United States Buy Now Pay Later Market 2025 | Growth Drivers, Key Players & Investment Opportunities

Market Size and Growth

The global buy now pay later market reached US$ 35.47 billion in 2023, with a rise to US$ 42.78 billion in 2024, and is expected to reach US$ 238.56 billion by 2033, growing at a CAGR of 21.04% during the forecast period 2025-2033.

Key Development:

United States: Recent BNPL Developments

✅ In October 2025, Klarna's U.S. IPO debuted at $52 per share, valuing the company at $29.7 billion. Analysts cited Klarna's strong European presence and expanding U.S. footprint.

✅ In September 2025, Galaxy Digital launched GalaxyOne, a new consumer finance app offering commission-free trading, crypto support, and high-yield cash accounts. This marks Galaxy's entry into retail finance, aiming to compete with platforms like Robinhood and SoFi.

✅ In July 2025, FICO announced it would incorporate BNPL loan data into its credit scoring models. Similarly, Affirm began sharing loan data with Experian, signaling a shift towards more transparent credit reporting in the BNPL industry.

Japan: Recent BNPL Developments

✅ In September 2025, Japan announced a $550 billion investment initiative under a new trade deal, with the Japan Bank for International Cooperation (JBIC) providing financial support for overseas expansions in strategically important industries.

✅ In June 2025, the Bank of Japan initiated a pilot program to explore central bank digital currencies aiming to enhance the country's digital payment infrastructure and potentially integrate with BNPL platforms.

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Buy Now, Pay Later (BNPL) is a payment solution that allows consumers to purchase goods or services immediately and pay in installments over time, often interest-free. It enhances purchasing flexibility, improves customer convenience, and drives higher sales and conversion rates for retailers.

Recent Mergers and acquisitions:

United States: Recent BNPL M&A Developments

✅ In August 2025, Affirm Holdings expanded its partnership with Liberty Mutual Investments, enhancing LMI's loan purchasing program by up to $750 million. This collaboration could potentially reach an investment of up to $5 billion, providing Affirm with substantial committed capital for its growth plans.

✅ In December 2025, Prudential Financial's investment arm, PGIM Fixed Income, agreed to purchase up to $500 million in consumer loans from Affirm Holdings over a three-year period. These short-term loans, which typically mature in six months, will be recycled by Affirm to finance up to $3 billion in BNPL loans.

✅ In September 2025, PayPal processed more than $33 billion of BNPL payment volume globally, up approximately 21% from 2023. This growth underscores the increasing adoption of BNPL services and PayPal's expanding role in the sector.

Japan: Recent BNPL M&A Developments

✅ In August 2025, Super.money acquired BharatX, marking a significant move in the Japanese BNPL market. This acquisition is part of Super.money's strategy to expand its footprint in the Asian market and enhance its service offerings.

✅ In July 2025, DMI Finance acquired ZestMoney, a leading BNPL provider in India. This acquisition enables DMI Finance to strengthen its position in the Indian market and diversify its BNPL portfolio.

✅ In June 2025, Upgrade acquired Uplift, a U.S.-based BNPL company, as part of its strategy to expand its presence in the travel and leisure sector. This acquisition allows Upgrade to offer flexible payment options to travelers and enhance its service offerings.

Key Players:

=> Affirm, Inc., Klarna Inc., Splitit USA Inc., Sezzle, Perpay Inc., Zip Co, Ltd, Afterpay, Openpay, PayPal Holdings, Inc., LatitudePay Financial Services.

Growth Forecast Projected:

The Global Buy Now Pay Later Market is anticipated to rise at a considerable rate during the forecast period, between 2025 and 2033. In 2024, the market is growing at a steady rate, and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.

Research Process:

Both primary and secondary data sources have been used in the global Buy Now Pay Later Market research report. During the research process, a wide range of industry-affecting factors are examined, including governmental regulations, market conditions, competitive levels, historical data, market situation, technological advancements, upcoming developments, in related businesses, as well as market volatility, prospects, potential barriers, and challenges.

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Key Segments:

➥ By Channel: Online, POS
➥ By Enterprise Size: Large Enterprises, SMEs
➥ By End User: BFSI, Consumer Electronics, Fashion & Lifestyle, Healthcare, Retail, Media & Entertainment, Others

Regional Analysis for Buy Now Pay Later Market:

⇥ North America (U.S., Canada, Mexico)

⇥ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)

⇥ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)

⇥ South America (Colombia, Brazil, Argentina, Rest of South America)

⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

Benefits of the Report:

Chapter 1: Sets the stage by outlining the report's coverage, summarizing key market segments by region, product type, and application. Presents a snapshot of market sizes, growth potential across segments, and anticipated industry evolution both short and long term.

Chapter 2: Highlights pivotal market insights and uncovers the most significant emerging trends driving change within the industry.

Chapter 3: Offers an in-depth look at the competitive landscape among Buy Now Pay Later producers, including revenue shares, strategic moves, and recent mergers and acquisitions.

Chapter 4: Presents comprehensive profiles of the market's key players, delving into details such as revenue, profit margins, product portfolios, and company milestones.

Chapters 5 & 6: Analyze Buy Now Pay Later revenue at both regional and country levels, providing quantitative breakdowns of market sizes, growth opportunities, and development prospects worldwide.

Chapter 7: Focuses on different market segments by type, examining their individual sizes and potential, guiding readers toward high-impact, untapped market areas.

Chapter 8: Explores segmentation by application, evaluating industry growth potential in various downstream markets and pinpointing promising sectors for expansion.

Chapter 9: Provides a thorough review of the industry's supply chain mapping out both upstream and downstream activities.

Chapter 10: Concludes with a summary of the report's key findings and highlights the most critical takeaways for industry stakeholders.

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FAQ

What is the current size of the Buy Now Pay Later Market?

A: In 2024, the Buy Now Pay Later Market was valued at US$ 42.78 billion, reflecting its strong industry presence.

Q2: How large is the Buy Now Pay Later Market expected to be by 2033?

A: By 2033, industry forecasts suggest the Buy Now Pay Later Market will grow to around US$ 238.56 billion , demonstrating significant expansion.

Q3: What is the growth rate of the Buy Now Pay Later Market?

A: The market is projected to expand at a compound annual growth rate (CAGR) of 21.04% during the forecast period from 2025 to 2033.

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