Note: 2022 represents forecast data Fintech companies and pandemic help drive dramatic growth in BNPLīetween 20, BNPL transactions increased by 304% within the 47 researched markets.
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As a result, the full spectrum of BNPL transactions is likely to be greater. This figure excludes BNPL explicitly tied to a credit card function (such as that offered by card networks like Mastercard and Visa), but rather is linked primarily to in-store and fintech offerings of instalment payments. In 2022, BNPL transactions in the 47 markets that Euromonitor researches are forecast to reach USD156 billion, which is comparable to all personal payment transactions in Denmark or Norway. BNPL transactions forecast to exceed USD150 billion Challenges include saturation and regulatory efforts nevertheless, BNPL is expected to continue to play a growing role in payments. Transactions have grown dramatically in recent years, with gross lending forecast to surpass USD150 billion in 2022, benefiting from technological advances. Online payments exploded at the height of the COVID-19 pandemic, meme stocks wreaked havoc on some financial markets, and QR codes made a somewhat triumphant return to North America.Īmongst these storylines, the popularisation and digitisation of Buy Now Pay Later (BNPL) transactions have also taken place in earnest. Recent years have been a whirlwind for the fintech-enabled finance space.
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