As an ecommerce business, one consumer demand you need to cater to is the ability of your shoppers to pay for their purchases over several installments, interest free. After all, it’s one of the top reasons people shop online.

The buy now, pay later (or BNPL) payment plan is one such option. Even though it’s been around for decades, the popularity of BNPL surged over the past couple of years as consumers pivoted to online shopping. Today, it ranks among the top online payment methods worldwide. In fact, more than half of consumers say they used the buy now, pay later service during the pandemic. 

So then, how many buy now, pay later US users are there?

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How many buy now, pay later US users are there?

According to the latest buy now, pay later statistics, the number of shoppers in the US opting for this payment method is expected to hit 79 million in 2022. This makes up 36.8% of the total number of internet users there, which means that more than one out of every three online shoppers use is a buy now, pay later user.

The number of buy now, pay later US users in 2022 marks a 56.1% annual increase. This growth may be impressive, but it’s actually a slowdown from the previous year. In 2021, the number of buy now, pay later US users soared 102.3% from 2020 to hit 50.6 million—essentially more than doubling in one year.

These buy now, pay later statistics also show that its adoption is set to continue increasing over the next few years. The number of buy now, pay later US users is forecast to climb to 88.2 million in 2023, before hitting 94.4 million in 2024. 

Experts predict that, by 2025, there will be 99.7 million online shoppers in the US choosing the buy now, pay later payment option. This is set to account for 44% of all internet users. From 2021 to 2025, the popularity of buy now, pay later among US consumers is expected to nearly double. 

Despite the continued increase, growth is forecasted to slow. From 2023 to 2025, the average annual increase in the number of buy now, pay later US users is expected to be 8.1%. Should this growth sustain, we can expect to see the number of buy now, pay later US users to exceed 100 million by 2026.

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