The use of buy-now-pay-later (BNPL) services spiked on Cyber Monday as consumer spending reached a record $991.2 million that day. Consumers spent $75.1 billion using BNPL in 2024 – up 14% from 2022. According to a Federal Reserve Bank of Philadelphia survey, BNPL consumers tend to be younger and are more likely to have difficulty obtaining other forms of credit.
BNPL Sector Sees Record High Issuance in 2024
Published on December 20, 2024
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