Buy Now, Pay Later Users to Increase 150% by 2027: Juniper
The number of buy now, pay later (BNPL) consumers is expected to top 900 million globally by 2027, increasing 150% from 360 million in 2022, reported Juniper Research Monday. The “substantial growth” will be driven by “the anticipated economic downturn,…
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which will increase the demand for low-cost credit solutions,” it said. BNPL services enable consumers to spread the cost of their purchases without interest charges, “making them a highly attractive alternative to credit cards,” said Juniper. BNPL services also do “not require hard credit checks and an increasing number of merchants are accepting this payment method,” making it easier to access for consumers than “traditional credit,” it said.