BNPL – Emerging now, Rising Later !

BNPL is a humongous industry right now and is currently estimated to be ~$10tn with less than 2% market penetration. This emerging global trend is expected to achieve overall e-commerce spend of +10% Y/Y growth, globally through 2024.

CrispIdea anticipate the global BNPL market to reach around $1tn, growing at a CAGR of 20% over the next 10 years, as per expected TAM of over $1tn.

BNPL space is currently heated up, as every other payment company want a piece of this rapidly growing trend. PayPal’s recent acquisition of Paidy is an example of the company’s intent to expand in the BNPL space. We believe the company will be a strong contender, given its acquisitions and partnerships despite the fiery competition, especially from Block Inc.

The BNPL space is witnessing new entrants with the passing of every month. Affirm, one of the major players in the BNPL market is gaining momentum in increasing its market share by rapid customer acquisitions. Affirm improved its customer acquisition spree by forming strategic partnerships with various large names like Walmart, Amazon and others. We believe Affirm’s improved partnerships and offerings based on its innovative technology will help in improving its overall position in the market, despite rising competition.

By Shejal Ajmera

Shejal Ajmera is the Head of Research and founder of CrispIdea.

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