Banking On Buy Now, Pay Later: Installment Payments And FIs' Untapped Opportunity

Report: 70% Of BNPL Users Would Use Bank Installment Options, If Available Seventy percent of BNPL users say they’d rather use installment plans offered by their banks — if only they were made available. PYMNTS’ Banking On Buy Now, Pay Later: Installment Payments And FIs' Untapped Opportunity, an Amount collaboration, surveyed more than 2,200 U.S. consumers to better understand how consumers view banks as BNPL providers in a sea of BNPL pure-plays.
Inside the January Survey
  • 50M: Number of consumers who have used BNPL plans over the past 12 months
  • 43%: Share of consumers interested in using BNPL plans offered by their banks rather than FinTechs
  • 47%: Portion of consumers earning at least $100,000 annually who are interested in using bank-backed BNPL plans

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