Buy Now Pay Later (BNPL) spending reached a record $991.2 million on Cyber Monday 2024, reflecting a 5.5% increase from the previous year. A significant portion of consumers plans to use BNPL for holiday gifting, highlighting its appeal as a flexible payment method amidst rising inflation. Experts warn, however, that while BNPL can ease financial strain, it also poses risks for those who may misuse it. As this trend is expected to continue, merchants, particularly in ecommerce, have a substantial opportunity to leverage BNPL services.
BNPL allows consumers to pay in installments, offering greater flexibility amid rising inflation and credit card interest. This payment method is becoming increasingly popular.
With nearly 40% of US internet users expected to use BNPL by 2026, it underscores the growing acceptance of this payment option during holiday spending.
Collection
[
|
...
]