associated with BNPL services. Although no specific regulations have been implemented yet, the CFPB's findings indicate a push towards establishing clearer guidelines for BNPL providers.

The BNPL payment industry in United States has recorded strong growth over the last four quarters, supported by increased e-commerce penetration.

This report provides a detailed data-centric analysis of the Buy Now Pay Later (BNPL) industry, covering market opportunities and risks across a range of retail categories. With over 75 KPIs at the country level, this report provides a comprehensive understanding of BNPL market dynamics, market size and forecast, and market share statistics.

It breaks down market opportunities by type of business model, sales channels (offline and online), and distribution models. In addition, it provides a snapshot of consumer behaviour and retail spending dynamics. KPIs in both value and volume terms help in getting an in-depth understanding of end market dynamics.

The publisher’s research methodology is based on industry best practices. Its unbiased analysis leverages a proprietary analytics platform to offer a detailed view of emerging business and investment market opportunities.

Scope

This report provides in-depth, data-centric analysis of Buy Now Pay Later industry in United States through 55 tables and 71 charts. Below is a summary of key market segments:

United States BNPL Market Size and Spending Pattern, 2020-2029

• Gross Merchandise Value Trend Analysis
• Average Value Per Transaction Trend Analysis
• Transaction Volume Trend Analysis

United States Buy Now Pay Later Revenue Analysis, 2020-2029

• Buy Now Pay Later Revenues
• Buy Now Pay Later Share by Revenue Segments
• Buy Now Pay Later Revenue by Merchant Commission
• Buy Now Pay Later Revenue by Missed Payment Fee Revenue
• Buy Now Pay Later Revenue by Pay Now & Other Income

United States Buy Now Pay Later Operational KPIs & Statistics, 2020-2029

• Buy Now Pay Later Active Consumer Base
• Buy Now Pay Later Bad Debt

United States BNPL by Purpose, 2020-2029

• Convenience - Short Term Loans
• Credit - Long Term Loans

United States BNPL by Business Model, 2020-2029

• Two-Party (BNPL offered by retailers)
• Three-Party BNPL Offering

United States BNPL by Merchant Ecosystem, 2020-2029

• Open Loop System
• Closed Loop System

United States BNPL by Distribution Model Analysis, 2020-2029

• Standalone
• Banks & Payment Service Providers
• Marketplaces

United States Buy Now Pay Later Market Share Analysis by Key Players

United States BNPL Analysis by Channel, 2020-2029

• Online Channel
• POS Channel

United States Buy Now Pay Later in Retail Shopping: Market Size and Forecast, 2020-2029

• Gross Merchandise Value Trend Analysis
• Average Value Per Transaction Trend Analysis
• Transaction Volume Trend Analysis

United States Buy Now Pay Later in Home Improvement: Market Size and Forecast, 2020-2029

• Gross Merchandise Value Trend Analysis
• Average Value Per Transaction Trend Analysis
• Transaction Volume Trend Analysis

United States Buy Now Pay Later in Travel: Market Size and Forecast, 2020-2029

• Gross Merchandise Value Trend Analysis
• Average Value per Transaction Trend Analysis
• Transaction Volume Trend Analysis

United States Buy Now Pay Later in Media and Entertainment: Market Size and Forecast, 2020-2029

• Gross Merchandise Value Trend Analysis
• Average Value per Transaction Trend Analysis
• Transaction Volume Trend Analysis

United States Buy Now Pay Later in Services: Market Size and Forecast, 2020-2029

• Gross Merchandise Value Trend Analysis
• Average Value Per Transaction Trend Analysis
• Transaction Volume Trend Analysis

United States Buy Now Pay Later in Automotive: Market Size and Forecast, 2020-2029

• Gross Merchandise Value Trend Analysis
• Average Value Per Transaction Trend Analysis
• Transaction Volume Trend Analysis

United States Buy Now Pay Later in Healthcare and Wellness: Market Size and Forecast, 2020-2029

• Gross Merchandise Value Trend Analysis
• Average Value Per Transaction Trend Analysis
• Transaction Volume Trend Analysis

United States Buy Now Pay Later in Others: Market Size and Forecast

• Gross Merchandise Value Trend Analysis
• Average Value Per Transaction Trend Analysis
• Transaction Volume Trend Analysis

United States Buy Now Pay Later Analysis by Consumer Attitude and Behaviour

• Sales Uplift by Product Category
• Share by Age Group
• Share by Income
• Share by Gender
• Adoption Rationale
• Average Monthly Expense segments

Reasons to buy

• Gain a thorough grasp of the dynamics of the industry for Buy Now Pay Later: Determine key trends, market opportunities, and projections for the years 2020-2029. To keep on top of the game, utilise critical KPIs such as volume, average value per transaction, and gross merchandise value to understand market trends.
• Get market dynamics by end-use sectors and assess new prospects across various end-use sectors to quickly stay up to date on the most recent and impending developments in BNPL markets.
• Market-specific strategies include identifying growth areas that are concentrated on particular opportunities and using our unique combination of quantitative forecasting and cutting-edge insights to analyse market-specific risks and significant trends in the BNPL sector.
• Learn about the attitudes and behaviours of consumers: This study uses information from a proprietary survey to identify and interpret key Buy Now Pay Later KPIs, such as spending by age, gender, and income level.
• Create profitable and proactive business plans by utilising market research and a forward-looking study of BNPL market spend and significant prospects in United States.