Over the past few years, buy now, pay later (BNPL) has gone from a niche payment method to one of the hottest trends in payments. According to research and interviews conducted as a part of the Global Payments 2022 Commerce and Payments Trends Report, this is the year that BNPL will become a mainstream payment method.
According to Juniper Research, BNPL payments are expected to account for nearly a quarter of all global ecommerce transactions by 2026, up from just 9% in 2021. It's a payment type that attracts all audiences, particularly Gen Z and millennials, with eMarketer forecasting that 44% of Gen Z and 37% of millennials making a BNPL payment in 2022, compared to 23% of Gen X and 9.4% of baby boomers.
Global Payments provides payment solutions, including a range of installment payment options that allow you to provide eligible customers with the option to pay for purchases over time, in smaller equal payments.
To ensure you're meeting customer payment preferences in 2022 and beyond, buy now, pay later is a growing opportunity that you should explore.
Together, HSBC and Global Payments are helping businesses innovate and grow by offering them the technologies, services and expertise they need to operate more efficiently across a variety of channels, here in Canada and in many markets around the world.