US Buy Now, Pay Later Forecast 2023

How BNPL Fintechs Can Overcome Competition in This Maturing Product Category

Report by David Morris  | UPDATED: Dec 22, 2023
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Executive Summary
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Executive Summary
BNPL payment value will hit $124.82 billion in 2027, despite competition denting fintech leaders’ growth.
BNPL fintechs will need to harness digital wallets and demographic trends to maximize growth.
Sources
Media Gallery
About This Report
Buy now, pay later (BNPL) payment value will rise 14.8% annually from 2023 through 2027, as BNPL fintech leaders adapt to a maturing market by diversifying product offerings and harnessing demographic trends.
Topics
Financial Services
Payments
US
Table of Contents
Executive Summary
BNPL payment value will hit $124.82 billion in 2027, despite competition denting fintech leaders’ growth.
BNPL fintechs will need to harness digital wallets and demographic trends to maximize growth.
Sources
Media Gallery

US buy now, pay later (BNPL) payment value will grow at a 14.8% annual rate from 2023 through 2027—a far cry from explosive historical growth. To outflank emerging competitors, BNPL fintechs will need to develop their digital wallet ecosystems, launch cross-generational marketing campaigns, and tout their higher-income users to retailer partners.

Key Question: How can BNPL fintechs grow US BNPL user and payment value in an increasingly competitive environment?

US Buy Now, Pay Later (BNPL) Payment Value, by Company, 2023 & 2027 (billions and % change vs. prior year)
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KEY STAT: By the end of 2027, Klarna will handily lead Affirm, Afterpay, and Zip on annual payment value. All four will need to diversify their products and harness demographic trends to actualize growth.

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Table of Contents

  1. Executive Summary
  2. BNPL payment value will hit $124.82 billion in 2027, despite competition denting fintech leaders’ growth.
  1. BNPL fintechs will need to harness digital wallets and demographic trends to maximize growth.
  2. Sources
  1. Media Gallery

Charts in This Report

US Buy Now, Pay Later (BNPL) Payment Value, by Company, 2023 & 2027 (billions and % change vs. prior year)US Buy Now, Pay Later (BNPL) Service Users, 2023-2027 (millions and % change)
US Buy Now, Pay Later (BNPL) Payment Value, 2023-2027 (billions and % change)US Buy Now, Pay Later (BNPL) Service Users, by Generation, 2023 & 2027 (millions and % change vs. prior year)
US Buy Now, Pay Later (BNPL) Service Users, by Household Income, 2023 & 2027 (millions and % change vs. prior year)

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First Published on Aug 8, 2023

authors

David Morris

Contributors

Eleni Digalaki
Principal Analyst
Oscar Orozco
Director, Forecasting
Chris Keating
Director, Research