Buy Now Pay Later Market Size, Share, Growth Analysis, By Channel(Point of Sale, Online), By Landing Type(Point of Sale, Personal Loans, Private-level Credit Cards, General-purpose Credit Cards), By Enterprise Size(Large Enterprises, and Small & Medium Enterprises), By Industry(e-Commerce & Retail (Consumer Electronics, Fashion & Garment and Others), Healthcare, Leisure & Entertainment), By Region - Industry Forecast 2024-2031

• Consumer preferences have been evolving rapidly and this evolution has led to high preference and demand for flexible payment options. Buy now pay later services offer just that by allowing consumers to purchase the product in easy installments to ease the financial burden of purchase thereby driving market growth.  

Adoption in Offline Retail 

• Buy now pay later solutions and services are widely used and accepted in online retail and e-commerce channels but their increasing adoption in offline retail establishments is projected to bolster market development in the future. Growing availability of buy now pay later in brick and mortar stores will help companies expand their business scope.  

Restraints 

Concerns Regarding Bad Debt 

• Buy now pay later companies provide their services to a broader spectrum of consumers and some of them might not have a good credit history which leads to an increase in the amount of bad debt that buy now pay later companies carry. Concerns regarding this bad debt could hamper the overall growth potential of the market.  

Lack of Consumer Awareness 

• Although buy now pay later is a popular service known to many, lack of consumer awareness still is a major restraint for market growth. This is especially true for underdeveloped economies where the retail landscape is not as developed. This inhibits market players from unlocking the full potential of market growth in the future.