Number of Buy Now, Pay Later US Users (2023–2027)
As an ecommerce business, one consumer demand you need to cater to is the ability of your shoppers to pay for their purchases over several installments, interest free. After all, it’s one of the top reasons people shop online.
The buy now, pay later (or BNPL) payment plan is one such option. Even though it’s been around for decades, the popularity of BNPL surged over the past couple of years as consumers pivoted to online shopping. Today, it ranks among the top online payment methods worldwide. In fact, more than half of consumers say they used the buy now, pay later service during the pandemic.
So then, how many buy now, pay later US users are there?
How many buy now, pay later US users are there?
According to the latest buy now, pay later statistics, the number of shoppers in the US opting for this payment method is expected to hit 93.3 million in 2024.
The number of buy now, pay later US users in 2024 marks an 13.6% annual increase. This growth may be impressive, but it’s actually a significant slowdown from the previous year. In 2023, the number of buy now, pay later US users soared 18.7% from 2022 to hit 82.1 million.
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These buy now, pay later statistics also show that its adoption is set to continue increasing over the next few years, but at a much slower pace. The number of buy now, pay later US users is forecast to climb to 100.8 million in 2025, surpassing the 100 million milestone for the first time. This constitutes an 8.1% annual increase.
In 2026, this figure is forecast to rise by 6.7%, to 107.5 million users. Experts predict that, by 2027, there will be 112.7 million online shoppers in the US choosing the buy now, pay later payment option. From 2023 to 2027, the popularity of buy now, pay later among US consumers is expected to rise by a total of 30.6 million users. This represents an overall increase of 37.3% and an average annual growth rate of 8.3% in four years.
These buy now, pay later statistics on usage are in line with its growing market size. In 2023, buy now, pay later payment values registered at $71.9 billion. This number is set to hit $124.8 billion by 2027.