45% of Consumers Used Credit Card Installment Plans In Past Year

Installment Plans Becoming a Key Part of Shopper’s Toolkit

The difference between installment plans and BNPL for many consumers is confusing so, when asked, they’re not always sure. A new PYMNTS Intelligence study of 2,572 U.S. consumers gets to the heart of the matter to examine how consumers use installment plans – merchant versus credit card – and BNPL. The results may surprise you. Read more in “Installment Plans Becoming a Key Part of Shopper’s Toolkit,” a collaboration with Splitit.

Inside the September Study
  • 65%: Share of Gen Z consumers who have used an installment plan in the last year
  • 74%: Portion of installment plan users who name better spending management as a reason to use a plan
  • 37%: Share of consumers who have not used an installment plan in the last year who cite risk of overspending as a reason

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    Installment Plans Report

    Merchants’ Evolving Perspective on the Value of Card-Linked Pay Later Plans
    The Use of Card-Linked Installment Plans in Online and In-Store Sales
    Redefining Retail: Consumer Finance Trends Driving the Evolution of Pay Later Plans
    Divided, Not Conquered: Acquirer and Merchant Confusion Clouds Split-Payments Landscape
    Unpacking Merchant Strategies and Consumer Demand for Flexible Payment Plans
    Acquirers’ Navigation of an Uncertain Installment Plan Landscape