Buy Now Pay Later (BNPL) Stats for 2022

Consumers are increasingly turning to Buy Now Pay Later (BNPL) or POS financing to purchase items or services and spread out their payments over  time with a preset payment plan.

A recent poll found that during the COVID-19 outbreak, 60% of participants used a buy now, pay later service. 66 percent of respondents stated that they believe adopting buy now, pay later services to be “financially dangerous” at the same time. This is probably because services that let customers purchase items now and pay for them later might lead to overspending. Services that let you buy now and pay later may give the impression that an item is less expensive than it is. If shoppers indulge themselves, they could accumulate more credit than they can manage.

Important Data for BNPL

In 2022, there are expected to be 59.3 million BNPL users. The amount of BNPL customers has been sharply rising over time, driven in part by the financial difficulties associated with COVID and in part by the proliferation of BNPL businesses.

This line of credit is adaptable and simple to qualify for. For example, 45% of customers said they picked BNPL because paying with it was simpler than using a credit card, while 44% claim they did so because it offers more flexibility.

BNPL Use by Age



BNPL User Percentage












BNPL Use by Average Household Income


Average Household Income

BNPL User Percentage












People between the ages of 18 and 24 and 35 to 44 are the most likely to finance BNPLs. In general, younger age groups utilize BNPL more frequently. The income range of $50,000–74,999 is the one most probably to use BNPL. Customers in this range and those above it utilize BNP at around the same rates.

According to the most recent statistics, BNPL loan usage decreases as income and age rise. However, the trend suggests that this pattern is changing, and more and more individuals are beginning to use BNPL lending, which is hurting traditional banking products.


Top Reasons for BNPL Usage


Reasons to Use BNPL

Percentage of Users

Out of Budget Purchase


Avoiding CC Interest


Borrow Money


Avoiding to Share Personal Data


Credit Card Alternative


Reached Credit Card Limit


Can’t get CC


No Bank Account





Generally, purchasing clothing and electronics is the most frequent usage of a BNPL plan. The most frequent reason for selecting a BNPL plan is to make an expensive purchase.

Amounts People Owe to BNPL


Amount owed

User Percentage

Less than 100












More than 5000



BNPL Companies


Not just businesses and consumers benefit from BNPL loans; BNPL service providers also make significant profits. Even if the majority of the top financing platforms don’t charge consumers any additional fees, they nevertheless make money from the merchant companies that use their services to run their online storefronts. Simply defined, BNPL services are simple to use, but difficult to produce and secure. As a result, rather than developing a new system on their own, retailers employ the established and reliable financing systems of BNPL companies to increase their sales and conversion rates. Additionally, it draws a lot more customers overall.

Instead of just employing basic BNPL services, merchants and retailers are increasingly turning to the newly created and deployed BNPL white label services. Retailers can adopt BNPL services and do so under their name by using ChargeAfter’s white-label services. They get considerably better outcomes from branded BNPL solutions, which also improves the reputation and overall attractiveness of their business.


ChargeAfter’s BNPL Financing Platform


ChargeAfter’s  Waterfall financing increases the chance of approval  —  up to 85%.

As a result, merchants and financial institutions are using ChargeAfter’s BNPL white-label services to increase customer retention and maintain a competitive edge in the consumer financing sector.

Additionally, ChargeAfter is constantly improving and working to provide its merchants and banking partners with the best and most up-to-date services. According to Meidad Sharon, CEO of ChargeAfter, in an interview with Fintech Blueprints, the system is updated at least montly, and by the end of this year, they intend to increase the number of lenders to further ensure that every customer can get the financing they need.


Haughn, R. (2022, July 8). 2022 Buy now, pay later statistics. Bankrate.


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Mattress Financing Has Never Been Easier With ChargeAfter’s Buy Now Pay Later eCommerce Platform

When it comes to sleep, whether it’s resetting one’s circadian rhythms or preventing the dreaded backache, a mattress is an investment worth every penny. That said, mattresses do not come cheap and they are certainly an investment requiring planning and careful consideration. The modern shopper is capable of purchasing a mattress on the fly online through the best mattress stores, however, the funds required to do so are not always accessible and costly interest rates tend to put shoppers off from upgrading their mattress through online retailers. 

When it comes to mattress financing, ChargeAfter’s buy now pay later eCommerce platform can help consumers purchase a new mattress easier than ever before. In doing so, the platform can benefit mattress retailers tremendously in an industry that competes heavily for consumer attention in order to turn a profit and beat out the competition. Here’s how ChargeAfter’s consumer-focused financing platform supports profitable business growth by benefiting mattress shoppers:

Zero-Interest Repayment Solutions

ChargeAfter’s powerful multi-lender platform pairs customers with lenders capable of facilitating their mattress orders with zero-interest repayment plans. Part of the reason consumers are so skeptical about buying mattresses online is that the investment becomes incredibly costly when having to source financing from third-party sites or financial service providers subject to high interest rates. The lack of interest rates through the integration of ChargeAfter’s platform gives consumers an advantage on these eCommerce mattress stores and encourages greater monthly sales because of this advantage. This is a gap in the market for customer conversion promotion many mattress retailers fail to consider for their checkout integration.

Larger Orders are More Accessible

Another reason shoppers are more likely to seek mattress financing from eCommerce stores with ChargeAfter’s buy now pay later solution is that it allows them to make larger orders. Customers that shop with online stores that do not offer the seamless ChargeAfter integration are required to seek the financial assistance elsewhere. In doing so, credit checks are usually required by financial institutions or private lenders as they want to ensure that a consumer is capable of repaying the terms. With ChargeAfter, there are no credit checks that limit a consumer’s ability to purchase a mattress from your store. This means that larger orders are more accessible to every type of consumer, helping drive up your business’s average order values within a business month.

Faster Time to Purchase

Time to purchase is a key factor that influences the success or failure of an online mattress store. This is especially evident as large ticket items like mattresses require more comprehensive consumer decision-making than smaller items. Mattresses fall into the category of a considered purchase as they require a large investment. Considered purchases are much trickier areas to market and land sales as the competition is rife, the justification for a purchase needs to be strong, and there should be novel buying methods to suit the larger cost of these items. With ChargeAfter’s multi-lender integration, consumers can more easily filter through the considered purchase decision-making process and shop more confidently with online retailers. This encourages a quicker time to purchase, which in turn drives a business’s average monthly order volumes up. 

Mattresses are a costly investment, although well-worth it as consumers will likely spend most nights for the next 10 years resting their bodies in their new bed. That is why customers should not avoid paying for quality mattresses through the best online eCommerce platforms, and your site can leverage this emotional buy-in with ChargeAfter. The platform ensures that consumers are capable of buying from your mattress store easier and more quickly than ever before, turning casual browsers into paying customers.