Buy Now, Pay Later (BNPL) Statistics and Trends (2026)
It depends on how you measure it. The Federal Reserve finds about 15% of U.S. adults — roughly 40 million people — used Buy Now, Pay Later in the past year, up from 14% in 2023. Broader industry estimates that count anyone who has used it put the total closer to 90 million. BNPL is young-skewing and growing fast, but late payments are rising too.
Key takeaways
- → The Federal Reserve finds ~15% of U.S. adults (~40 million) used BNPL in the past year, up from 14% in 2023 and 12% in 2022.
- → Broader industry estimates that count all users put the figure closer to 90 million.
- → BNPL providers originated close to $160 billion in 2025, with "pay in 4" about half of it (CFPB).
- → More than half of BNPL users are 35 or younger (CFPB); use drops sharply with age.
- → The average BNPL loan is about $135, typically repaid over ~6 weeks (CFPB).
- → About 24% of BNPL users have made a late payment, up from 18% (Federal Reserve).
- → FICO is starting to factor BNPL into credit scores; reported default rates stay low.
How many Americans use Buy Now, Pay Later depends entirely on how you ask. The Federal Reserve finds about 15% of U.S. adults — roughly 40 million people — used BNPL in the past year, up from 14% in 2023 and 12% in 2022. Broader industry estimates that count anyone who has ever used it run much higher, closer to 90 million. Both can be true; they just measure different things.
What stands out is the trend underneath the growth. BNPL is young-skewing and moving from electronics and fashion into everyday essentials — and the share of users who fall behind on a payment is climbing. It’s the “phantom debt” regulators are racing to measure.
How many Americans use BNPL?
BNPL figures vary more than almost any payment statistic, because “use BNPL” is measured several ways:
| Measure | Figure | Source |
|---|---|---|
| Used in the past year | ~15% of adults (~40M) | Federal Reserve |
| Total users (broad estimates) | ~90 million | Industry estimates |
| Used at least once, ever | up to ~half of adults | Survey estimates |
This page leads with the Federal Reserve’s past-year figure, since it comes from a large, consistent government survey, and notes the broader estimates where they matter.
Who uses Buy Now, Pay Later?
BNPL skews young. According to the CFPB, more than half of BNPL users are 35 or younger, and adoption drops sharply among older generations. Users also skew toward lower-income shoppers, though higher earners are increasingly adopting it too.
How big is the BNPL market?
BNPL providers originated close to $160 billion in consumer credit in 2025, with “pay in 4” plans representing about half of the total and other short- and longer-term installment loans making up the rest, according to the CFPB. The average BNPL loan is about $135, typically repaid over roughly six weeks, and most plans are interest-free when paid on time. Global market estimates run considerably higher.
What are the BNPL trends to watch?
- Late payments are rising: about 24% of BNPL users have made a late payment, up from 18% (Federal Reserve).
- Loan stacking: many users hold multiple BNPL loans at once, sometimes from more than one lender — the “phantom debt” that is hard to track (CFPB).
- Everyday essentials: BNPL use for groceries and food delivery is climbing, a sign some users are stretching cash flow rather than financing splurges.
- Credit reporting is coming: FICO is starting to factor BNPL loans into credit scores, and some providers now report to the bureaus.
- Regulation is tightening: the CFPB has studied pay-in-four products and pushed for clearer disclosures.
BNPL at a glance
| Measure | Figure | As of |
|---|---|---|
| U.S. adults who used BNPL (past year) | ~15% (~40M) | 2024 |
| BNPL originated (all products) | ~$160 billion | 2025 |
| ”Pay in 4” share of originations | about half | 2025 |
| Average BNPL loan | ~$135 | recent |
| Users age 35 or under | more than half | recent |
| Users who made a late payment | ~24% | recent |
Key facts
- BNPL emerged as a mainstream U.S. payment method around 2019 and has grown quickly since.
- The market is led by PayPal, Klarna, Affirm, and Afterpay.
- Most BNPL plans are interest-free when paid on time — typically four payments over about six weeks.
- BNPL users skew younger and lower-income, though higher earners are adopting it too.
- Regulators, led by the CFPB, are working to bring BNPL under clearer disclosure rules.
Frequently asked questions
How many Americans use Buy Now, Pay Later?+
How big is the BNPL market?+
Who uses BNPL the most?+
Is BNPL risky?+
Does BNPL affect your credit score?+
Sources
- Consumer Financial Protection Bureau — The Buy Now, Pay Later Market (research reports). consumerfinance.gov
- Consumer Financial Protection Bureau — BNPL Market Report, December 2025 (PDF). files.consumerfinance.gov
- Federal Reserve — "Buy Now, Pay Later Beyond Pay in 4" (FEDS Note, 2026). federalreserve.gov
- Federal Reserve — Report on the Economic Well-Being of U.S. Households (SHED), BNPL usage. federalreserve.gov
Figures reflect the most recent public data available as of the update date above. Sources occasionally differ by a few points depending on survey and year.