PaymentsJournal
No Result
View All Result
SIGN UP
  • Commercial
  • Credit
  • Debit
  • Digital Assets & Crypto
  • Digital Banking
  • Emerging Payments
  • Fraud & Security
  • Merchant
  • Prepaid
PaymentsJournal
  • Commercial
  • Credit
  • Debit
  • Digital Assets & Crypto
  • Digital Banking
  • Emerging Payments
  • Fraud & Security
  • Merchant
  • Prepaid
No Result
View All Result
PaymentsJournal
No Result
View All Result

Characteristics of Buy Now Pay Later Consumers:

By PaymentsJournal
April 27, 2021
in Credit, Lending, Truth In Data
0
0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn

Don’t miss another episode of Truth In Data! Click on the red bell in the lower-left of your screen to receive notifications as soon as the episode publishes.

Data for today’s episode is provided by Mercator Advisory Group’s Viewpoint: 2021 North American PaymentsInsights – Buy Now Pay Later

Characteristics of Buy Now Pay Later Consumers:

  • BNPL is more popular than short-term loans. Usage skews toward younger, middle income consumers and those without sufficient credit.
  • Typical consumer profile for BNPL short-term loans: 18-24 and tech savvy.
  • Typical BNPL consumers will also have an annual income around $75-149K and will be equally distributed nationally.  
  • Buy Now Pay Later loans are procured online and in-person an equal amount. A BNPL loan is likely to be a last-minute decision at checkout.
  • Zero interest loans are more widely available for online purchases, while in-store purchases are 
  • more likely to involve interest.
  • More BNPL loans are issued by the retailer, while short-term financing was more likely to be provided by a third-party lender.

About Report

Mercator Advisory Group has released a new primary research report titled 2021 North American PaymentsInsights – Buy Now Pay Later, summarizing the findings from the BNPL and short-term financing sections of the semi-annual North American PaymentsInsights survey of 3,001 U.S-based adults. The report aims to highlight and analyze consumer behaviors, preferences, and motivations as they relate to the rapidly expanding range of point-of-sale financing products. Readers will be presented with a detailed analysis of the impact of demographic characteristics on consumer behaviors and inclinations, general consumer trends, as well as actionable recommendations for industry players.

“The rise of buy now, pay later financing and short-term loans has implications for the consumer credit space as a whole, particularly credit card networks and issuers that have long dominated the industry. With interest rates at record lows, accelerated adoption of online shopping over the past 12 months, and high consumer satisfaction – the conditions have never been better for the reimagining of consumer credit,” stated Amy Dunckelmann, Vice President, Research Operations, Mercator Advisory Group.

0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn
Tags: BNPLBuy Now Pay LaterConsumer LendingLendingRetailRetailersTruth In Data

    Get the Latest News and Insights Delivered Daily

    Subscribe to the PaymentsJournal Newsletter for exclusive insight and data from Javelin Strategy & Research analysts and industry professionals.

    Must Reads

    embedded lending

    Embedded Lending as a Growth Strategy for ISVs—How to Maximize Revenue Potential

    June 18, 2025
    merchant ai

    Merchants Find More Use Cases for AI Amid Risks

    June 17, 2025
    prepaid payroll

    Taking the Check Out of Paycheck: The Role of Prepaid in Payroll

    June 16, 2025
    Banking-as-a-service BaaS

    Remodeling Main Street: How Community Banks Can Leverage the Banking-as-a-Service Paradigm

    June 12, 2025
    How Employee Performance Enhances the Customer Experience

    Three Strategies to Maximize Loyalty in the AI-Driven World 

    June 11, 2025
    PFM tools

    How FIs Are Cutting Through Subscription Clutter with PFM Tools

    June 10, 2025
    child identity theft

    Stranger Danger: Protecting Your Children from Identity Theft

    June 9, 2025
    agentic commerce

    The Agentic Advent: How the Next Iteration of AI is Shaping Commerce

    June 6, 2025

    Linkedin-in X-twitter
    • Commercial
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Digital Banking
    • Commercial
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Digital Banking
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    • About Us
    • Advertise With Us
    • Sign Up for Our Newsletter
    • About Us
    • Advertise With Us
    • Sign Up for Our Newsletter

    ©2024 PaymentsJournal.com |  Terms of Use | Privacy Policy

    • Commercial Payments
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    No Result
    View All Result