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Global B2C Buy Now Pay Later Market Intelligence Service 2024: Track the Future Growth Dynamics of the $1,088 Billion Industry - ResearchAndMarkets.com
[April 15, 2024]

Global B2C Buy Now Pay Later Market Intelligence Service 2024: Track the Future Growth Dynamics of the $1,088 Billion Industry - ResearchAndMarkets.com


The "Global B2C Buy Now Pay Later Market Intelligence Databook Subscription - Q1 2024" report has been added to ResearchAndMarkets.com's offering.

Global BNPL payments are expected to grow by 16.4% on an annual basis to reach US$633.2 billion in 2024.

The medium to long-term growth story of the global BNPL industry remains strong. BNPL payment adoption is expected to grow steadily over the forecast period, recording a CAGR of 11.4% during 2024-2029. The BNPL gross merchandise value in the region will increase from US$543.8 billion in 2023 to reach US$1,088.3 billion by 2029.

This report provides a detailed data-centric analysis of the Buy Now Pay Later (BNPL) industry, covering market opportunities and risks across a range of retail categories. With over 75 KPIs at the country level, this report provides a comprehensive understanding of BNPL market dynamics, market size and forecast, and market share statistics.

The global buy now pay later industry is poised to grow at an accelerated pace over the medium term. The adoption of the flexible payment solution is growing across regions. While the unbanked and underbanked consumers are driving the adoption in markets like Latin America and Africa, higher inflation and cost of living crisis has resulted in more Europeans using the payment solution.

In the Middle East, too, consumers are using the BNPL schemes for purchases, including essentials and luxury. Providers are also raising funding rounds to scale their business across the region. In Asia Pacific, as well, the market is poised for accelerated growth, with India and Southeast Asian countries projected to lead regional market. Overall, the publisher maintains a positive growth outlook for the sector over the next three to four years.

Firms are entering into strategic partnerships to widen the distribution of their BNPL products

Amid the pent-up demand for credit services among consumers globally, providers are entering into strategic collaborations to reach more consumers, while targeting higher gross merchandise value.

  • Klarna, for instance, entered into strategic partnership with Walmart Canada, enabling shoppers to make deferred payments at the retailer. The collaboration comes at a time when the acceptance of BNPL is growing at a rapid rate among Canadians. Globally, Klarna has partnered with more than 500,000 retailers and the number is poised to grow further in 2024.
  • Zip Co., the Australian BNPL firm, entered into a collaboration with Primer in September 2023. The partnership is part of the firm's strategy to further increase its penetration in the United States market over the medium term. Under the collaboration, Primer will integrate the BNPL offering of Zip, thereby empowering merchants from sectors such as retail, travel, and fashion among others.

From the short to medium-term perspective, the publisher expects more such strategic partnerships in the global BNPL market, as the competitive landscape continues to grow in the sector. This will support the growth of the broader buy now pay later market over the next three to four years.

New firms are piloting the BNPL payment method to tap into the growing demand for the solution

The BNPL industry is poised to record steady growth over the next three to four years, amid higher adoption and usage of the payment tool. Consequently, to tap into the growing market, more players are entering the sector with their own BNPL payment service.

  • Google Pay, for instance, announced strategic partnerships wih Zip and Affirm to offer its users with a BNPL payment option. The partnerships, announced in December 2023, will see the rollout of the payment solution across the United States in 2024. The integration with Zip will begin in January 2024 under the pilot project. Affirm, on the other hand, will be made available on Google Pay during Q1 2024. Google Pay, over the medium term, is planning to launch the installment payment tool to its global user base.



Google Pay's competitor, Apple, has already launched the payment method for consumers in the United States in 2023. The entry of Google Pay, in the US BNPL industry, is set to drive the competitive landscape in the fast-growing market over the medium term. The growing competition is, therefore, expected to aid innovation in the industry over the next three to four years.

Regulatory activities are projected to pick up pace in the global buy now pay later market in 2024


With the market growing at a rapid rate, regulatory activities are also projected to pick up pace in the global market over the medium term. Central Banks, especially in the Middle East, have announced new regulatory requirements for providers in the region.

  • The UAE Central Bank, in December 2023, announced new regulations to oversee BNPL services. According to the Central Bank, businesses providing BNPL services must operate as agents of licensed banks or financial institutions, with approval from the central bank. The Saudi Central Bank announced new regulations for the fast-growing BNPL industry in December 2023. The rules announced by the Central Bank include provisions regarding licensing requirements and other regulatory measures such as information security standards, internal policies, and measures to combat financial crimes.
  • The New York State Governor, in January 2024, also revealed that she plans to propose new regulations for the fast-growing BNPL market. The legislation would require BNPL providers to acquire a license for operating in the state. If it happens, New York will become the first state in the country to have such legislation. However, it is not the first state to regulate the BNPL industry. Afterpay and Klarna withdrew operations from New Mexico due to the regulations that came into effect in January 2023. The regulation, notably, limited the late fee model adopted by BNPL firms.

Many regulatory authorities, globally, are concerned about the growing debt trap due to higher adoption of BNPL schemes, even among unworthy credit borrowers. Consequently, the publisher expects regulatory activities to gain momentum from the short to medium-term perspective.

Global BNPL Payment industry has recorded strong growth over the last four quarters, supported by increased e-commerce penetration.

A bundled offering, combining the following 22 reports (1210 tables and 1540 charts):

  • Global Buy Now Pay Later Insight Brief
  • Global Buy Now Pay Later Business and Investment Opportunities Databook
  • Argentina Buy Now Pay Later Business and Investment Opportunities Databook
  • Australia Buy Now Pay Later Business and Investment Opportunities Databook
  • Brazil Buy Now Pay Later Business and Investment Opportunities Databook
  • Canada Buy Now Pay Later Business and Investment Opportunities Databook
  • China Buy Now Pay Later Business and Investment Opportunities Databook
  • France Buy Now Pay Later Business and Investment Opportunities Databook
  • Germany Buy Now Pay Later Business and Investment Opportunities Databook
  • India Buy Now Pay Later Business and Investment Opportunities Databook
  • Indonesia Buy Now Pay Later Business and Investment Opportunities Databook
  • Italy Buy Now Pay Later Business and Investment Opportunities Databook
  • Kenya Buy Now Pay Later Business and Investment Opportunities Databook
  • Mexico Buy Now Pay Later Business and Investment Opportunities Databook
  • Nigeria Buy Now Pay Later Business and Investment Opportunities Databook
  • Philippines Buy Now Pay Later Business and Investment Opportunities Databook
  • Russia Buy Now Pay Later Business and Investment Opportunities Databook
  • South Africa Buy Now Pay Later Business and Investment Opportunities Databook
  • Thailand Buy Now Pay Later Business and Investment Opportunities Databook
  • United Arab Emirates Buy Now Pay Later Business and Investment Opportunities Databook
  • United Kingdom Buy Now Pay Later Business and Investment Opportunities Databook
  • United States Buy Now Pay Later Business and Investment Opportunities Databook

Companies Featured

  • Wipei
  • PagoMisCuentas
  • Uala
  • Afterpay
  • Zippay
  • Humm
  • OpenPay
  • Payright
  • Affirm
  • After Pay
  • Klarna
  • Sezzle
  • Paypal
  • Alipay
  • Tencent
  • JD Baitio
  • Meituan
  • Alma
  • Cofidis
  • RatePay
  • Afterpay
  • Simpl
  • PineLabs
  • Zest Money
  • Paytm
  • Lazypay
  • Akulaku
  • Kredivo
  • Atome
  • Splitit
  • GoJek Paylater
  • Klarna
  • ScalePay
  • Mash and Domec JV
  • SplittyPay
  • Aspira
  • Lipa Later
  • Miti
  • Flexpay Technologies
  • Julla
  • Nelo
  • Kueski
  • finvero
  • Aplazo
  • Atrato
  • PayQart
  • CD Care
  • Buynowpaylater.com
  • Jumia Flex
  • Carnon
  • TendoPay
  • Cashalo
  • BillEase
  • Plentina
  • Zip
  • Mokka
  • Halva
  • Tinkoff
  • Zoodpay
  • Mobicred
  • More Tyme
  • Payflex
  • Pay Just Now
  • PayUp
  • Shopee PayLater
  • Zilingo
  • PowerBuy
  • Pacepay
  • Tabby
  • Postpay
  • Tamara
  • Spotii
  • Clearpay
  • Paypal Credit
  • Laybuy
  • Paypal
  • Affirm
  • Futurepay
  • Addi
  • Cleo
  • DiniePay
  • Truepay

For more information about this report visit https://www.researchandmarkets.com/r/y89z91

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