4 in 10 Consumers Would Not Make Purchase if BNPL Were Not Available

A recent PYMNTS Intelligence report, “Decoding BNPL Users: Necessity, Convenience and Risk Signals” examines consumer behavior and preferences regarding buy now, pay later (BNPL), which has become increasingly embedded in the financial lives of U.S. consumers. Among the report’s findings is that 43 percent of consumers would choose to not make a purchase if BNPL was not an available option.

If BNPL was not an option, 42.4 percent of consumers would opt to purchase a cheaper product or service. 35.1 percent would complete the payment without BNPL, but reported that they would delay other payments that were due, highlighting the overall influence of BNPL on financial management and spending patterns.

The study found that BNPL spans age and income demographics, with consumers ages 25 to 34 representing the most active group, as nearly a quarter of individuals in this bracket use BNPL. Alternatively, only 5 percent of consumers aged 65 and older have active BNPL accounts. 

The U.S. BNPL market is led by several key companies, with Klarna holding the largest estimated market share at 26.2 percent. This is followed by Afterpay with an estimated 21.9 percent share, and Affirm with an estimated 19.3 percent share of the market. 

The report also found that many consumers do not exclusively use one type of pay-later product, as over 80 percent of the population holds credit cards. It differentiates between “convenience” and “necessity” users by looking at their financial circumstances and usage patterns of these products. 

The prevalence of past-due payments among BNPL users fluctuated between 23.2 percent and 27.5 percent from April 2024 to January 2025, underscoring BNPL’s impact across demographics and product categories.