Posted 12/18/2023, 5:25:29 PM
Buy Now, Pay Later Spending Soars 15% to Nearly $65 Billion as Affirm and Rivals Gain Steam
- BNPL spending reached $64.9B through November 2022, up 15% YoY (Adobe)
- Services like Affirm and PayPal's BNPL are surging in popularity and adoption
- Allows consumers to split payments over time with no late fees, fueling more spending
- Wins for consumers and retailers, but questions remain around risks and data availability
- Affirm stock up 340% YTD as leader, though competition rising from PayPal/Afterpay