12/11/2023 0 Comments Buy now pay later clothes websitesThe sector has been able to grow so rapidly partly due to a lack of regulation. View Sample Report for Additional Insights on the BNPL Market Forecast, Download a Free Report Sample This brings about the importance of regulating the sector to subdue the vicious cycle of passing on the borrowers’ debt to BNPL providers, which is further passed on to credit agencies, negatively impacting their credit scores.īuy Now Pay Later Market Outlook, 2019-2026 ($ billion) More the debt, the customers will have to pay late fees in case of delays. For instance, if a borrower defaults on an installment it could potentially accumulate to amount of debt. The payment method has emerged as a popular choice with GenZ and Millennials.Īlthough the BNPL market is gaining traction, the apparent benefits of BNPL could also pose a risk for both the borrowers and lenders. BNPL over the last couple of years has gained popularity as an alternative credit option, a trend expected to continue during the forecast period. Online payments are rapidly growing as more consumers are taking advantage of online shopping thereby favoring BNPL market growth. The Buy Now Pay Later (BNPL) market size will be valued at $309.2 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 25.5% over the forecast period. To Get a Snapshot of the BNPL Market Report, Download a Free Report Sample Buy Now Pay Later Market Report Overview We recommend this valuable source of information to anyone involved in:
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