Buy Now Pay Later (BNPL) is transforming the way consumers shop as it offers flexibility and convenience like never before.
But what’s driving this surge?
Find out here with these 7+ BNPL statistics to know the influencer it has over the shopper and judge for yourself if adding this payment solution will be right for your store.
Top Buy Now Pay Later Statistics: Editors Pick
- The global BNPL market is expected to reach $1014.82 billion in 2028.
- The total number of BNPL users worldwide will surpass 900 million by 2027.
- The BNPL payment option is popular among Gen-Z with an adoption rate of 36.8%.
- Buy Now Pay Later (BNPL) is the 5th most widely used payment method on eCommerce sites.
- 47% of Buy Now Pay Later users say they use the payment method most of the time.
Buy Now Pay Later Usage & Demographics Statistics
1. Clothing is the most popular category of BNPL purchases. Two-thirds (63.5%) of users report purchasing clothing using BNPL services.
Making it a must-have payment option for Retails.
There are other industries as well where customers love to see the Buy Now Pay Later option and are actively using it.
Here is a table showing the market share of buy now pay later (BNPL) services across different categories:
| Categories | Market Share of BNPL Services |
| Clothing | 63.5% |
| Entertainment | 30.3% |
| Reading Material | 29.4% |
| Household Furnishing | 28.7% |
| Groceries | 25.0% |
| Food Delivery Services | 21.8% |
| Cleaning Supplies | 21.2% |
| Automobile | 19.9% |
| Consumer Electronics | 17.5% |
| Travel | 17.4% |
2. 46% of consumers use BNPL for the convenience it offers, while 41% use it for its zero-interest offer
BNPL works as an ideal solution to manage the budget most effectively, making it the number 1 choice for shoppers.
While the other factors that affect this payment solution are flexibility in budgeting (44%), zero interest (41%), and flexibility in repayments (40%)
And the result of such a usage?
Merchants saw a 47% increase in average checkout value and a 57% improvement in conversion rates. On average, 43% of businesses didn’t see any results because they didn’t offer this payment solution.
3. 50% of adults aged between 25-44 in the United States use the BNPL option, of which most are women.
BNPL usage is the greatest among Gen-Z. The adoption rate of this payment method is expected to increase from 36.8% in 2021 to 47.4% in 2025.
Country-Wise Buy Now Pay Later Statistics
4. Sweden has the largest market share in the BNPL market in 2023, followed by Germany and Norway.
BNPL holds a good market share of 21% in Germany and 15% in Norway. Here are the other countries where this payment solution has its influence.
| Country | Market Share (in %) |
| Australia | 15% |
| Belgium | 13% |
| Finland | 13% |
| Denmark | 12% |
| Netherlands | 11% |
| New Zealand | 11% |
| United Kingdom (UK) | 7% |
5. 56% of adults in the United States who have used the Buy Now Pay Later service have experienced at least one issue.
The issues here are related to missing a payment or regretting making the purchase.
On the other side, 41% of users in the United Kingdom worry about missing payments on their BNPL purchases, compared to only 30% of credit card users.
Buy Now Pay Later Consumer Statistics
6. 56% of consumers prefer the Buy Now Pay Later option over using credit cards.
One of the main reasons for this is the convenience of the buy now pay later option over credit cards.
During Amazon Prime Day, shoppers opt for BNPL, resulting in $1.08 billion in credit from BNPL service providers to finance purchases.
Buy Now Pay Later App Statistics
7. Paypal Credit is the most popular BNPL app, boasting 57% of total users worldwide.
While Paypal Credit tops the market share for the app, Klarna has more than 150 million active users.
Here is a table illustrating the market shares of popular BNPL service applications:
| BNPL Service Apps | Market Share of Each Application |
| PayPal Credit | 57% |
| Afterpay | 29% |
| Affirm | 28% |
| Klarna | 23% |
| Zip Pay | 19% |
| QuadPay | 15% |
| Uplift | 13% |
| PerPay | 11% |
Final Thoughts
Buy Now Pay Later (BNPL) has gained massive popularity as an eCommerce trend post-covid. Shoppers opt for it because of its convenience and flexibility.
Make it a part of your 2025 payment solution and see yourself becoming a shopper’s favorite store in no time.
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Sources: The Business Research Company, Global Payments, WorldPay, Bankrate, Bain and Company, eMarketer, Bain and Company, C+R Research, PYMNTS, C+R Research, Statista
