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Global Buy Now Pay Later Market and Trends 2022


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Countries Covered: Australia, Germany, India, Singapore, United Kingdom, United States

Pages: 59

Publication Date: 29/03/2022

Questions Covered in the report:

  •  What was the size of the global BNPL market in 2021 and how is it projected to grow through 2026?
  • How high is BNPL user penetration across different markets?
  • What are online shoppers’ attitudes towards using BNPL services?
  • Which were the most popular product categories purchased using BNPL in 2021?
  • Who are the major BNPL market players worldwide?

Key Findings:

Through increasing consumer demand and new feature developments, BNPL services keep gaining popularity: new yStats.com report.

The new report from Hamburg-based market intelligence firm yStats.com, “Global Buy Now Pay Later Market and Trends 2022” offers a comprehensive overview of the new developments in the BNPL market worldwide, provides insights into consumer attitudes towards these services and recent activities of the leading market players. Among other findings, the publication cites a projection that BNPL could account for nearly a quarter of the global B2C E-Commerce sales by 2026.

The BNPL global sales are expected to maintain strong double-digit growth post-pandemic

According to findings in the new yStats.com report, consumers worldwide are increasingly adopting Buy Now Pay Later (BNPL) payment methods. With the number of BNPL users growing rapidly, these services are gaining a higher share of overall online retail sales. Double-digit growth in BNPL sales is expected to continue as the world is starting to recover from the pandemic. By 2026, close to a quarter of global B2C E-Commerce sales could be generated using BNPL offerings.

Gen Z are leading BNPL adoption worldwide

Recent surveys from the major markets, cited in the yStats.com publication, reveal that BNPL services have the highest penetration rates among Gen Z and the Millennials. In the U.S., more than one in three Internet users from Gen Z used BNPL in 2021, and in the UK more 18-24 year-olds used BNPL services than credit cards. As one of the main reasons for using the BNPL payment methods, U.S. consumers stated that these services allowed them to make purchases that otherwise would not fit their budget, while also avoiding credit card interest. At the same time, there is a growing concern over the debt that consumers are accumulating with BNPL services. In Australia, for example, almost one in five consumers had a BNPL loan, as of 2021.

Leading BNPL providers face competitive pressure from new entrants

The top three BNPL providers are Klarna, Afterpay, and Affirm, according to data cited in the yStats.com report. Klarna had the highest number of users among the three and saw this number double between 2019 and 2021. The three BNPL specialists face intensifying competition from banks, credit card networks, and payment companies that are boosting their efforts in this fast-growing market. Among the recent moves that is expected to have a significant impact on the state of BNPL competition is Block’s acquisition of Afterpay.


1. Management Summary

2.Global Overview

  • BNPL Industry and Trends Overview, March 2022
  • BNPL B2C E-Commerce Sales, in USD billion, 2021e & 2026f
  • Number of BNPL Users, in millions, 2021e & 2026f
  • BNPL Share of B2C E-Commerce Sales, in %, 2021e & 2026f
  • Share of Adults Who Would Prefer to Use BNPL to Buy An Item They Could Not Afford Immediately, by Selected Countries, in %, December 2021
  • Breakdown of E-Commerce Websites Offering BNPL as a Payment Method, by Countries, in %, October 2021
  • Market Shares of BNPL Services, in % of Top E-Commerce Websites Supporting BNPL as a Payment Method, March 2022
  • Number of Klarna’s Users, in millions, 2019-2021
  • Number of Afterpay’s Active Customers, by Region, in millions, H1 2020 & H1 2021
  • Number of Affirms’ Active Users, in millions, June 2019-2021

3. North America

3.1. USA

  • BNPL Share of B2C E-Commerce Sales, in %, 2021e & 2025f
  • BNPL Share of Fashion B2C E-Commerce Sales, in %, 2021e
  • BNPL Users, in millions, 2020-2025f
  • BNPL User Penetration Rate, in % of Internet Users, by Age Groups, 2021 & 2025f
  • Top 3 BNPL Platforms Used, in % of BNPL Users, May 2021
  • Top 6 Most Used BNPL Apps, in % of Downloads in the BNPL Category, Q1 2021
  • Product Categories Purchased With BNPL, in % of BNPL Users, March 2021
  • Reasons to Use BNPL, in % of BNPL Users, March 2021
  • Share of BNPL Users Preferring BNPL over Credit Cards, in %, August 2021
  • Preferences of BNPL Users if BNPL Was Not Offered, in % of Purchases, October 2021

4. Europe

4.1. UK

  • Share of Online Shoppers Using BNPL, Compared to Credit Card, by Age Group, in %, July 2021
  • Product Categories Paid with BNPL Services, in % of Respondents, July 2021
  • Average Customer Debt, in GBP, by Selected BNPL Providers, 2020 & 2021
  • BNPL Services Used, in % of Respondents, 2020 & 2021
  • Share of Top 100 E-Commerce Websites Accepting Klarna and Afterpay/Clearpay, in %, May 2021

4.2. Germany

  • Breakdown of B2C E-Commerce Sales by Payment Methods, incl. “Payment by Invoice” and “Installments/Financing”, in %, 2020-2021
  • Breakdown of Preferred Payment Methods, incl. BNPL, in % of Online Shoppers, 2021
  • Breakdown of Klarna Services Used, in % of Klarna Users, March 2022

5. Asia


  • BNPL Sales, in AUD billion, FY 2019 & FY 2021
  • Attitude of Online Shoppers Towards BNPL Services, in % of Respondents, May 2021
  • Type of Debt Held, incl. BNPL Loans, in % of Consumers, Q1 2021
  • Level of Concern/Stress Over Type Debt, by Type of Debt, incl. BNPL Loan, Q1 2021
  • Product Categories Purchased Using BNPL Services, in % of Consumers, Q1 2021
  • Afterpay’s Share of B2C E-Commerce Sales, 2020 & 2021e


  • Share of Internet Users Who Used BNPL to Pay Online, in %, H1 2021
  • BNPL Sales, in USD billion, Number of Users, in million, 2021e & 2026, and Selected BNPL Providers, February 2022

5.3. Singapore

  • Share of Adults Who Would Prefer to Use BNPL to Buy An Item They Could Not Afford Immediately, in %, December 2021
  • Tenure and Late Fee of Selected BNPL Providers, January 2022

6. Middle East and Africa


  • BNPL Share of B2C E-Commerce Transactions, in %, 2021e
  • Overview of Selected BNPL Providers, incl. Launch Year, Country of Origin, Number of Employees, Total Funding Received, Installments, and Key Partnerships, October 2021
  • Affirm
  • Afterpay
  • Amazon
  • Atome
  • Clearpay
  • Flipkart
  • Grab Paylater
  • Hoolah
  • Visa
  • Klarna
  • Mastercard
  • Monzo
  • Pace
  • Paypal
  • Paytm
  • Rely
  • Revolut

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