More and more BNPL customers are using multiple providers
Envestnet®| Yodlee® data shows that consumers are increasingly using more than one Buy Now, Pay Later (BNPL) provider with the incidence increasing from 34% in 2020 to 50% in 2023 (see Figure 1).
According to C&R Research, consumers currently have about 12 providers to choose from for BNPL services. Their recent survey shows that in the US, PayPal Credit leads the way as the most popular service among users (57%), with other services trailing behind: Afterpay (29%), Affirm (28%), Klarna (23%) and ZipPay (19%).
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About Envestnet | Yodlee Merchant, Retail, Shopper, and Spend Insights
Envestnet | Yodlee Merchant, Retail, Shopper, and Spend Insights utilize de-identified transaction data from a diverse and dynamic set of data from millions of accounts to identify patterns and context to inform spending and income trends. The trends reflect analysis and insights from the Envestnet | Yodlee data analysis team. By combining data with intelligence – connecting vast amounts of actual de-identified shopping data with state-of-the-art analytics and machine learning – Envestnet | Yodlee provides visibility into a large set of shopping daily purchase behavior including, but not limited to, transactions, customer lifetime values, and merchant/retailer shares.
To learn more about Envestnet | Yodlee Merchant and Retail Insights and get a free demo, please contact an Envestnet | Yodlee sales representative.
