United States Buy Now Pay Later Market and Investment Opportunities Report 2022-2028: BNPL End-Use Sectors, Operational KPIs, Market Share, Retail Product Dynamics, and Consumer Demographics – QNT Press Release

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Dublin, Feb. 18, 2022 (GLOBE NEWSWIRE) — The “United States Buy Now Pay Later Business and Investment Opportunities – 75+ KPIs on Buy Now Pay Later Trends by End-Use Sectors, Operational KPIs, Market Share, Retail Product Dynamics, and Consumer Demographics – Q1 2022 Update” report has been added to ResearchAndMarkets.com’s offering.

According to the Q4 2021 BNPL Survey, BNPL payment in the United States is expected to grow by 66.5% on annual basis to reach US$ 82086.8 million in 2022.

Medium to long term growth story of BNPL industry in the United States remains strong. The BNPL payment adoption is expected to grow steadily over the forecast period, recording a CAGR of 32.5% during 2022-2028. The BNPL Gross Merchandise Value in the country will increase from US$ 49296.0 million in 2021 to reach US$ 443781.4 million by 2028.

Over the last four to eight quarters, the popularity of buy now, pay later (BNPL) products has surged significantly in the United States. The global pandemic and the growing need for splitting the cost of purchases over a period of time has led to widespread adoption of BNPL products such as the one offered by Klarna, Afterpay, Affirm, and PayPal in the country. Moreover, the growth in volumes for these BNPL providers has been driven in part by the boom in online shopping during the global pandemic.

Leading BNPL players are redesigning their products to increase market share in the United States

As the competition continues to intensify in the United States BNPL market, providers are innovating with their product offering to offer more flexibility and gain increasing traction from consumers.

  • In November 2021, Afterpay, one of the leading BNPL platforms, announced that the firm would introduce installment payment options for subscriptions in the United States. The company stated that users could use BNPL on entertainment subscriptions, gym memberships, and online services. The firm is expected to roll out the service in early 2022, starting first in the United States and Australia.
  • Some of the initial merchants that are expected to offer the service include IPSY, BoxyCharm, …

Full story available on Benzinga.com

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