Buy Now Pay Later (BNPL) Market Share

Buy Now Pay Later Market Share

Klarna Inc. & Afterpay Limited hold a significant share of over 35% in the BNPL industry. Klarna Inc.'s innovative consumer finance methodology and global reach have enabled the company to occupy a considerable stake in the market. Since its founding in Sweden in 2005, Klarna has grown quickly to become one of the leading providers of business-to-business loans, catering to millions of customers globally. The reason behind the company’s success is its easy-to-use platform, which provides a smooth and adaptable buying experience.
 

Customers have clear terms, no hidden costs, and the option to pay now, later, or in instalments. Klarna's acceptance and awareness have increased owing to its strategic relationships with large online and offline merchants. The company has gained a significant market share owing to its strong brand recognition, emphasis on client satisfaction, and creative financial solutions.
 

Similarly, Afterpay Limited has made a big impact in the BNPL space, especially in Australia, where it was founded, as well as in the U.S., the UK, and other foreign markets.
 

Offering interest-free installment plans is the foundation of Afterpay's business model, which was established in 2014 and makes it a desirable choice for customers looking to avoid the typical credit card interest rates and fees. The company has seen rapid development with a particular emphasis on the millennial and Gen Z groups, who are lured to the financial flexibility and simple repayment terms. Owing to its diverse range of retail alliances, the brand can be widely adopted at checkout points, both online and in real stores.
 

Buy Now Pay Later Market Companies

Major players operating in the BNPL industry are:

• Klarna Inc.
• Afterpay Limited
• Affirm Holdings Inc.
• PayPal Holdings Inc.
• Sezzle
• Splitit Payments Ltd.
• Zip Co, Ltd.