The Buy-Now-Pay-Later Market Rides The Online Payment Wave: The Driving Engine Behind Buy Now Pay Later Market Evolution in 2025

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Buy Now Pay Later Market Size Growth Forecast: What to Expect by 2025?
Over the past several years, there has been a significant expansion in the size of the buy now pay later market. It is projected to increase from $231.51 billion in 2024 to $342.13 billion in 2025 with a compound annual growth rate (CAGR) of 47.8%. The previous growth was driven by several factors including the rise of e-commerce and online shopping, consumer's preference for flexible payment options, the growth of digital wallets and mobile payments, the expanding millennial and gen z consumer base, and competition among companies providing payment services.

How Will the Buy Now Pay Later Market Size Evolve and Grow by 2029?
Expectations are high for the buy now pay later market, with projected exponential expansion in the coming years. The market value is estimated to increase to $1432.18 billion by 2029, representing an impressive 43.0% compound annual growth rate (CAGR). This projected growth through the forecast period is largely due to several factors including the broadening of BNPL services into physical retail, surge in global e-commerce, implementation by longstanding retailers, focus on responsible lending and customer protection, and the emergence of embedded finance and BNPL as a service. Key trends anticipated over the forecast period encompass integration with point-of-sale systems, the tailoring of BNPL deals, partnerships between BNPL providers and merchants, incorporation into loyalty programs, and regulatory advancements in the BNPL sector.

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What Drivers Are Propelling the Growth of Buy Now Pay Later Market Forward?
The expansion of the buy-now-pay-later market is anticipated to be fueled by a rise in the use of online payment options. Online payments include payments made for goods or services purchased online or in-person. The buy now, pay later scheme allows customers to make minor purchases both online and in person, and then pay quickly. For instance, UK Finance, a financial services firm based in the UK, reported that in 2022, remote banking was still popular in the UK, with 86% of adults employing at least one form of remote banking. This includes online banking through a computer, mobile banking via smartphone or tablet apps, and phone banking services. Therefore, the growing use of online payment methods is boosting the expansion of the buy-now-pay-later market.

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Which Emerging Trends Are Transforming the Buy Now Pay Later Market in 2025?
The emergence of advanced technology is becoming a prominent trend in the buy-now-pay-later market. Main players in the market are focusing on providing customers with innovative digital services to maintain their footing in this industry. For example, in January 2022, Temenos, a software and apps company based in Switzerland, rolled out Temenos Banking Cloud, which is the first of its kind, AI-operated buy-now-pay-later banking service in the market. It is anticipated that this product, through its alternative credit offerings, will provide additional revenue streams to banks and fintechs, aid in their market expansion, and cement their relationships with both customers and business associates. With the provision of insight into automated decision-making processes and matching BNPL customers with appropriate loan offers based on their historical data, Temenos' BNPL service helps banks create lending programs utilizing their patented, transparent AI technology. Hence, the advancement of technology is propelling the growth of the buy-now-pay-later market.

What Are the Key Segments in the Buy Now Pay Later Market?
The buy now pay latermarket covered in this report is segmented -

1) By Channel: Online, POS
2) By Enterprise Size: Large Enterprises, Small and Medium Enterprises
3) By End Use: Consumer Electronics, Fashion and Garment, Healthcare, Leisure and Entertainment, Retail, Others End-User

Subsegments:
1) By Online: E-commerce Platforms, Mobile Apps, Online Marketplaces
2) By Point of Sale (POS): In-store Retail, Restaurant And Hospitality, Service-Based Businesses

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Who Are the Key Players Shaping the Buy Now Pay Later Market's Competitive Landscape?
Major companies operating in the buy now pay later market include Paytm Postpaid, PayPal Holdings Inc., Affirm Inc., Klarna Inc., Splitit Ltd., Sezzle Inc., Perpay Inc., Openpay, Quadpay Inc., LatitudePay, Laybuy Group Holdings Limited, Payl8r (Social Money Ltd. ), ePayLater, Zest Money, Lazypay, Afterpay Ltd., Zip Co Ltd., FuturePay Inc., Bread Finance, PayBright, Zebit Inc., Uplift, ViaBill, Sunbit, Katapult, Credova, Acima Credit, Progressive Leasing, Flexiti Financial, LendCare, PayTomorrow, Payzer, QuickFee, SmartPay Leasing, SplitPay, Zibby

What Geographic Markets Are Powering Growth in the Buy Now Pay Later Market?
North America was the largest region in the buy now, pay later market in 2024.Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the buy now pay later market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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