Buy Now Pay Later: The Model Changing the Way Credit Works

AfterPay, Klarna, Affirm, and more are garnering a lot of press value in recent times as consumers show aversion towards debt accumulation. Let the number talk about the in-focus buzz of the Buy Now Pay Later app in and around the FinTech solutions.

The above-mentioned data has been sourced from Cornerstone Advisors.

As per the data, the number of Gen Z populace in the U.S. leveraging Buy Now Pay Later has increased by as much as six times to nearly 36% in 2021 from 6% in 2019. Besides this, millennials are the target audience of the Buy Now Pay Later model at least twice from 2019. It has reached nearly 41% in 2021 in the U.S.

Not only does the Buy Now Pay Later model become popular as an integrated solution but also as an e-wallet solution. It has joined the league of the mainstream mobile banking solutions and is now about to reign the digital payment vicinity. READ MORE : Buy Now Pay Later: The Model Changing the Way Credit Works