蘑菇AV

And now, with the launch of Apple Pay Later, it may become a fast favorite among teen buy now, pay later (BNPL) users. We forecast that the number of US Gen Z BNPL users will grow 16.1% this year to reach 26.3 million. And that number will keep growing: By 2026, BNPL users will make up over half (50.1%) of Gen Z consumers. Save the planet鈥攁nd some money.

Emirati paytech Tabby secured $58M in a sign of investor confidence in the region鈥檚 BNPL market potential.

The company has been beefing up its BNPL capabilities ever since its exclusivity period with Affirm ended earlier this year

The launch highlights Bread鈥檚 post-rebrand growth strategy, and diversified offerings should help Bread compete in the shaky BNPL market.

It already has 36.3 million US proximity payment users, per our forecast, and getting access to Apple鈥檚 132.5 million iPhone owners (of whom 61.3 million use Apple Pay) could be a game changer. It could also be a big opportunity for other device-agnostic payments apps that don鈥檛 offer contactless payments鈥攍ike BNPL firms Klarna and Affirm. That could help them finally break into in-store retail.

Shoppers get a little help from BNPL. The stat: On Cyber Monday, shoppers used buy now, pay later (BNPL) services to pay for $940 million worth of online purchases, the biggest day ever for BNPL, per Adobe Analytics. What it means: BNPL is here to stay, particularly among millennials and Gen Zers, who will represent 60 million BNPL users next year, per our June 2023 forecast.

If Cyber Five trends hint at what to expect from the rest of the holiday season, expect buy now, pay later (BNPL) to be a big hit.

Apple鈥檚 long-teased buy now, pay later service is finally here, but what can it bring to an already crowded table? Our analysts unpack who may use Apple Pay Later and evaluate five of its prerelease features to see how they stack up to consumer demand.

Affirm and Splitit struck partnerships to shore up growth as market uncertainty takes a toll on the BNPL sector.

The buy now, pay later (BNPL) provider鈥檚 transactions grew 10% YoY over the holiday weekend. The number of Afterpay app users jumped 8% YoY. Afterpay attracted users across all demographics: 26% were Gen Zers, 44% were millennials, 24% were Gen Xers, and 6% were boomers. The top spending categories outside of fashion and beauty were personal care, followed by household supplies.

Mobile wallet use is driving this trend, bringing wallet-based payments options like buy now, pay later (BNPL) and cryptocurrency along with it. They can also help merchants maximize ecommerce sales growth. Mobile wallets play a key role here, too. Payment providers can also expand online payment methods, boost authorization rates, and speed up wallet-based checkout.

US BNPL payment value is projected to reach $143.44 billion by 2026, per our forecasts. Keep reading: To learn more about the current challenges BNPL companies face amidst market volatility, check out our Era of Uncertainty: Buy Now, Pay Later report. This article originally appeared in Insider Intelligence's Payments Innovation Briefing鈥攁 daily recap of top stories reshaping the payments industry.

The BNPL provider has been prepping for this for years. Its profitability push and cost-cutting initiatives should set it up for a strong listing

Buy now, pay later (BNPL) will play a major role in how consumers shop this holiday season as they seek out budget-friendly ways to pay. To capture a bigger share of holiday sales, BNPL provider Klarna has introduced a new suite of tools to help bridge the digital-physical gap with AI-powered technology and shoppable media.

And PayPal鈥檚 enhanced one-time checkout increased buy now, pay later (BNPL) use by 15% to 20%. Making Venmo profitable. One tool PayPal is using is the Venmo Debit Card. In Q3, monthly active debit card accounts grew 30% YoY. But that鈥檚 just 5% of active Venmo accounts, showing room for growth. We forecast US Venmo users will total 76.4 million in 2025.

The BNPL provider embarked on a full restructure to regain growth and achieve profitability

For example, despite their growth, buy now, pay later (BNPL) services are used by only about 4% of US social commerce buyers, per our March 2024 survey. But they鈥檙e used by 11% of US digital buyers overall, per our April 2024 survey conducted by Bizrate Insights.

The firm鈥檚 worldwide ecommerce retail sales are expected to grow nearly 14% year over year (YoY) in 2023 and reach $746.22 billion, per Insider Intelligence forecasts. After Affirm partnered with Amazon, for example, its fiscal Q2 2022 volume surged 115% YoY. And Amazon鈥檚 push into payments can open new opportunities for Stripe.

If you want to learn how to get insights like these delivered to your inbox every day, and get access to our data-driven forecasts, reports, and industry benchmarks, schedule a demo with our sales team.

Ingenico and Splitit are focused on cutting customer friction to grow their in-store BNPL presence.