Afterpay

The Next Pedestal of the Payments War for Banks and FIs: Buy Now Pay Later

Buy Now Pay Later (BNPL) has seen remarkable growth in recent years and is on track to achieve a global market value of US$700b by 2023. This 90% compound annual growth rate (CAGR) reflects the growing penetration of this simple transactional instrument—consumers purchasing a product now with the agreement to pay for it later.

The Next Pedestal of the Payments War for Banks and FIs: Buy Now Pay Later

Buy Now Pay Later (BNPL) has seen remarkable growth in recent years and is on track to achieve a global market value of US$700b by 2023. This 90% compound annual growth rate (CAGR) reflects the growing penetration of this simple transactional instrument—consumers purchasing a product now with the agreement to pay for it later.

BNPL continues to gain traction with Square’s $29b acquisition of Afterpay

Afterpay accounts for 7.7% of Australia’s e-commerce market.