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Amazon鈥檚 opportunity: Bringing BNPL into the fold could ensure that Amazon doesn鈥檛 lose sales as the payment method gets more popular in Canada. By accepting BNPL鈥攔ather than avoiding third-party tie-ups, as it鈥檚 historically done鈥擜mazon is ensuring that customers who want to use BNPL don鈥檛 leave for a rival retailer like Walmart, which developed a BNPL solution for its co-brand users in Canada.

That buy now, pay later data, that growth rate is actually right in line with our forecasted growth rate overall. So you said buy now, pay later is grew at 20% year over year. That's exactly where we've got it at in our forecast for US buy now, pay later growth year over year. That's for a total of 72 billion this year.

During the same period, the number of BNPL users will rocket 37% to 112.7 million. And while crypto payer penetration lags, the number of payers will have almost doubled between 2021 and 2025, reaching 5.0 million. In each of these cases, Gen Zers and millennials are driving growth. Tap-and-pay has become the preferred way to pay in-store.

They鈥檙e also a major BNPL audience: 31.0 million (42.2%) US millennials will use BNPL services this year, per our forecast. See the interactive Payment Flexibility demand chart in the Appendix. No. 6: Redeeming Rewards. Category Value: 11.7% of total points. Earned rewards are useless if customers can鈥檛 spend as they choose.

Shoppers will lean on BNPL. Globally, BNPL volumes jumped up 237% YoY in the first half of 2024, per ACI Worldwide. ACI expects this bump to carry into the holiday shopping season: Many consumers want flexible payment options to ease their financial concerns. But consumers may be stretching themselves thin.

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By 2028, more than half (50.2%) of US smartphone users will be proximity mobile payment users, accounting for 132.6 million people, per our March 2024 forecast. 39% of retailers in Australia, North America, and the UK plan to provide more payment options, such as BNPL, to stay competitive in 2024, according to a January 2024 report by Square. The prediction: 鈥滲iometric checkout has a lot of legs.

Ecommerce sales growth in Australia hit 25% year over year (YoY) in 2021 but slowed to 4% the following year, according to Insider Intelligence forecasts. Australia was already a competitive market to operate in鈥攊t鈥檚 home to BNPL giants like Block-owned Afterpay and Zip, and other providers like Klarna and PayPal have also moved in.

The partnership is part of the BNPL provider鈥檚 operational overhaul and pivot to a fully white-label strategy

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.

Expanding audience reach requires targeting the correct consumers. While true one-to-one advertising is still a dream, similar outcomes can be achieved by reaching the right audiences through affiliate marketing, paid social, and buy now, pay later (BNPL). 鈥淭his whole trend around personalization really applies to audiences as well,鈥� David Gill, vice president of consumer insights at Rakuten Advertising, said during our recent 鈥淢aster the Holidays with Winning Performance Marketing Strategies鈥� Tech-Talk Webinar. Data from affiliate marketing and social platforms can be used to identify which kinds of consumers brands should be reaching out to in order to expand their customer base.

Apple鈥檚 credit card, BNPL product, and savings account put it in direct competition with financial services incumbents. With 130.1 million US iOS users loyal to its unsurpassed UX and dominant digital platform, the threat will only grow.

We forecast the number of Google Pay users in the US will grow 8.2% this year to reach more than 26 million in 2023. Adding features and products鈥攍ike BNPL鈥攃an make Google Pay simpler and more convenient. Meta:. Facebook Pay rebranded as Meta Pay, bringing the payments suite in line with Meta鈥檚 grand plans for the metaverse.

GreenSky may be an attractive acquisition as consumers rely more on BNPL for essential purchases

On today's podcast episode, in our "Retail Me This, Retail Me That" segment, we discuss how Gen Zers discover products; where they stand on buy now, pay later; and how loyal they really are to brands. Then, for "Pop-Up Rankings," we rank three campaigns that really worked with Gen Z. Join our analyst Sara Lebow as she hosts analyst Arielle Feger and editor Catherine Ollinger.

US P2P transaction value is expected to surpass $2.271 trillion in 2026, more than double the value in 2022, per our forecast. And Venmo is expected to get a huge chunk of this: The company鈥檚 P2P transaction value is expected to hit $538.88 billion in 2026, per our forecast. To take ultimate advantage of Venmo鈥檚 growth, PayPal is on a journey to monetize the app by expanding services beyond P2P.

To view the full forecast, click the above chart. Gen Z Wants to Pay Digitally鈥擡ven in Person. Gen Z鈥檚 love of digital payments is well known, especially for peer-to-peer apps like Venmo and buy now, pay later (BNPL) options.

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.

The US mPOS market will grow at a 9.3% average annual rate from 2023 to 2027, more than five times faster than in-place hardware, per our forecasts.

Networks are using their open banking technology to power BNPL solutions. For example, Mastercard Installments relies on the technology the company gained access to when it acquired Finicity and Aiia. And the BNPL sector is a huge volume opportunity: US BNPL volume will hit $143.44 billion in 2026, per our forecast. Increased digital ID capabilities.

Buy now, pay later (BNPL) has thrived because it combines the flexibility of credit with short repayment terms, app-based shopping, and a simple user experience.

Consumers will likely hold out for value, look for deals, and increase reliance on credit and flexible payment options such as buy now, pay later (BNPL) to support holiday spending, per Salesforce. Physical stores are poised for a seasonal rebound. In-store holiday sales growth will more than double the full-year growth rate.