Blockchain Press Releases
E-commerce Buy now Pay Later Market to Reach $57.8 Billion, Globally, by 2032 at 30.4% CAGR: Allied Market Research
The global e-commerce buy now pay later market is experiencing growth due to several factors, such as low cost and practical payment options, growth in the number of e-commerce websites, and an increase in the number of smartphone users.
PORTLAND, Ore., July 6, 2023 /PRNewswire/ — Allied Market Research published a report titled, “E-Commerce Buy Now Pay Later Market by Product Type (Fashion Accessories, Mobiles and Laptops, Electronics Appliances, Others), by Repayment Model (Manual Repayment Schedules, Automatic Repayment), by End User (Gen Z (21–25), Millennials (26–40), Gen X (41–55), Baby Boomers (56-75)): Global Opportunity Analysis and Industry Forecast, 2023–2032.” According to the report, the global e-commerce buy now pay later industry generated $4.2 billion in 2022 and is anticipated to generate $57.8 billion by 2032, witnessing a CAGR of 30.4% from 2023 to 2032.
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Prime Determinants of Growth-
The global e-commerce buy now pay later market is experiencing growth due to several factors, such as low costs and practical payment options, growth in the number of e-commerce websites, and an increase in the number of smartphone users. However, the e-commerce buy now and pay later services are not available on all the products, services, and websites, which limits the growth of the market to some extent. In addition, an increase in bad debts is one of the most significant obstacles limiting the expansion of the e-commerce buy now pay later business. On the contrary, as consumers increasingly turn to online shopping amid lockdowns and social distancing measures, the demand for flexible payment options has increased, which has provided opportunity for the growth of the e-commerce buy now pay later market.
Report Coverage & Details:
|
Report Coverage |
Details |
|
Forecast Period |
2023–2032 |
|
Base Year |
2022 |
|
Market Size in 2022 |
$4.2 Billion |
|
Market Size in 2032 |
$57.8 Billion |
|
CAGR |
30.4 % |
|
No. of Pages in Report |
435 |
|
Segments Covered |
Product Type, Repayment Model, End User, and Region |
|
Drivers |
Low-cost and practical payment options |
|
The growing number of E-commerce websites |
|
|
An increasing number of smartphone users |
|
|
Opportunities |
The growing consumer demand for flexible payment options |
|
Restraints |
Increase in bad debts |
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Buy Now Pay later options not available for several goods on e-commerce websites |
COVID-19 Scenario:
- The outbreak of the COVID-19 pandemic had a positive impact on the e-commerce buy now pay later market. Due to the growth in penetration of buy now pay later platforms among consumers for purchasing expensive household items and other items for general use.
- Furthermore, the pandemic has driven new norms in online shopping, where consumers are confident in purchasing products with various online payment gateways. Moreover, banks are often deterred from providing credit facilities that allow customers to pay their bills in installments.
- Hence, the market has significantly increased post-pandemic.
Procure Complete Report (435 Pages PDF with Insights, Charts, Tables, and Figures) @ https://bit.ly/3O3ipLq
The mobiles and laptops segment to maintain its leadership status throughout the forecast period-
Based on product type, the mobiles and laptops segment held the highest market share in 2022, accounting for more than two-fifths of the global e-commerce buy now pay later market revenue, and is estimated to maintain its leadership status throughout the forecast period. This is because the increasing use of mobile devices for online shopping has led to the emergence of mobile wallet solutions that offer BNPL options. These solutions enable consumers to pay for their purchases in installments directly from their mobile devices. However, the fashion accessories segment is projected to manifest the highest CAGR of 33.7% from 2023 to 2032. This is due to the fact that consumers are increasingly turning to online shopping and looking for flexible payment options that suit their budget and lifestyle. As a result, retailers are expanding their buy now pay later offerings to include a wider range of products, including fashion accessories like handbags, jewelry, and sunglasses.
The automatic repayment segment to maintain its lead position throughout the forecast period-
Based on repayment model, the automatic repayment segment held the highest market share in 2022, accounting for more than two-thirds of the global e-commerce buy now pay later market revenue, and is expected to maintain its lead position throughout the forecast period. The same segment would also showcase the fastest CAGR of 31.2% from 2022 to 2032. The growth is attributed to the automatic repayment features, which reduce the risk of default, which can be a major concern for merchants offering buy now pay later services. This helps customers stay on top of their payments and avoid late fees or penalties.
The millennials (26-40) segment to rule the roost by 2032-
Based on end user, the millennials (26–40) segment held the highest market share in 2022, accounting for nearly half of the global e-commerce buy now pay later market revenue, and is projected to rule the roost by 2032. Use them more frequently, leading to further growth in the BNPL market. However, the Gen Z (21-25) segment is projected to manifest the highest CAGR of 33.3% from 2022 to 2032. This is because Gen Z is a generation that has grown up with technology and is comfortable making purchases online. This is also a generation that is highly conscious of their finances, and they often seek out cost-effective solutions when shopping online.
Asia-Pacific to maintain its dominance by 2032-
Based on region, North America held the highest market share in 2022, accounting for nearly two-fifths of the global e-commerce buy now pay later market revenue. Due to the rise of millennials and Gen Z shoppers, who are looking for flexible payment options and are more inclined to make purchases online. In addition, as online shopping continues to grow in popularity, consumers are looking for flexible payment options that fit their budget and lifestyle. On the other hand, the Asia-Pacific to maintain its dominance throughout the forecast period. However, the same region is expected to witness the fastest CAGR of 33.4% from 2023 to 2032. This is because many retailers in Asia-Pacific are offering buy now pay later services to attract customers and increase sales. Furthermore, another trend is the expansion of buy now pay later services into physical retail stores, allowing customers to use the service in-store as well as online.
Leading Market Players: –
- Affirm Holdings Inc.
- Klarna Bank
- Paypal
- Sezzle Inc.
- Zip Co Limited
- Splitit Payments Ltd
- Laybuy Holdings Limited.
- Payright Limited.
- QuickFee Group LLC.
- Bread Financial Walmart Inc.
The report provides a detailed analysis of these key players in the global e-commerce buy now pay later market. These players have adopted different strategies, such as partnerships, product launches, and expansion, to increase their market share and maintain dominant positions in different regions. The report is valuable in highlighting business performance, operating segments, product portfolios, and strategic moves of market players to showcase the competitive scenario.
Key Benefits for Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the e-commerce buy now pay later market forecast from 2023 to 2032 to identify the prevailing e-commerce buy now pay later market opportunity.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the e-commerce buy now pay later market outlook assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global e-commerce buy now pay later market trends, key players, market segments, application areas, and market growth strategies.
Want to Access the Statistical Data and Graphs, Key Players’ Strategies: https://www.alliedmarketresearch.com/e-commerce-buy-now-pay-later-market/purchase-options
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About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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Avoids punitive slashing and token lockups, maintains web3’s lowest costs for node runners with real-time reward payments
SINGAPORE, Jan. 23, 2025 /PRNewswire/ — Staking rewards have arrived on the Algorand blockchain. The Algorand Foundation announced today that, after this week’s consensus mechanism upgrade, ‘block rewards’ are now being paid, in real-time, to validators successfully proposing blocks to the Layer-1 blockchain. The rewards begin at 10 ALGO per block and will decay by 1% every millionth block. Validators also receive 50% of the transaction fees of the blocks they successfully propose. More information about this upgrade and “Algorand 4.0” can be found here.
Algorand’s staking program is unique in the industry. Rewards are paid out in real-time and, unlike the staking setups on Solana, Ethereum, and other chains, participants are not threatened by slashing nor subject to restrictive token lockups. Node runners continue to have full access to their funds at all times. Also, compared to other popular currencies like ETH and SOL, Algorand’s staking rewards are not inflationary and don’t impact the total supply of ALGO.
“While staking on Algorand is highly inclusive, it’s highly secure as well,” said John Woods, CTO of the Algorand Foundation. “Algorand uses advanced cryptography that makes it unnecessary to put user funds at risk of penalty or loss – their ALGO does not need to be delegated to other parties or locked up to be used to secure the network.”
“Any time we interact with a blockchain – whether through a dApp or an enterprise platform – that action is made possible because of the network running it,” said Staci Warden, CEO of the Algorand Foundation. “The nodes on the Algorand blockchain secure corporate supply chains, online credentials, and digital identities. They make it possible to send aid payments around the world, and to tokenize and exchange real-world assets, all in a decentralized system. The Algorand blockchain does not fail. The Algorand blockchain will never fork. And, now, Algorand will also offer inclusive, robust, and future-proofed staking.”
There are multiple ways people can participate in securing the network and earn staking rewards. For DeFi users, liquid staking is available from Folks Finance, Tinyman, Messina, and CompX; there is a consensus staking pool on Pact, with other staking pools available on Réti; and delegated staking is available from Valar. ALGO staking will be available on other centralized exchanges later this year. Users can also run their own Algorand node.
The rollout of staking rewards marks the end of a banner year for the sustainable Algorand blockchain, including:
- Hitting its 2 billion transaction mark in July, driven in large part by the growing transactions of major projects and partners including World Chess, as well as increasing DeFi and TradFi activity.
- A significant increase in the number of developers, according to Electric Capital.
- The migration of several startups and companies to Algorand from chains like Ethereum, such as Finboot and ZTLment, citing that developing blockchain products is 600% faster on Algorand than with Ethereum/EVM chains.
About Algorand Foundation
Algorand’s mission is to power a world where information has integrity and innovative ideas can scale. The Algorand Foundation supports Algorand’s rapidly growing ecosystem by providing a best-in-class developer environment, supporting key infrastructure and setting technical standards, offering comprehensive support to builders and entrepreneurs, and providing the framework for decentralized governance.
Launched in 2019, the Algorand (ALGO) blockchain has grown into a vibrant ecosystem of developers, entrepreneurs, and enterprise partners that benefit from institutional-grade certainty and resilience. Its low fees, instant finality, and minimal carbon footprint appeal to the protocol’s millions of retail users, and developers of all kinds appreciate the ability to use common programming languages like Python. Builders on Algorand are creating protocols and companies that solve important problems at a global scale: instant payments in war and disaster zones, self-sovereign identity for the disenfranchised, supply-chain traceability for global commerce, permissionless protocols addressing financial inclusion, and the creation of entirely new markets through tokenization, to name a few. To learn more and start your journey on Algorand, visit algorand.co
About Algorand (ALGO)
Algorand (ALGO, ALGO-USD) is a cryptocurrency launched in 2019 as part of the Algorand blockchain. The Algorand blockchain is an energy-efficient, quantum-secure, single-layer blockchain with instant finality, consistently high throughput, and low fees. Algorand (ALGO) is currently trading on more than 400 active markets under the tickers ALGO, ALGO-USD, ALGO/USD, ALGO-EUR, and ALGO/EUR, among other currency pairs. It has a limited, deflationary supply of 10,000,000,000 ALGO which will be in full circulation by 2030. More information can be found at algorand.co.
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DUBAI, UAE, Jan. 23, 2025 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, is excited to share a new milestone in user adoption of the crypto-friendly Bybit Card, now serving over 1 million card holders worldwide. Announcing over 100,000 USDT in rewards through a variety of fun challenges, the Bybit Card has officially kicked off the celebration to welcome new users and thank existing customers.
In less than a year, the Bybit Card has gone from zero to over a million global users, winning hearts and swipes with its seamless integration into the global Mastercard network, user-friendliness, and commitment to making crypto an everyday choice. As crypto adoption continues to rise, more and more users are seeking ways to spend their crypto, and the Bybit Card offers an intuitive solution with simple off-ramp features, attractive perks and cashbacks, and competitive APRs on eligible crypto balances.
To show appreciation for its growing global community, Bybit is offering exciting giveaways in an inclusive celebration from Jan. 23 to Feb 23, 2025. Here’s what’s up for grabs for applicants and users who register for the event:
- Welcome Perk: Successful applicants will receive a virtual gift box along with the virtual card, each containing a small token of thanks in USDT, DOGE, SOL, and other sought-after tokens. Gifts are distributed on a first-come, first serve basis.
- More Sharing, More Winning: Bybit’s regular referral program offers 20 USDT for every successful referral, and new users receive 10 USDT. During this special event, the top referrer will take home a grand prize of 15,000 USDT from the 100,000 USDT prize pool.
- Up to 5% Cashback: Users will get to select one cashback category of their choice and enjoy up to 50 USDT or 5% cashback throughout the event, with VIP users given two categories to diversify their rewards.
“This milestone reflects the growing adoption of crypto payment solutions and our users’ trust in Bybit’s services. We are proud of this incredible achievement thanks to the amazing global crypto community.” said Joan Han, Sales and Marketing Director at Bybit. “We will continue on our mission to spread the love for crypto and support our users as they make memories with the Bybit Card.”
Starting the new year a million strong, the Bybit Card is dedicated to refining crypto-friendly payment solutions for everyday use, enriching the traditional payment system by weaving in crypto options, one transaction at a time.
Registration is required for the event. Terms and conditions apply: Bybit Card – One-Million Celebration
#Bybit / #TheCryptoArk / #TheBybitCard
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.
For more details about Bybit, please visit Bybit Press
For media inquiries, please contact: [email protected]
For updates, please follow: Bybit’s Communities and Social Media
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Blockchain Press Releases
JuCoin COO Nicolas Speaks on Why $JU is the Most Promising Ecosystem Token in Crypto
SINGAPORE, Jan. 23, 2025 /PRNewswire/ — What makes $JU stand out in the competitive world of crypto tokens? In an exclusive interview with Nicolas, the COO of JuCoin, we uncover the strategic vision driving this game-changing token. As the cornerstone of JuCoin’s ecosystem, $JU is poised to transform user experiences and solidify its place as the most promising ecosystem token in the crypto space today.
Interviewer: Nicolas, thank you for joining us today. JuCoin has been making waves in the blockchain space, and $JU is already generating significant buzz ahead of its launch. With so much anticipation, what sets $JU apart and positions it as the most promising ecosystem token in the market right now?
Nicolas: Absolutely, and thank you for having me. We’ve always envisioned $JU as more than just another platform token—it’s the core of JuCoin’s entire ecosystem. What sets $JU apart is its deep integration across all facets of JuCoin’s ecosystem.
First, $JU offers unparalleled versatility. It powers token launches, provides transaction fee discounts, facilitates governance, enables staking, and rewards active participants. Additionally, $JU is a gateway to accessing JuCoin’s high-quality ecosystem projects.
Unlike many tokens that serve a single purpose, $JU seamlessly bridges the gap between being a utility token for users and a valuable asset for ecosystem projects. This multifaceted role ensures that $JU isn’t just a token—it’s the lifeblood of JuCoin’s innovation. We’re confident this level of integration and utility will set $JU apart in the competitive crypto space.
Interviewer: With so many platform tokens in the market, what makes $JU stand out, and why do you think it will succeed in the long run?
Nicolas: What truly makes $JU stand out is its unique position within JuCoin’s ecosystem. Unlike many purely transactional tokens, $JU is designed to be a central utility token that fosters long-term value creation. It’s not just about holding a token—it’s about actively participating in the entire JuCoin ecosystem and unlocking exclusive benefits.
In addition, $JU serves as the native token of JuChain, the blockchain infrastructure we are building to empower the decentralized ecosystem of the JuChain network. This means $JU will have a dual role: fueling the innovation within JuChain’s decentralized framework while continuing to serve as the core asset in the JuCoin exchange. Here, it gives users privileges like transaction fee discounts, governance rights, staking opportunities, and access to high-quality projects.
Over time, this multi-functional design positions $JU as a true ecosystem token — one that bridges transactional utility, long-term rewards, and governance, ensuring its relevance and success for years to come.
Interviewer: Looking ahead, how does JuCoin envision $JU in the context of its 2025 strategy? What role do you see it playing as the platform grows?
Nicolas: By 2025, JuCoin aims to become a global leader in both crypto trading and blockchain development, with $JU positioned at the heart of this transformation. A major part of our strategy is the development of JuChain, an integrated blockchain infrastructure that will support the next generation of decentralized applications, tool innovation, and infrastructure development. As the gas token of this ecosystem, $JU will fuel its growth.
Additionally, our launchpad will play a critical role in onboarding high-potential projects, and $JU will be the key to gaining early access to these token launches. Beyond that, $JU will integrate deeply into our governance structure, enabling holders to vote on important decisions and directly influence the direction of the ecosystem.
In essence, $JU is designed to power the entire JuCoin ecosystem—from blockchain infrastructure to decentralized applications and token launches. It serves as the unifying medium, aligning all stakeholders and creating new opportunities for everyone involved. We firmly believe it will be the cornerstone of our success and innovation moving forward.
Interviewer: Finally, for those who are looking to get involved in $JU and JuCoin, what message do you have for them?
Nicolas: $JU is an opportunity to actively shape the future of the crypto ecosystem. Whether you’re a trader or a project developer, $JU offers a unique chance to participate in something much larger than just a token—it’s about becoming part of an innovative, growing platform.
As JuCoin continues to expand and build its ecosystem, $JU holders will be positioned to benefit from everything the platform has to offer. If you believe in the future of blockchain and want to be part of a dynamic ecosystem, $JU is the token to watch.
For crypto enthusiasts, we encourage you to follow us on our social media channels as we prepare to launch $JU and the JuCoin launchpad in the near future. Stay tuned—it’s just the beginning of an exciting journey.
Follow Twitter: https://x.com/JuCoinex
Join Telegram: https://t.me/jucoinex
Visit the website: www.jucoin.com
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