According to PayNXT360, BNPL payment in the United States is expected to grow by 71.5% on annual basis in 2021 | market dynamics | growth opportunities | market share by key players

The BNPL market in the United States gained a significant attraction in the last decade. One of the primary reasons for this is the favorable regulatory framework. Government support and increasing demand make the BNPL market a lucrative investment opportunity for many domestic and international companies. Moreover, the ease of doing business in the BNPL sector is encouraging large financial institutes and banks to expand their business in this segment. According to PayNXT360’s Q2 2021 BNPL Survey, BNPL payment in the country is expected to grow by 71.5% on annual basis to reach US$ 697.1 million in 2021.

BNPL providers are taking several strategic initiatives to increase to gain market share in the United States. From mergers and acquisitions to launching a new payment gateway for simplified BNPL enablement are some of the key strategies that helped BNPL players to extend their product offerings to new merchants in the market. For instance,

In April 2021, the homegrown BNPL firm, Affirm announced the acquisition of Returnly, a return payment platform. In a deal valued at US$300 million, the acquisition of Returnly shows how BNPL providers are mapping out their growth strategies by moving beyond just being a digital form of layaway.

Primarily focused on the consumer segment, the BNPL sector has also started to gain momentum in the B2B space. Notably, leading consumer-focused BNPL brands are creating spinout products for their entry into the B2B space. For instance,
San Francisco-based Affirm spinout, Resolve, launched a new BNPL product for B2B transactions. Since its launch in 2019, the B2B deferred payment solution has seen significant demand for its flexible payment solution targeted towards business purchases. Resolve has built an automated underwriting process, helping the BNPL platform with faster invoice payment and, subsequently, improved cash flow.

Medium to long term growth story of BNPL industry in United States remains strong. The BNPL payment adoption is expected to grow steadily over the forecast period, recording a CAGR of 27.2% during 2021-2028. The BNPL Gross Merchandise Value in the country will increase from US$ 25272.2 million in 2020 to reach US$ 224729.6 million by 2028.

Scope

This report provides in-depth, data-centric analysis of Buy Now Pay Later industry in United States. Below is a summary of key market segments:
United States BNPL Market Size and Spending Pattern
• Gross Merchandise Value Trend Analysis
• Average Value Per Transaction Trend Analysis
• Transaction Volume Trend Analysis

United States Buy Now Pay Later Operational KPIs
• Buy Now Pay Later Revenues, 2019 – 2028
• Buy Now Pay Later Share by Revenue Segments
• Buy Now Pay Later Merchant Commission, 2019 – 2028
• Buy Now Pay Later Missed Payment Fee Revenue, 2019 – 2028
• Buy Now Pay Later Pay Now & Other Income, 2019 – 2028
• Buy Now Pay Later Active Consumer Base, 2019 – 2028
• Buy Now Pay Later Bad Debt, 2019 – 2028

United States Buy Now Pay Later Market Share Analysis by Key Players
United States Buy Now Pay Later Spend Analysis by Channel: Market Size and Forecast
• Online Channel
• POS Channel

United States Buy Now Pay Later in Retail Shopping: Market Size and Forecast
• Gross Merchandise Value Trend Analysis
• Average Value Per Transaction Trend Analysis
• Transaction Volume Trend Analysis

United States Buy Now Pay Later in Home Improvement: Market Size and Forecast
• Gross Merchandise Value Trend Analysis
• Average Value Per Transaction Trend Analysis
• Transaction Volume Trend Analysis

United States Buy Now Pay Later in Leisure & Entertainment: Market Size and Forecast
• Gross Merchandise Value Trend Analysis
• Average Value Per Transaction Trend Analysis
• Transaction Volume Trend Analysis

United States Buy Now Pay Later in Healthcare and Wellness: Market Size and Forecast
• Gross Merchandise Value Trend Analysis
• Average Value Per Transaction Trend Analysis
• Transaction Volume Trend Analysis

United States Buy Now Pay Later in Other: Market Size and Forecast
• Gross Merchandise Value Trend Analysis
• Average Value Per Transaction Trend Analysis
• Transaction Volume Trend Analysis

United States Buy Now Pay Later Analysis by Consumer Attitude and Behaviour
• Buy Now Pay Later Sales Uplift by Product Category
• Buy Now Pay Later Spend Share by Age Group
• Buy Now Pay Later Gross Merchandise Share by Income
• Buy Now Pay Later Gross Merchandise Value Share by Gender
• Buy Now Pay Later Adoption Rationale Gross Merchandise Value Analysis

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Reason to buy
• In-depth Understanding of Buy Now Pay Later Market Dynamics: Understand market opportunities and key trends along with forecast (2019-2028). Understand market dynamics through essential KPIs such as Gross Merchandise Value, Volume, and Average Value Per Transaction.

• Insights into Opportunity by end-use sectors – Get market dynamics by end-use sectors to assess emerging opportunity across various end-use sectors.

• Develop Market Specific Strategies: Identify growth segments and target specific opportunities to formulate BNPL strategy; assess market specific key trends, drivers, and risks in the BNPL industry.

• Get Insights into Consumer Attitude and Behaviour: Drawing from proprietary survey results, this report identifies and interprets key Buy Now Pay Later KPIs, including spend by age, gender, and income level.

• Market Share by Key Players

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PayNXT360 is a strategy research and consulting firm providing a business intelligence on BNPL, prepaid cards, digital & mobile wallets, embedded finance, digital lending, remittance, and innovative payment solutions. Through exhaustive databases and in-depth analyst reports, we offer detailed and unbiased insights into emerging opportunities and risks across global markets. For more information, please visit our website www.paynxt360.com