US Buy Now, Pay Later Forecast 2023

How BNPL Fintechs Can Overcome Competition in This Maturing Product Category

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?

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

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First Published on Aug 8, 2023


David Morris


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

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