Buy Now, Pay Later (BNPL) has surged to popularity over the past couple of years. The use of BNPL solutions has increased, especially among millennials and Gen Z.
The BNPL industry, which is currently worth $97 billion, is set to expand in the coming years. BNPL purchases were estimated to have touched $100 billion in 2021 in the US alone, likely to grow at a rate of over 45% to reach 3.98 trillion by 2030. BNPL emerged as the preferred option for people across all age groups in 2021.
