NEWARK, Del, Sept. 01, 2022 (GLOBE NEWSWIRE) -- The buy now pay later platform market is expected to create an absolute dollar opportunity across the forecast period from 2021 to 2031 with an impressive CAGR of 22.4% with total market revenue of US$ 5.2 Bn in 2020 and expected market revenue of about US$ 46.9 Bn by 2031. The historical evaluation of the buy now pay later platform market exhibited a robust CAGR of 17.6% between 2016 and 2020.

The continuous advancements in the e-commerce sector have led to significant transformations in the payment processing sector with the emergence of new digital payment technologies and shifting consumer values. This evident shift in consumer preferences, far from traditional credit options offers interest-free borrowing and budgeting features which is fueling growth in the market.

According to the FMI projections, the buy now pay later platform market is expected to excel with rising competition prevalent across the globe. As per the forecast, the top 5 global players accounted for approximately 49.0% of the total market in 2020.

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Key Players

Competitive Landscape

The global market leaders in the buy now pay later platform industry are focusing on advanced and innovative solutions that meet the ever-evolving market demands across various organizations. A large number of retailers are directed towards accepting such point-of-sale and online installment loans as payment methods, thereby creating opulent growth opportunities for the BNPL solution providers.

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More Insights into the Buy Now Pay Later Platform Market

Europe is expected to dominate the global buy now pay later platform market by accounting for a total CAGR of 29% between 2021 and 2031. Retail finance is considered to be a convenient way for shoppers in the U.K. In fact, the market is attracting big giants to be a part of the market such as PayPal, Amazon, and Apple.

The United States is expected to accelerate immensely with an impressive CAGR of about 27% over the forecast period. There is significant growth registered in the market with BNPL’s participation in various sectors.

When it comes to offering financial flexibility with convenient interest-free monthly installments is certainly appealing to shoppers in Mexico, resulting in total revenue of US$ 145 Mn in 2020 in the buy now pay later platform sales.

Buy Now Pay Later Platform Outlook by Category

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Table of Content

1. Executive Summary

1.1. Global Market Outlook

1.2. Demand Side Trends

1.3. Supply Side Trends

1.4. Analysis and Recommendations

2. Market Overview

2.1. Market Coverage / Taxonomy

2.2. Market Definition / Scope / Limitations

3. Key Market Trends

3.1. Key Trends Impacting the Market

3.2. Technology Innovation / Development Trends

3.3. Pricing Model Analysis

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