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The pandemic's impact and BNPL's overall rise in popularity will lead the industry to rack up $680b in transaction volume worldwide in 2025. That forecasts a compound annual growth rate (CAGR) of 13.23% from the $285b the industry was estimated to record in 2018. While some BNPL solutions are available in-store, they are native to ecommerce checkout, making them more widely available when shopping online. And with ecommerce sales climbing an estimated 44.4% year-over-year (YoY) in Q2 2020, more consumers may choose to use BNPL solutions more regularly, if they haven't already.
The pandemic left millions of consumers unemployed and financially insecure, and in need of greater flexibility with their purchases. On the other hand, many consumers actually paid off debt during the crisis, making interest-free BNPL solutions an attractive alternative to racking up another high credit card balance.
https://www.businessinsider.com/buy-now-pay-later-ecommerce-financing-and-consumer-credit
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