BNPL services are projected to be essential for some shoppers affected by inflation
In the U.S., the BNPL payment value is forecasted to almost double between 2022 and 2026, with the growth rate of the BNPL payment value in the country remaining positive but declining over the years. The number of BNPL users in the U.S. is also forecasted to increase by over 30 million in the same period, displaying the continuous interest in use of BNPL services. According to findings in this new report, at the end of 2022, a double-digit share of holiday shoppers in the U.S. who said that they will be majorly or moderately affected by the inflation stated that having BNPL options was an essential to have during the holiday season. In the UK, that share reached only a single digit percentage, displaying the rising dependence on BNPL services of U.S. shoppers affected by inflation.
BNPL still fails to fit into the traditional credit scoring system in the U.S.
With the growing BNPL adoption in the U.S., credit bureaus are criticizing that the existing credit scoring models in the country are not compatible with the BNPL loan type, leading to issues in credit history collection of BNPL users, according to data cited in the report. As of today, major BNPL providers like Klarna, Afterpay, and others do not or only partially report their users’ transaction and account information to the national credit bureaus, even though these BNPL providers give out not only short-term, interest-free loans but also offer longer-term, interest-bearing loans that would in other cases affect credit scores.
Questions Covered
1. What was the size of the global BNPL market in 2022 and how is it projected to grow through 2027?
2. How high is BNPL user penetration across different markets?
3. What is the attitude of online shoppers that are affected by the inflation towards using BNPL services?
4. Which were the most popular product categories purchased using BNPL in 2022?
5. Who are the major BNPL market players worldwide?
Countries Covered
- USA
- Canada
- UK
- Germany
- Austria
- Netherlands
- France
- Spain
- Scandinavia
- Sweden
- Poland
- China
- Japan
- Australia
- India
- Singapore
- Pakistan
- Colombia
- Brazil
- Mexico
- Chile
- Argentina
- Saudi Arabia
- UAE
- Egypt
- Jordan
- Bahrain
- Kuwait
- Qatar
Please note: For this report, the purchase of an Enterprise license allows up to ten worldwide users of an organization access to the report
Table of Contents
1. Key Takeaways2. Management Summary
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Klarna
- Afterpay
- Affirm
- Paypal
- Sezzle
- Apple
- Fawry
