Chart showing: US Buy Now, Pay Later Market Size (2023–2027)

Buy Now, Pay Later Market Size: US Forecast

A recent study on the most popular online payment methods suggests an increasing preference for the buy now, pay later (BNPL) payment plan among consumers—especially those located in North America.

In 2022, 5% of all online purchases there were paid for using buy now, pay later services. This is expected to rise to 7% by 2026. The number of buy now, pay later users in the United States is also set to increase from 82.1 million in 2023 to 112.7 million by 2027.

What sort of impact will this have on the buy now, pay later market size? Here’s a close look at the US BNPL market size and its growth.

US BNPL market growth

According to a new report on the buy now, pay later market size, BNPL payment volumes are forecast to hit $80.8 billion in 2023. This represents a 12.3% annual increase from 2023’s $71.9 billion. This is also in line with the rising number of users of Klarna in the US, which is expected to hit 43.9 million this year.

The BNPL market growth is showing no signs of stopping. Sales volumes are projected to continue increasing over the years. In 2025, the buy now, pay later market size is expected to further expand by 20.4%, to reach a total of $97.3 billion. A further increase of 14.7% is forecast for 2026, with total sales volumes set to hit $111.6 billion, exceeding $100 billion for the first time. Industry experts predict that the US BNPL market’s growth is expected to sustain in 2027, rising by 11.9%, to $124.8 billion.

In other words, industry analysts predict that the US buy now, pay later market size will expand by double digits every year from 2023 to 2027. In this forecast period, the buy now, pay later market’s growth is set to register an average annual rate of 15.8%, marking an overall increase of 73.5%. The biggest rise is expected in 2025, while the smallest increase is set to come in 2027.

BNPL market growth: biggest driver

Even though the BNPL payment option has been around for a long time, it has exploded in recent years.

Experts attribute this to the COVID-19 pandemic, which they say triggered a shift in consumers’ shopping habits and edged them toward online shopping. Reports say this is especially so among younger shoppers who are jumping on the trend to finance high-ticket purchases.

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Buy Now Pay Later Market Size FAQ

How big is the buy now pay later market in the US?

US BNPL payment volumes are forecast to climb from $80.8 billion in 2023 to $124.8 billion in 2027. Forecasts put volumes at $97.3 billion in 2025 and $111.6 billion in 2026, so sales rise every year of the period.

How fast is the BNPL market growing?

Analysts expect the US BNPL market to grow by double digits every year from 2023 to 2027, averaging 15.8% annually. That adds up to an overall increase of 73.5%. The biggest jump is forecast for 2025 (20.4%), and the smallest for 2027 (11.9%).

When will BNPL sales pass $100 billion in the US?

US BNPL sales are forecast to reach $111.6 billion in 2026, exceeding $100 billion for the first time. Volumes are expected to hit $97.3 billion in 2025, then grow another 14.7% the following year.

How many people use buy now pay later in the US?

The number of US BNPL users is set to rise from 82.1 million in 2023 to 112.7 million by 2027. That user growth runs alongside the forecast double-digit annual increases in BNPL payment volumes.

What share of online purchases are paid for with BNPL?

In North America, 5% of online purchases were paid for with BNPL services in 2022. That share is expected to rise to 7% by 2026. Preference for the payment plan is especially strong among consumers in the region.