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United States Buy Now Pay Later Business and Investment Opportunities

United States Buy Now Pay Later Business and Investment Opportunities

According to PayNXT360’s Q4 2021 BNPL Survey, BNPL payment in the United States is expected to grow by 66.5% on annual basis to reach US$ 82086.8 million in 2022. Medium to long term growth story of...

United States Buy Now Pay Later Business and Investment Opportunities – 75+ KPIs on Buy Now Pay Later Trends by End-Use Sectors, Operational KPIs, Market Share, Retail Product Dynamics, and Consumer Demographics - Q1 2022 Update
Summary
According to PayNXT360’s Q4 2021 BNPL Survey, BNPL payment in the United States is expected to grow by 66.5% on annual basis to reach US$ 82086.8 million in 2022.

Medium to long term growth story of BNPL industry in the United States remains strong. The BNPL payment adoption is expected to grow steadily over the forecast period, recording a CAGR of 32.5% during 2022-2028. The BNPL Gross Merchandise Value in the country will increase from US$ 49296.0 million in 2021 to reach US$ 443781.4 million by 2028.

Over the last four to eight quarters, the popularity of buy now, pay later (BNPL) products has surged significantly in the United States. The global pandemic and the growing need for splitting the cost of purchases over a period of time has led to widespread adoption of BNPL products such as the one offered by Klarna, Afterpay, Affirm, and PayPal in the country. Moreover, the growth in volumes for these BNPL providers has been driven in part by the boom in online shopping during the global pandemic. 

Leading BNPL players are redesigning their products to increase market share in the United States

As the competition continues to intensify in the United States BNPL market, providers are innovating with their product offering to offer more flexibility and gain increasing traction from consumers. For instance, 

• In November 2021, Afterpay, one of the leading BNPL platforms, announced that the firm would introduce installment payment options for subscriptions in the United States. The company stated that users could use BNPL on entertainment subscriptions, gym memberships, and online services. The firm is expected to roll out the service in early 2022, starting first in the United States and Australia. 
• Some of the initial merchants that are expected to offer the service include IPSY, BoxyCharm, Savage X Fenty, and Fabletics, among others. Apart from paying for subscriptions, the firm is enabling its offering to be used for preordered items, where the consumer can pay in four installments once the product is shipped. As of November 2021, Afterpay has partnered with 100,000 retailers and has nearly 10.5 million active users on its platform in the North American region, which also happens to be the largest region in terms of underlying sales. 

BNPL firms are building partnerships with retailers to boost in-store sales in the United States

To increase the total volume and transaction value of BNPL purchases, firms are entering into strategic partnerships with more retailers. These strategic partnerships are also allowing consumers to use the payment method at more online and offline stores in the country. For instance, 

• In December 2021, Afterpay entered into a strategic partnership with Belk, the Southeastern regional departmental store. Under the collaboration, Belk will allow both online and in-store shoppers the ability to pay for their purchases using the Afterpay BNPL payment method. Since its alliance with Afterpay, Belk has also reported an increase of 50% in average order values for consumers using the payment method. 
• Similarly, in August 2021, Affirm entered into a strategic alliance with Amazon in the United States to provide online shoppers with the ability to complete their purchases of US$50 or above using the BNPL payment method. Notably, the alliance with Affirm is the first strategic partnership for Amazon in the United States. 

As the segment continues to record robust growth, PayNXT360 expects more such strategic alliances between retailers and BNPL platforms over the next four to eight quarters in the country.

Domestic BNPL players are focusing on global expansions

In the United States, several players are competing for market share. As a result, BNPL firms are entering into mergers and acquisition deals to drive further growth and to tap into other emerging markets globally. For instance, 

• In September 2021, PayPal announced the acquisition of Japan-based leading BNPL platform Paidy. The US$2.7 billion acquisition will help PayPal to expand its capabilities, distribution, and relevance in the fastest-growing e-commerce market globally. Apart from Japan, the BNPL offering from PayPal is also available in markets such as Australia, the United Kingdom, and other European markets. 
Apart from expanding global footprint, mergers and acquisition deals are also growing, as well-established businesses are looking to tap into the BNPL market. For instance, 
• In August 2021, Square announced the acquisition of Afterpay to enter into one of the fastest-growing consumer payments markets. Notably, Square acquired Afterpay for a total of US$29 billion. This acquisition is expected to help Square in accelerating its growth in the United States as well as keeping up with PayPal, which has become a major player in the global BNPL segment. 
Scope
This report provides in-depth, data-centric analysis of Buy Now Pay Later industry in United States. Below is a summary of key market segments:
United States BNPL Market Size and Spending Pattern
•	Gross Merchandise Value Trend Analysis 
•	Average Value Per Transaction Trend Analysis 
•	Transaction Volume Trend Analysis 
United States Buy Now Pay Later Operational KPIs
• Buy Now Pay Later Revenues, 2019 – 2028
• Buy Now Pay Later Share by Revenue Segments
• Buy Now Pay Later Merchant Commission, 2019 – 2028
• Buy Now Pay Later Missed Payment Fee Revenue, 2019 – 2028
• Buy Now Pay Later Pay Now & Other Income, 2019 – 2028
• Buy Now Pay Later Accounts, 2019 – 2028
• Buy Now Pay Later Bad Debt, 2019 – 2028
United States Buy Now Pay Later Market Share Analysis by Key Players
United States Buy Now Pay Later Spend Analysis by Channel: Market Size and Forecast
•	Online Channel
•	POS Channel
United States Buy Now Pay Later in Retail Shopping: Market Size and Forecast
•	Gross Merchandise Value Trend Analysis 
•	Average Value Per Transaction Trend Analysis 
•	Transaction Volume Trend Analysis 
United States Buy Now Pay Later in Home Improvement: Market Size and Forecast
•	Gross Merchandise Value Trend Analysis 
•	Average Value Per Transaction Trend Analysis 
•	Transaction Volume Trend Analysis
United States Buy Now Pay Later in Leisure & Entertainment: Market Size and Forecast
•	Gross Merchandise Value Trend Analysis 
•	Average Value Per Transaction Trend Analysis 
•	Transaction Volume Trend Analysis
United States Buy Now Pay Later in Healthcare and Wellness: Market Size and Forecast
•	Gross Merchandise Value Trend Analysis 
•	Average Value Per Transaction Trend Analysis 
•	Transaction Volume Trend Analysis
United States Buy Now Pay Later in Other: Market Size and Forecast
• Gross Merchandise Value Trend Analysis 
• Average Value Per Transaction Trend Analysis 
• Transaction Volume Trend Analysis
United States Buy Now Pay Later Analysis by Consumer Attitude and Behaviour
•	Buy Now Pay Later Sales Uplift by Product Category
•	Buy Now Pay Later Spend Share by Age Group
•	Buy Now Pay Later Gross Merchandise Share by Income 
•	Buy Now Pay Later Gross Merchandise Value Share by Gender
•	Buy Now Pay Later Adoption Rationale Gross Merchandise Value Analysis
Reason to buy
• In-depth Understanding of Buy Now Pay Later Market Dynamics: Understand market opportunities and key trends along with forecast (2019-2028). Understand market dynamics through essential KPIs such as Gross Merchandise Value, Volume, and Average Value Per Transaction.

• Insights into Opportunity by end-use sectors – Get market dynamics by end-use sectors to assess emerging opportunity across various end-use sectors.

• Develop Market Specific Strategies: Identify growth segments and target specific opportunities to formulate BNPL strategy; assess market specific key trends, drivers, and risks in the BNPL industry.

• Get Insights into Consumer Attitude and Behaviour: Drawing from proprietary survey results, this report identifies and interprets key Buy Now Pay Later KPIs, including spend by age, gender, and income level.

• Market Share by Key Players
Table of Contents
 1. About this Report
1.1 Summary
1.2 Methodology
1.3 Disclaimer

2. United States BNPL Market Size and Future Growth Dynamics
2.1 Consumer Behavior
2.2 Competitive Landscape and Growth Strategies
2.3 Market Share
2.4 Regulatory Trends

3. United States Buy Now Pay Later Industry Attractiveness
3.1 United States Buy Now Pay Later – Gross Merchandise Value Trend Analysis, 2019-2028
3.2 United States Buy Now Pay Later – Average Value Per Transaction Trend Analysis, 2019-2028
3.3 United States Buy Now Pay Later – Transaction Volume Trend Analysis, 2019-2028

4. United States Buy Now Pay Later Operational KPIs
4.1 Buy Now Pay Later Revenues, 2019 – 2028
4.2 Buy Now Pay Later Share by Revenue Segments
4.3 Buy Now Pay Later Merchant Commission, 2019 – 2028
4.4 Buy Now Pay Later Missed Payment Fee Revenue, 2019 – 2028
4.5 Buy Now Pay Later Pay Now & Other Income, 2019 – 2028
4.6 Buy Now Pay Later Accounts, 2019 – 2028
4.7 Buy Now Pay Later Bad Debt, 2019 – 2028

5. United States Buy Now Pay Later Spend Analysis by Channel
5.1 Buy Now Pay Later Market Share by Channel, 2019 – 2028
5.2 Buy Now Pay Later Online Channel Market Size and Forecast, 2019 – 2028
5.3 Buy Now Pay Later POS Channel Market Size and Forecast, 2019 – 2028

6. United States Buy Now Pay Later Snapshot by End-Use Sector
6.1 Buy Now Pay Later Market Share by End-Use Sector – Emerging Avenues and Future Growth Prospects
6.2 Buy Now Pay Later Sales Uplift by End-Use Sector
6.3 Buy Now Pay Later Share by Retail Product Category

7. United States Buy Now Pay Later in Retail Shopping: Market Size and Forecast, 2019 – 2028
7.1 United States Buy Now Pay Later Retail Shopping – Gross Merchandise Value Trend Analysis, 2019-2028
7.2 United States Buy Now Pay Later Retail Shopping – Average Value Per Transaction Trend Analysis, 2019-2028
7.3 United States Buy Now Pay Later Retail Shopping – Transaction Volume Trend Analysis, 2019-2028

8. United States Buy Now Pay Later in Home Improvement: Market Size and Forecast, 2019 – 2028
8.1 United States Buy Now Pay Later Home Improvement – Gross Merchandise Value Trend Analysis, 2019-2028
8.2 United States Buy Now Pay Later Home Improvement – Average Value Per Transaction Trend Analysis, 2019-2028
8.3 United States Buy Now Pay Later Home Improvement – Transaction Volume Trend Analysis, 2019-2028

9. United States Buy Now Pay Later in Leisure & Entertainment: Market Size and Forecast, 2019 – 2028
9.1 United States Buy Now Pay Later Leisure & Entertainment – Gross Merchandise Value Trend Analysis, 2019-2028
9.2 United States Buy Now Pay Later Leisure & Entertainment – Average Value Per Transaction Trend Analysis, 2019-2028
9.3 United States Buy Now Pay Later Leisure & Entertainment – Transaction Volume Trend Analysis, 2019-2028

10. United States Buy Now Pay Later in Healthcare and Wellness: Market Size and Forecast, 2019 – 2028
10.1 United States Buy Now Pay Later Healthcare and Wellness – Gross Merchandise Value Trend Analysis, 2019-2028
10.2 United States Buy Now Pay Later Healthcare and Wellness – Average Value Per Transaction Trend Analysis, 2019-2028
10.3 United States Buy Now Pay Later Healthcare and Wellness – Transaction Volume Trend Analysis, 2019-2028

11. United States Buy Now Pay Later in Other Segment: Market Size and Forecast, 2019 – 2028
11.1 United States Buy Now Pay Later Other Segment – Gross Merchandise Value Trend Analysis, 2019-2028
11.2 United States Buy Now Pay Later Other Segment – Average Value Per Transaction Trend Analysis, 2019-2028
11.3 United States Buy Now Pay Later Other Segment – Transaction Volume Trend Analysis, 2019-2028

12. United States Buy Now Pay Later Analysis by Consumer Attitude and Behaviour
12.1 Buy Now Pay Later Spend Share by Age Group
12.2 Buy Now Pay Later Gross Merchandise Share by Income
12.3 Buy Now Pay Later Gross Merchandise Value Share by Gender
12.4 Buy Now Pay Later Adoption Rationale

13. Further Reading
13.1 About PayNXT360
13.2 Related Research
List Of Table
Table 1: United States Buy Now Pay Later – Gross Merchandise Value Trend Analysis (US$ Million), 2019-2028
Table 2: United States Buy Now Pay Later – Average Value Per Transaction Trend Analysis (US$), 2019-2028
Table 3: United States Buy Now Pay Later – Transaction Volume Trend Analysis (Thousand), 2019-2028
Table 4: United States Buy Now Pay Later – Revenues (US$ Million), 2019-2028
Table 5: United States Buy Now Pay Later – Merchant Commission (US$ Million), 2019-2028
Table 6: United States Buy Now Pay Later – Missed Payment Fee Revenue (US$ Million), 2019-2028
Table 7: United States Buy Now Pay Later Pay Now & Other Income (US$ Million), 2019-2028
Table 8: United States Buy Now Pay Later – Accounts (Thousand), 2019-2028
Table 9: United States Buy Now Pay Later – Bad Debt (US$ Million), 2019-2028
Table 10: United States Buy Now Pay Later – Gross Merchandise Value by Online Channel (US$ Million), 2019-2028
Table 11: United States Buy Now Pay Later – Gross Merchandise Value by POS Channel (US$ Million), 2019-2028
Table 12: United States Buy Now Pay Later Retail Shopping – Gross Merchandise Value Trend Analysis (US$ Million), 2019-2028
Table 13: United States Buy Now Pay Later Retail Shopping – Average Value Per Transaction Trend Analysis (US$), 2019-2028
Table 14: United States Buy Now Pay Later Retail Shopping – Transaction Volume Trend Analysis (Thousand), 2019-2028
Table 15: United States Buy Now Pay Later Home Improvement – Gross Merchandise Value Trend Analysis (US$ Million), 2019-2028
Table 16: United States Buy Now Pay Later Home Improvement – Average Value Per Transaction Trend Analysis (US$), 2019-2028
Table 17: United States Buy Now Pay Later Retail Shopping Home Improvement – Transaction Volume Trend Analysis (Thousand), 2019-2028
Table 18: United States Buy Now Pay Later Leisure & Entertainment – Gross Merchandise Value Trend Analysis (US$ Million), 2019-2028
Table 19: United States Buy Now Pay Later Leisure & Entertainment – Average Value Per Transaction Trend Analysis (US$), 2019-2028
Table 20: United States Buy Now Pay Later Leisure & Entertainment – Transaction Volume Trend Analysis (Thousand), 2019-2028
Table 21: United States Buy Now Pay Later Healthcare and Wellness – Gross Merchandise Value Trend Analysis (US$ Million), 2019-2028
Table 22: United States Buy Now Pay Later Healthcare and Wellness – Average Value Per Transaction Trend Analysis (US$), 2019-2028
Table 23: United States Buy Now Pay Later Healthcare and Wellness – Transaction Volume Trend Analysis (Thousand), 2019-2028
Table 24: United States Buy Now Pay Later Other Segment – Gross Merchandise Value Trend Analysis (US$ Million), 2019-2028
Table 25: United States Buy Now Pay Later Other Segment – Average Value Per Transaction Trend Analysis (US$), 2019-2028
Table 26: United States Buy Now Pay Later Other Segment – Transaction Volume Trend Analysis (Thousand), 2019-2028
List of figures
Figure 1: PayNXT360’s Methodology Framework
Figure 2: United States Buy Now Pay Later – GMV and Adoption Rationale
Figure 3: United States Buy Now Pay Later – Share by Gender and Age Group
Figure 4: United States Buy Now Pay Later – Market Share Analysis by Key Players (%)
Figure 5: United States Buy Now Pay Later – Gross Merchandise Value Trend Analysis (US$ Million), 2019-2028
Figure 6: United States Buy Now Pay Later – Average Value Per Transaction Trend Analysis (US$), 2019-2028
Figure 7: United States Buy Now Pay Later – Transaction Volume Trend Analysis (Thousand), 2019-2028
Figure 8: United States Buy Now Pay Later – Revenues (US$ Million), 2019-2028
Figure 9: Buy Now Pay Later Share by Revenue Segments
Figure 10: United States Buy Now Pay Later – Merchant Commission (US$ Million), 2019-2028
Figure 11: United States Buy Now Pay Later – Missed Payment Fee Revenue (US$ Million), 2019-2028
Figure 12: United States Buy Now Pay Later Pay Now & Other Income (US$ Million), 2019-2028
Figure 13: United States Buy Now Pay Later – Accounts (Thousand), 2019-2028
Figure 14: United States Buy Now Pay Later – Bad Debt (US$ Million), 2019-2028
Figure 15: United States Buy Now Pay Later – Gross Merchandise Value Market Share by Channel (%), 2019-2028
Figure 16: United States Buy Now Pay Later – Gross Merchandise Value by Online Channel (US$ Million), 2019-2028
Figure 17: United States Buy Now Pay Later – Gross Merchandise Value by POS Channel (US$ Million), 2019-2028
Figure 18: United States Buy Now Pay Later – Market Share by End-Use Sector, 2021 Vs. 2028
Figure 19: United States Buy Now Pay Later – Market Share by End-Use Segment, 2021
Figure 20: United States Buy Now Pay Later – Market Share by Retail Product Category, 2021
Figure 21: United States Buy Now Pay Later Retail Shopping – Gross Merchandise Value Trend Analysis (US$ Million), 2019-2028
Figure 22: United States Buy Now Pay Later Retail Shopping – Average Value Per Transaction Trend Analysis (US$), 2019-2028
Figure 23: United States Buy Now Pay Later Retail Shopping – Transaction Volume Trend Analysis (Thousand), 2019-2028
Figure 24: United States Buy Now Pay Later Home Improvement – Gross Merchandise Value Trend Analysis (US$ Million), 2019-2028
Figure 25: United States Buy Now Pay Later Home Improvement – Average Value Per Transaction Trend Analysis (US$), 2019-2028
Figure 26: United States Buy Now Pay Later Home Improvement – Transaction Volume Trend Analysis (Thousand), 2019-2028
Figure 27: United States Buy Now Pay Later Leisure & Entertainment – Gross Merchandise Value Trend Analysis (US$ Million), 2019-2028
Figure 28: United States Buy Now Pay Later Leisure & Entertainment – Average Value Per Transaction Trend Analysis (US$), 2019-2028
Figure 29: United States Buy Now Pay Later Leisure & Entertainment – Transaction Volume Trend Analysis (Thousand), 2019-2028
Figure 30: United States Buy Now Pay Later Healthcare and Wellness – Gross Merchandise Value Trend Analysis (US$ Million), 2019-2028
Figure 31: United States Buy Now Pay Later Healthcare and Wellness – Average Value Per Transaction Trend Analysis (US$), 2019-2028
Figure 32: United States Buy Now Pay Later Healthcare and Wellness – Transaction Volume Trend Analysis (Thousand), 2019-2028
Figure 33: United States Buy Now Pay Later Other Segment – Gross Merchandise Value Trend Analysis (US$ Million), 2019-2028
Figure 34: United States Buy Now Pay Later Other Segment – Average Value Per Transaction Trend Analysis (US$), 2019-2028
Figure 35: United States Buy Now Pay Later Other Segment – Transaction Volume Trend Analysis (Thousand), 2019-2028
Figure 36: United States Buy Now Pay Later – Share by Age Group in Gross Merchandise Value Terms
Figure 37: United States Buy Now Pay Later – Share by Income Group in Value Terms
Figure 38: United States Buy Now Pay Later – Share by Gender in Value Terms
Figure 39: Buy Now Pay Later – Adoption Rationale Gross Merchandise Value Analysis
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