Buy now, pay later (BNPL) key motivations in the U.S. 2020
Buy now, pay later (BNPL) users in the United States focused especially on financial clarity in 2020, and were said to display a sense of financial responsibility. When asked in a survey on what drove U.S. consumers in late 2020 to use a BNPL solution, budgetary considerations like clarity of fees and interest rates as well as the ability to monitor spending were considered the most. This was different from either credit cards or digital wallets, where rewards and convenience played a more important role. A different survey observed that buy now, pay later was popular among U.S. Millennials by March 2021 but was growing faster in a different U.S. age group.
