A new study from Juniper Research, found that by 2028, the Buy Now, Pay Later (BNPL)userbase will increase by 107%, from 380 million users in 2024. Banks and super apps are leveraging their positions to underrepresented demographics incentivising BNPL through consolidated offerings tailored to consumers, such as integrated eCommerce platforms. Juniper Research found that despite…
Read moreNew data from Klarna has highlighted new data that suggests that interest-free Buy Now Pay Later (BNPL) offers consumers better outcomes when compared to traditional credit methods, with 95% of BNPL purchases being paid off early or on time. The research also found that in contrast, 50% of credit card users miss monthly payments and…
Read moreNearly a quarter of adults (23%) said they have used BNPL in the past year, mirroring pre-festive season observations according to research by TransUnion. The survey data points towards a robust and maturing sector, with more than one in five (21%) planning to apply for new BNPL services in the coming year. Yet despite many…
Read moreNew research by CreditSpring has found that 6.7 million young people (aged 18-34) across the UK don’t know that using buy now, pay later (BNPL) can lead to debt. The research showed that mearly half (46%) of young people remain unaware BNPL can lead to debt, much higher than the 35% UK average. BNPL is…
Read moreA new report by Lenvi has revealed the growing importance of brand and trust for borrowing decisions and AI innovation, a dip in the number of people factoring green credentials into their decision making and the growing popularity of Buy Now Pay Later (BNPL). The report reveals that borrowers are placing more emphasis on brand…
Read moreMillennials and Gen X said they spent more than Gen Z when it comes to using Buy Now, Pay Later (BNPL) for online shopping over the past 12 months according to the latest Q3 2023 Consumer Pulse survey from a global information and insights company TransUnion. Compared to 54% of Millennials and 39% of Gen…
Read more16 million people are still unaware you can get into debt using ‘Buy Now Pay Later’ (BNPL) services*, according to research from lender, Creditspring. A third of people (31%) still don’t think that BNPL purchases can lead to debt, however, this jumps to over half (51%) for those aged 18-24 who are 29% more likely…
Read moreA number of national news outlets are reporting that the Treasury is considering shelving plans to regulate the Buy Now Pay Later (BNPL) industry. Following news that there could be delays to regulation of the Buy Now, Pay Later sector, Richard Lane, Director of External Affairs at StepChange Debt Charity, said “We’re alarmed to read…
Read moreOne fifth (18%) of teachers have been forced to rely on buy now, pay later (BNPL) payment options to afford their weekly shop, according to new research from responsible lender, Creditspring. More than a quarter of teachers (26%) say they wish they’d never used BNPL options, with 14% admitting they’d were unable to meet repayments…
Read moreNew research from Vodeno/Aion Bank has revealed how embedded banking adoption is significantly boosting brand loyalty for companies, with consumers more likely to use embedded banking products from brands as a result of the cost-of-living crisis. The European Banking-as-a-Service (BaaS) provider’s study revealed that over a third (37%) are more likely to seek out brands…
Read moreThe government has announced its intention to regulate interest-free Buy-Now Pay-Later (BNPL) products. The government consulted on policy options to deliver a proportionate approach to regulation in October 2021, followed by a consultation response in June 2022. It is now consulting on the proposed draft legislation that will bring BNPL into Financial Conduct Authority regulation.…
Read moreConsumers Spent £8 billion online in January whilst the use Use of Buy Now Pay Later (BNPL) rose to 12% according to research by Adobe analytics The data shows that UK consumers spent £8 billion online in January, 26.7% less than in December 2022, and a year-on year decrease of 1.4%. It also identified an…
Read moreOver a third (34%) of UK shoppers have now used Buy Now Pay Later (BNPL) services to spread the cost of purchases1, and thousands chose to use BNPL for the first time over the 2022 festive season. That’s according to the latest BNPL Barometer from Equifax, one of the UK’s big three credit reference agencies.…
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