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Global Buy Now Pay Later Market, Trends and Players 2022

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SKU: 1568 Categories: , Tag:
Sample reports can only be downloaded by members.
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Description

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

Pages: 77

Publication Date: 05/04/2022

Questions Covered in the report:

  • What was the size of the Buy Now Pay Later market in 2021?
  • How strong is Buy Now Pay Later’s growth potential through 2026?
  • Consumers in which markets have the greatest interest in Buy Now Pay Later services?
  • Who are the top Buy Now Pay Later providers worldwide?
  • What are the KPIs of the world’s three largest Buy Now Pay Later firms?

Key Findings:

Global BNPL market growth and competition landscape revealed in a new report by yStats.com

Hamburg-based business intelligence firm yStats.com has released a new report, “Global Buy Now Pay Later Market, Trends and Players 2022.” As per the report’s findings, the BNPL market’s growth potential remains strong, while competition is becoming more intense. Klarna, Afterpay and Affirm are revealed as the world’s top BNPL specialists, well-placed to benefit from the double-digit growth in BNPL sales through 2026.

Seamlessly integrated into the checkout process, Buy Now Pay Later (BNPL) services have conquered the E-Commerce payments scene outpacing credit cards and most other payment methods by annual growth rate. At this speed, BNPL could account for a quarter of global online retail revenues in five years’ time, according to one projection cited in the yStats.com report. Gen Z and millennials are especially drawn to this payment method, allowing them to purchase items that would otherwise no fit their budgets, all the while avoiding credit card interest.

USA, Australia, Germany and the UK have the highest number of E-Commerce websites supporting BNPL payment methods, according to data cited by yStats.com. At the same time, recent surveys point to emerging economies like Indonesia, India, and Mexico as high-potential BNPL markets. More than one in three respondents in these countries admitted they would use BNPL offerings to pay for items they could not afford on the spot. In India, leading online retail marketplaces, Amazon and Flipkart, recognized this potential and started offering their own pay later solutions to customers.

The top three BNPL providers worldwide as ranked in the yStats.com report are Sweden’s Klarna, Australia-based Afterpay and Affirm from the U.S. All three boast a large number of customers, thousands of merchant partners and multi-billion dollar GMVs. During 2021, the top 3 recorded high double-digit growth numbers, led by Afterpay which nearly doubled sales compared to 2020. Facing intensified competition from non-specialist providers like banks and credit card networks, the three leaders use the growth momentum to expand their product offerings beyond BNPL. For example, Affirm introduced a debit card with installments feature and Klarna launched an all-in-one shopping app featuring promotions, payment, delivery and returns.

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

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-Pacific

5.1.  Australia

  • 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

5.2.  India

  • 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

6.1. Regional

  • 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

7. Top 3 BNPL Player Profiles

7.1. Klarna

  • Company Profile, April 2022
  • Number of Users, in millions, 2019-2021
  • Number of Merchants, in thousands, 2019-2021
  • Gross Merchandise Volume, in SEK billion, 2019-2021
  • Breakdown of Net Operating Income by Selected Countries and by Income Category, 2020 & 2021

7.2. Afterpay

  • Company Profile, April 2022
  • Overview of Consumer and Retailer Fees, by Australia, USA and UK, March 2022
  • Number of Active Customers, by Region, in millions, FY 2020 & FY 2021
  • Number of Active Merchants, by Region, in thousands, FY 2020 & FY 2021
  • Underlying Sales, by Region, in AUD million, and Breakdown by Channel, by Enterprise and Other, in %, FY 2020 & FY 2021

7.3.  Affirm

  • Company Profile, March 2022
  • Company Profile, March 2022
  • Overview of Lending Products, including Merchant Discount Rate, APR, Term Length, Payment Frequency and Representative AOV, March 2022
  • GMV, Total Revenue, and Revenue Less Transaction Costs, in USD million, and CAGR, in %, FY 2019-FY2022f
  • Number of Active Merchants, in thousands, June & December 2020-2021
  • Number of Active Users, in millions, June & December 2020-2021
  • Affirm
  • Afterpay
  • Amazon
  • Atome
  • Clearpay
  • Flipkart
  • Grab Paylater
  • Hoolah
  • Klarna
  • Mastercard
  • Monzo
  • Pace
  • Paypal
  • Paytm
  • Rely
  • Revolut
  • Visa

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