BNPL is disrupting the payments industry. Its rapid acceleration is largely due to the convenience and flexibility it affords consumers and the benefits it offers providers. As this alternative payment method increases in popularity and merchant behaviours adapt to the phenomenon, discover the evolving trends and future predictions with RFI Global’s latest report.
Consumers are embracing new channels and payment options and providers are taking note.
Over the last two years, we have witnessed an acceleration in the decline of cash, with digital payment methods filling the gap. This change in customer behaviour has created opportunities for BNPL, with more consumer spend moving online and a new attitude towards credit.
Our latest report details key drivers of usage, the reason behind Gen Z and Millennials’ interest and the merchant benefits. We also explore how traditional banks and BNPL providers can maintain the momentum and leverage opportunities as BNPL expands globally.
- The brands with the highest rates of awareness globally include Afterpay in Australia, the UK and US, Ant Check Later in China, Amazon Pay Later and Flipkart PayLater in India and Atome and Hoolah in Hong Kong and Singapore. PayPal Pay in 4 also sees high rates of awareness across markets.
- Across markets, it is typically Gen Z and Younger Millennials driving adoption of BNPL.
- In Australia, Gen Z and Younger Millennials were the early adopters of BNPL but there has been a significant increase in usage among older Millennials and Gen X. This trend can also be observed in markets including the UK and US.
As more key financial players integrate BNPL options into their business models, download your complimentary copy today and stay ahead of the curve.
A Global View of BNPL
With a growing preference for cashless transactions driven by recent global events, discover key adopters and drivers.
BNPL Customer Profile
Whether it’s digital-savvy Gen-Z or risk-averse millennials, uncover BNPL’s key consumer segments.
A Share of the Pie
From market-leading Klarna to new entrants, discover insights on key players in the BNPL landscape.