Buy now, pay later (BNPL) is a form of short-term financing, which allows customers to spread the cost of a purchase over a set period with interest-free instalments. The period typically includes three to four payments, although operators have branched out to more regular 12 and 24 month options for certain purchases.
Unlike credit cards, BNPL have fixed repayment schedules and are interest-free, unless the customer fails to pay at the allotted time. Systems like this have been available for decades, but were popularized for mobile and web purchases by Swedish operator Klarna in the mid-2010s.
As BNPL became more mainstream, Klarna, Affirm and other providers were integrated into the checkout of some of the main ecommerce platforms. Compared to a normal loan, BNPL requires a lot less authentication, although governments across the world have implemented more requirements to ensure people aren’t strapped with more debt than they can handle.
By the pandemic, BNPL providers were already drawing in a lot of users, especially in the United States. PayPal launched its own “pay in four” system, while Block Inc, the operator of Cash App, acquired Australian BNPL provider Afterpay for $29 billion.
Affirm went public at the height of BNPL buzz in 2021, but the next few years were tough for it and the wider BNPL ecosystem. Klarna, which had been toying with an IPO since 2022, only went public in 2025 due to the low valuations for many fintech firms in 2022 and 2023.
We have collected data and statistics on the buy now, pay later sector. Read on below to find out more.
Buy Now, Pay Later Key Statistics
- Buy now, pay later apps made $12.5 billion revenue in 2024, a 10.6% increase on the previous year
- Klarna made $2.8 billion in 2024, the most of any BNPL app
- Klarna has about 35% global market share in the BNPL market
- BNPL apps had 365 million users in 2024, a 9.2% increase on 2023
- There were 156 million BNPL app downloads in 2024, an improvement of 20 million
Want to learn more about the finance app industry? Our Fintech App report covers financials, usage, installs, demographics and benchmarking data.
Fintech App Report 2025
Buy Now, Pay Later Top Apps
| Title | Description | |
|---|---|---|
| https://www.businessofapps.com/data/klarna-statistics/ | Klarna | The global leader of the buy now, pay later market, with the most users and transaction volume |
| https://apps.apple.com/us/app/affirm-buy-now-pay-over-time/id967040652 | Affirm | Popular rival of Klarna in the US, with more use for larger purchases spread out over longer periods |
| https://apps.apple.com/us/app/afterpay-pay-over-time/id1401019110 | Afterpay | Cash App's buy now, pay later service, known as Clearpay in the UK |
| https://www.paypal.com/us/digital-wallet/ways-to-pay/buy-now-pay-later | PayPal | PayPal launched its own buy now, pay later service a few years ago, allowing users to pay in four |
| https://apps.apple.com/us/app/sezzle-buy-now-pay-later/id1434922495 | Sezzle | Another buy now, pay later service that offers four payments over six weeks on a range of items |
| https://apps.apple.com/us/app/zip-buy-now-pay-later/id1425045070 | Zip | A buy now, pay later provider that offers a card to pay for things in four payments offline |
| https://apps.apple.com/us/app/four-buy-now-pay-later/id1527063669 | Four | A competitor growing in popularity in the US, including a pro service with access to premium retailers and a rewards program |
Finance App Market Landscape
The finance app market can be classified into several distinct subcategories, all of which contribute hundreds of billions of dollars in transaction volume every year. Buy now, pay later is one of the newest sectors on this map, an alternative form of credit. You can download the map as a PDF, which includes a landscape version for slides and presentations.
Buy Now, Pay Later App Revenue
The BNPL market generated $12.5 billion revenue in 2024, primarily through processing and commission fees.
Buy now, pay later app revenue 2018 to 2024 ($bn)
Buy Now, Pay Later Revenue by App
Klarna generated the most revenue of all the BNPL apps, at $2.8 billion, with Affirm in second with $2.3 billion.
Buy now, pay later revenue by app 2024 ($mm)
Buy Now, Pay Later App Market Share
Klarna is far ahead of other competitors in the global market. In the US, Affirm and Afterpay have higher percentage market share.
Buy now, pay later app market share 2024 (%)
Buy Now, Pay Later App Users
BNPL apps had 365 million users in 2024, an improvement of 31 million on the previous year.
Buy now, pay later app users 2018 to 2024 (mm)
Buy Now, Pay Later App Downloads
BNPL apps were downloaded over 150 million times in 2024. Klarna was responsible for 20 million of those downloads.
