The 2022 Global Consumer Payments Study highlights a growing consumer demand for payment flexibility, spotlighting Buy Now, Pay Later (BNPL) as a significant opportunity for financial service providers to enhance customer relevance and differentiation. With BNPL's user base projected to rise from 360 million in 2022 to nearly a billion by 2027, factors such as digital advancements and bank involvement are key to this growth. Banks are positioned to significantly extend BNPL's reach and effectiveness. This report underscores the potential of BNPL in banking to boost credit utilization and card income, advocating for its integration to cater to consumer financial wellness, leverage merchant networks, and navigate regulatory landscapes effectively.

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