YOUR ROADMAP TO PAYMENTS (BNPL)

The Buy Now Pay Later (BNPL) market is expected to grow 181% by 2024. Post-purchase installment programs are not new, but customers’ preference for access to easy, flexible and diverse payment options has made them one of the fastest growing segments in payments.

According to the 2022 Global Payments report by Worldpay from FIS, BNPL e-commerce is more popular than point of sale solutions, although both are gaining in popularity.

North America BNPL e-commerce is predicted to jump from 3.8% of transaction value in 2021 to 8.5% in 2025. Globally, Europe continues to lead in the use of BNPL e-commerce, predicted to grow from 8% in 2021 to 12% in 2025.

Post-purchase installment offers give cardholders the flexibility to make larger purchases and can help to build cardholder loyalty. By offering both choice and control, issuers can use post-purchase installment loans to add functionality to their consumer cardholder portfolio, differentiate their offering, drive revenue and expand cardholder relationships.