Top Buy Now Pay Later Companies in the World

Financial Services and Investment Intelligence

Top Buy Now Pay Later Companies in the World

The global buy now pay later market reached US$ 7,755.2 Million in 2023. As per the analysis by IMARC Group, the top companies in the buy now pay later industry are focusing on integrating advanced technologies, including artificial intelligence (AI) and machine learning (ML), to assess creditworthiness, automate underwriting processes, and personalize offers. These technologies also help analyze vast amounts of data like transaction history, credit scores, and behavioral patterns, to make informed lending decisions in real-time. They are also incorporating biometric technologies, such as fingerprint and facial recognition, in BNPL platforms for secure and convenient user authentication and providing an extra layer of security and eliminating the need for traditional passwords or PINs. Moreover, the advent of mobile applications to provide a seamless and user-friendly interface for consumers to browse products, select BNPL options, and manage payments is offering lucrative growth opportunities to industry investors. Besides this, key players are relying on customer relationship management (CRM) systems to manage customer interactions, analyze data, and improve customer support. Looking forward, IMARC Group expects the market value to reach US$ 51,793.6 Million by 2032, exhibiting a growth rate (CAGR) of 23.49% during 2024-2032.

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List of Top Companies Operating in the Buy Now Pay Later Industry:

The global buy now pay later market has several major players including Affirm, Inc., Afterpay Australia Pty Ltd (Block Inc.), Billie GmbH, Klarna Bank AB, LatitudePay Australia Pty Ltd, Laybuy Holdings Limited, LazyPay Private Limited (PayU), Openpay Group Ltd, (Payl8r) Social Money Limited, PayPal Holdings, Inc., Splitit Ltd., Zip Co Limited etc. More information about these companies has been provided below.

1. Affirm, Inc.

Establishment: 2012

Headquarters:

San Francisco

Website:

https://www.affirm.com/


Affirm, Inc. is a financial technology services company that provides installment loans to consumers at the point of sale. It aims to revolutionize the banking industry by making it more accountable and accessible to consumers. It has developed a user-friendly app that allows customers to shop at their favorite stores online or in-store and pay later. It has partnered with over 2,000 merchants across various industries, including home furnishings, travel, personal fitness, electronics, apparel, and beauty.

2. Afterpay Australia Pty Ltd (Block Inc.)

Establishment:

2014

Headquarters:

Sydney, Australia

Website:

https://corporate.afterpay.com/


Afterpay Australia Pty Ltd (Block Inc.) is a leading global provider of buy now, pay later (BNPL) services. It enables consumers to make purchases and pay for them in installments, without the need for traditional credit checks or interest fees. It has partnered with various retailers across different industries, which allows customers to split their payments into four equal installments, paid every two weeks. Its innovative payment solution has gained popularity among consumers, particularly millennials, which provides them with greater flexibility and control over their spending. It offers consumers the ability to make purchases and pay for them in four equal installments, without the need for traditional credit. The company has formed strategic partnerships with various retailers, both online and offline, across different industries, including fashion, beauty, electronics, home goods, and more.

3. Billie GmbH

Establishment:

2016

Headquarters:

Berlin, Germany

Website:

https://www.billie.io/


Billie GmbH is a fintech startup with the vision to empower businesses of all sizes to follow their goals and thrive. It provides easy access to short-term liquidity with its fully digital factoring services and simplifies the business purchasing experience. It aims to create equal opportunity for all businesses to buy, sell, and thrive on their own terms. Its platform allows businesses to sell their unpaid invoices and receive immediate payment, which helps to improve cash flow and support growth. It embraces a pioneering mindset, constantly innovating and pushing boundaries to create cutting-edge solutions for their customers. It focuses on creating a customer-centric experience and building strong relationships with their clients, always putting the needs of businesses first.

4. Klarna Bank AB

Establishment:

2005

Headquarters:

Stockholm, Sweden

Website:

https://www.klarna.com/


Klarna Bank AB provides digital financial services and specializes in payments for online shopping and direct payments. It offers flexible payment options, such as buy now pay later and spread payment schemes, which allow shoppers to make purchases with ease. It operates in several countries, including Austria, Belgium, Denmark, Finland, the Netherlands, Norway, Switzerland, the UK, and the US. It continuously explores and utilizes the latest technologies to improve its services and enhance the customer experience. Its dedication to innovation has positioned it as a thought leader and disruptor in the digital financial services sector.

5. LatitudePay Australia Pty Ltd

Establishment:

2015

Headquarters:

Melbourne, Victoria

Website:

https://www.latitudepay.com/


LatitudePay Australia Pty Ltd is a prominent digital payments, instalments, and lending business that operates in Australia, New Zealand, Canada, and Singapore. It helps individuals and businesses navigate their financial needs with a strong focus on providing convenient and flexible payment solutions. It is committed to acting with integrity, transparency, and ethics. It ensures compliance with regulations and maintains high standards of business conduct. The company emphasizes investing in technology to deliver efficient, reliable, and innovative payment solutions.

6. Laybuy Holdings Limited

Establishment:

2017

Headquarters:

Auckland, New Zealand

Website:

https://www.laybuy.com/


Laybuy Holdings Limited offers shoppers a convenient alternative to credit cards, which allows them to make purchases and spread the cost of repayments across 6 weeks. It aims to make shopping easy and affordable for consumers by providing interest-free installments. It encourages responsible spending and offers an app for a seamless shopping experience. The company is dedicated to providing customers with a user-friendly and affordable shopping experience.

7. LazyPay Private Limited (PayU)

Establishment:

2018

Headquarters:

Maharashtra, India

Website:

https://lazypay.in/


LazyPay Private Limited is a financial technology company that provides innovative payment solutions. It offers a hassle-free buy now pay later service, which allows customers to make purchases and pay for them in easy installments. It provides a secure and reliable payment solution, ensuring the privacy and protection of customer information. It is committed to providing excellent customer service. Its website offers a comprehensive FAQ section wherein customers can find answers to common queries about financial reports, pricing, and accessing the database of the company. It regularly adds and updates information about their company, which ensures that customers have access to the most accurate and up-to-date details.

8. Openpay Group Ltd

Establishment:

2013

Headquarters:

Melbourne, Australia

Website:

https://www.opy.com/


Openpay Group Ltd is an Australia-based fintech company that specializes in providing embedded finance payment solutions. It operates in Australia, New Zealand, and internationally and offers innovative payment platforms to both consumers and businesses. It prides itself on delivering an omnichannel financing solution that goes beyond traditional payment methods. It aims to revolutionize the way payments are made and managed by providing flexible repayment options and empowering businesses with efficient trade account management tools.

9. (Payl8r) Social Money Limited

Establishment:

2013

Headquarters:

Greater Manchester, United Kingdom

Website:

https://payl8r.com/


(Payl8r) Social Money Limited offers flexible repayment plans and online finance options, which allows customers to make purchases online and pay for them overtime. It provides a buy now, pay later service that helps customers finance their desired products. It has received funding through debt financing, and its investors include Conister Bank. The company is known for its excellent customer service and commitment to assisting customers.

10. PayPal Holdings, Inc.

Establishment:

1998

Headquarters:

California, United States

Website:

https://www.paypal.com/


PayPal Holdings, Inc. is a global technology platform and digital payments company that enables individuals and businesses to securely send and receive money online. Its mission is to democratize financial services and empower people to have greater control over their money. The company has continually innovated its offerings to create a convenient and secure ecosystem for both customers and merchants, which makes it easier to manage payments. Its platform is designed to provide simplicity, security, and flexibility, and it strives to foster financial inclusion and support individuals and businesses of all sizes, including startups and established enterprises.

11. Splitit Ltd.

Establishment:

2012

Headquarters:

New York, United States

Website:

https://www.splitit.com/


Splitit Ltd. is a global payment solutions company that aims to empower consumers for paying for their purchases on their own terms. Its mission is to enable consumers to use the credit they have earned to pay for the things they want and need. It strives to be the leading provider of card-based installment payment solutions for merchants and shoppers worldwide. It provides a white-label installment solution that allows merchants to offer their customers the option to pay for their online purchases in installments. It caters to businesses of all sizes, which provides a self-onboarding portal for smaller businesses and a dedicated sales team for larger businesses.

12. Zip Co Limited

Establishment:

2013

Headquarters:

Sydney, Australia

Website:

https://zip.co/


Zip Co Limited is a global financial technology company that offers a buy now pay later service to consumers. It operates in Australia, New Zealand, and the USA, Zip to provide flexible payment solutions and allows customers to make purchases and pay for them in installments. The company offers products such as Zip Pay, Zip Money, and Zip Business Capital, which cater to both individual consumers and small to medium-sized businesses. It has become a prominent player in the financial technology industry with a strong market presence and a focus on innovation.

Get an inside look at the global buy now pay later market with exclusive insights, including:

  • CAGR projections during the 2023-2028 forecast period
  • In-depth information on the factors that will fuel the buy now pay later market growth in the next five years
  • Precise predictions regarding upcoming trends and potential changes in consumer behavior
  • Analysis of the buy now pay later industry's expansion at the regional and global level.
  • A thorough review of the market's competitive landscape and detailed information on key players
  • Detailed explanations of the challenges that could impede the growth of the buy now pay later market.


About Author:

Shree Basu

Senior Content Writer at IMARC Services Private Limited

Shree Basu is an experienced content writer with a passion for researching about diverse markets, ranging from technology to chemistry to agriculture. She has around two years of experience in different aspects of market research and has worked with multiple startups and enterprises in the B2B, B2C, and retail industries. In her free time, Shree enjoys reading, feeding stray animals, and watching crime documentaries.

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