UK Buy Now Pay Later (BNPL) Market is Predicted to Reach USD 58.72 Billion by 2030

According to the study by Next Move Strategy Consulting, the UK Buy Now Pay Later (BNPL) Market size is predicted to reach USD 58.72 billion, at a CAGR of 22.2% by 2030.

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The surge in the Buy Now Pay Later (BNPL) market is largely fueled by the preferences of Millennials and Gen Z. These younger demographics exhibit a distinct inclination toward BNPL services due to their inherent value for financial flexibility and aversion to traditional credit card models.

The expansion of the Buy Now Pay Later (BNPL) market trend is significantly fueled by its unparalleled convenience for consumers.

High fees and interest rates in the buy now, pay later (BNPL) market pose potential obstacles to its growth by deterring consumer participation. This hesitancy to use BNPL options may limit market expansion and undermine consumer trust. To address this challenge, BNPL providers must carefully manage their fee structures and interest rates to ensure affordability while remaining competitive.

The market players operating in the UK buy now pay later industry include Affirm Holdings, Inc., Atome, Block, Inc. (Square), Klarna Bank AB (PULP), Latitude, Openpay, PayPal Holdings, Inc., Sezzle, Scalapay, Zip Co Ltd. (Zip), and others.