Digital lending platforms offer consumer and business loans, and the global digital lending platform market is projected to reach $20.31 billion by 2027. Consumer lending is often sliced into alternative lending, P2P lending, online lending, marketplace lending, PoS lending, and Buy Now, Pay Later (BNPL).
The global BNPL platforms market was valued at $7.32 billion in 2019, and it is expected to reach $33.63 billion by 2027. BNPL platforms have become quite popular in recent years owing to the ‘no interest’ feature. Most BNPL platforms do not charge interest rates for a defined period, and the payment can be made in installments. |
