BNPL
“ Boomers are the fastest-growing user group of BNPL across the industry ”
RICH BAYER UK COUNTRY MANAGER , CLEARPAY
the start of 2024 , up from 36 % a year prior . Stateside , Juniper Research says the number of BNPL users is anticipated to exceed 94 million by the end of 2024 , an increase of more than 40 million people in the space of three years .
Globally , the figure is forecast to hit 900 million by 2027 .
To those on the outside , the rise of this game-changing payment method appears relatively staggering , but those in the industry are , understandably , less shocked .
“ I ’ m not surprised by the rapid rise of BNPL because the traditional credit industry is designed to serve banks and credit card providers – at the expense of consumers ,” says Richard Bayer , UK Country Manager at Clearpay , a specialist in BNPL solutions whose technology is used by many of the world ’ s biggest retailers .
“ In complete contrast , Clearpay was created with economic empowerment in mind , allowing people to take control of their finances , with access to flexible payments that don ’ t charge interest .”
Perhaps more surprising is BNPL ’ s increasing use across all age groups , with a report produced by Clearpay and Oxford Economics finding it is no longer just being adopted by Gen Z and Millennials .
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