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United States Buy Now Pay Later Market Research Report: Information By Channel (Point of Sale (POS) And Online), By Enterprise Type (SMES And Large Enterprises), By Category (Banking, Financial Services and Insurance (BFSI), Consumer Electronics, Fashion & Garment, Healthcare, Retail, Media and Entertainment, Others (Travel and Transportation, Education, Logistics)) – United States Market Forecast Till 2032.


ID: MRFR/ICT/19864-HCR | 128 Pages | Author: Aarti Dhapte| July 2024

United States Buy Now Pay Later Market Overview


United States Buy Now Pay Later Market Size was valued at USD 12.8 Billion in 2022. The Buy Now Pay Later Market industry is projected to grow from USD 20.0 Billion in 2023 to USD 697.2 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 55.80% during the forecast period (2024 - 2032). Increasing consumer demand for flexible payment options and growing adoption of e-commerce and online shopping platforms are the main market drivers anticipated to propel the Buy Now Pay Later Market in the United States.


Figure 1: US Buy Now Pay Later Market Size, 2024-2032 (USD Billion)


United States Buy Now Pay Later Market


Source: Secondary Research, Primary Research, MRFR Database and Analyst Review


United States Buy Now Pay Later Market Trends


Increasing number of e-commerce platforms that accept online payments is accelerating market growth


The growing number of e-commerce platforms accepting online payments drives the market CAGR for Buy Now Pay Later in the United States. The growing use of online payment methods in areas such as banking, health insurance, retail and consumer goods, and others has fueled the global point-of-sale installment loans business. According to the United Nations Conference on Trade and Development (UNCTAD), by 2020, more than 80% of global customers will have shopped online using digital payment methods. Furthermore, increased e-commerce sales worldwide in 2021 produced a huge need for BNPL services. According to the Census Government Organization, retail e-commerce sales in the third quarter of 2021 in the United States totaled USD 204.6 billion. Likewise, according to a United Nations Conference on Trade and Development (UNCTAD) research, worldwide e-commerce sales through online platforms hit USD 26.7 trillion, with retail sales increasing from 16% to 19% in 2020. Such a surge in e-commerce sales around the world has generated a massive opportunity for market expansion over the forecast period.


Furthermore, increased knowledge of consumer electronic gadgets and health insurance services contributes to growth. According to the Reserve Bank of Australia, buy now and pay later transactions for commodities in New Zealand and Australia were worth approximately USD 10 billion in 2020. The value of BNPL's service transactions is constantly expanding as demand for consumer electronic gadgets and health insurance services rises.Additionally, the use of online payment methods has increased significantly during the previous decade. Convenience, evolving customer behavior, financial flexibility, competitive interest rates, seamless integration with e-commerce platforms, increased security measures, successful marketing methods, and younger generations' tastes all contribute to this transition. The rising use of internet payment methods, particularly BNPL services, is changing how people make payments and manage their accounts. It is likely to continue to shape the financial environment in the future. The growing popularity of online payment in a variety of industries, including banking, health insurance, retail and consumer goods, has spurred the growth of the global point-of-sale installment loans business. The global surge in e-commerce sales has created a substantial window of opportunity for the market to grow throughout the forecast period, driving the market revenue.


United States Buy Now Pay Later Market Segment Insights


Buy Now Pay Later Channel Insights


The United States Buy Now Pay Later Market segmentation, based on Channels, includes Point of Sale (POS) And Online. The Point of Sale (POS) category is expected to grow the quickest during the projected period. To boost customer happiness and strengthen client connections, some companies are focusing on providing PoSBNPL financing solutions. Furthermore, corporations offer customers explicit PoS installment lending schemes that are loyalty-based. As a result, businesses are experiencing a higher number of repeat consumers.


Figure 2: United States Buy Now Pay Later Market, By Channel, 2024 & 2032 (USD Billion)


United States Buy Now Pay Later Market, By Channel


Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Buy Now Pay Later Enterprise Type Insights


The United States Buy Now Pay Later Market segmentation, based on Enterprise Type, includes SMES And Large Enterprises. Large enterprises dominated the market in 2023. These factors, including broad adoption of BNPL payment solutions to give their consumers with an inexpensive and flexible payment method for purchasing high-value products, have contributed to the expansion of the large enterprise segment. As a result of BNPL, shoppers typically purchase more products due to the simplicity of purchase, resulting in revenue increase. Thus, BNPL helps major organizations drastically improve their client experience.


Buy Now Pay Later Category Insights


The United States Buy Now Pay Later Market segmentation, based on Category, includes Banking, Financial Services and Insurance (BFSI), Consumer Electronics, Fashion & Garment, Healthcare, Retail, Media and Entertainment, Others (Travel and Transportation, Education, Logistics). Consumer electronics retained the majority of the buy now pay later market share in 2023, owing to an increase in online sales of consumer electronics such as smart TVs, smartphones, gaming consoles, and others.


Buy Now Pay Later Country Insights


The United States is predicted to have the greatest market share due to increased investment in R&D activities and a thriving start-up environment. Increasing the number of repeat customers who utilize this service to purchase products helps the market flourish. Key firms, including Affirm Holdings, Inc., PayPal, Quadpay, Sezzle, and others, have contributed to the region's growth through their presence and investment.


United States Buy Now Pay Later Key Market Players & Competitive Insights


Leading market players are investing heavily in research and development in order to expand their Type lines, which will help the Buy Now Pay Later Market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new Type launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the Buy Now Pay Later industry must offer cost-effective items.


Major players in the Buy Now Pay Later Market are attempting to increase market demand by investing in research and development operations, including Affirm Holdings Inc. (U.S.), Paypal (U.S.), Klarna Bank AB (publ) (Sweden), Laybuy Group Holdings Limited (New Zealand), Perpay Inc., (Philadelphia), Quadpay. (U.S.), Sezzle (U.S.), Pay18r (U.K.), Splitit (U.S.), Billie (Germany)


Key Companies in the Buy Now Pay Later Market include




  • Affirm Holdings Inc. (U.S.)



  • Klarna Bank AB (publ) (Sweden)



  • Paypal (U.S.)



  • Laybuy Group Holdings Limited (New Zealand)



  • Perpay Inc., (Philadelphia)



  • Quadpay. (U.S.)



  • Sezzle (U.S.)



  • Pay18r (U.K.)



  • Splitit (U.S.)



  • Billie (Germany)



United States Buy Now Pay Later Industry Developments


February 2023, CRED launched CRED Flash, an application that allows users to buy now and pay later. CRED Flash would allow users to make payments using the app and over 500 partner retailers, including Urban Company, Zpto, and Swiggy. It allows consumers to clear their bills for free within 30 days.


December 2022, Galileo Financial Technologies, LLC, a financial technology business, has launched a customized Buy Now Pay Later Enterprise Type for fintechs and banks. This Enterprise Type would make it easier for banks and fintechs to enter the market and encourage their clients to spend more.


July 2022, In India, Samsung, for the first time, offered a purchase now, pay later option for its foldable smartphones, including the Galaxy Z Flip 3, Galaxy $22 series, and Galaxy Z Fold 3. This BNPL option allows Samsung consumers to pay 60% of their entire cost in 18 interest-free installments, with the remaining 40% to be paid in the 19th installment.


United States Buy Now Pay Later Market Segmentation


Buy Now Pay Later Channel Outlook




  • Point of Sale (POS)




  • Online




Buy Now Pay Later Enterprise Type Outlook




  • SMES




  • Large Enterprises




Buy Now Pay Later Category Outlook




  • Banking, Financial Services and Insurance (BFSI)




  • Consumer Electronics




  • Fashion & Garment




  • Healthcare




  • Retail




  • Media and Entertainment




  • Others (Travel and Transportation, Education, Logistics)



Report Attribute/Metric Details
Market Size 2022 USD 12.8 Billion
Market Size 2023 USD 20.0 Billion
Market Size 2032 USD 697.2 Billion
Compound Annual Growth Rate (CAGR) 55.80% (2024-2032)
Base Year 2023
Market Forecast Period 2024-2032
Historical Data 2019-2022
Market Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
Segments Covered Channel, Enterprise Type, and Region
Countries Covered United States
Key Companies Profiled Affirm Holdings Inc. (U.S.), Paypal (U.S.), Klarna Bank AB (publ) (Sweden), Laybuy Group Holdings Limited (New Zealand), Perpay Inc., (Philadelphia), Quadpay. (U.S.), Sezzle (U.S.), Pay18r (U.K.), Splitit (U.S.), Billie (Germany)
Key Market Opportunities Expansion into new markets and partnerships with retailers to offer BNPL services.
Key Market Dynamics Rising consumer preference for convenient and flexible payment options.  


Frequently Asked Questions (FAQ) :

The United States Buy Now Pay Later Market size was valued at USD 12.8 Billion in 2023.

The market is projected to grow at a CAGR of 55.80% during the forecast period, 2024-2032.

The key players in the market are Affirm Holdings Inc. (U.S.), Paypal (U.S.), Klarna Bank AB (publ) (Sweden), Laybuy Group Holdings Limited (New Zealand) and others.

The Large enterprises category dominated the market in 2023.

The Point of Sale (POS) had the largest share in the market.

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