BASINGSTOKE, England, Oct 25 (Bernama-BUSINESS WIRE) — A new study from Juniper Research has found consumer spending using BNPL (Buy Now, Pay Later) platforms will reach $437 billion globally in 2027; rising from $112 billion in 2022. This sizeable growth of 291% will be driven by escalating financial pressures from the rising cost of living, increasing demand for cheap credit solutions.
BNPL schemes allow consumers to pay using regular interest-free instalments, which is attractive to those reliant on credit for purchases. Additionally, BNPL only requires soft credit checks; making it easier to access than credit.
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