Online and in-person shoppers can use the Buy Now Pay Later (BNPL) payment option to make purchases without having to pay the entire transaction price up front. The Buy Now Pay Later Platforms Market is growing due to the following factors: digitization, higher merchant adoption, increased repeat usage among younger consumers, and the arrival of new businesses offering finance. Through BNPL services. Younger customers like using BNPL services since they may purchase expensive laptops and cellphones and pay for stationery items, among other advantages.

More people owning smartphones and Businesses are already accepting customer payments online as a result of the need for greater internet connectivity. The BNPL platform also supports the QR-code feature, which enables users to scan the code and make the appropriate payments. However, it is anticipated that the high late fees charged by BNPL service providers will restrict Buy Now Pay Later Platforms Market growth over the course of the anticipated year. Additionally, banks and credit providers that provide BNPL services charge both the business and the client.