Pure play BNPL providers VirtusPay and Addi in Brazil did not attract as many downloads in 2023 as PayPal. This is according to research into approximately 150 different apps that either offer buy now, pay later directly, or are closely affiliated with it. Brazil is a case in point, as many predict the success of BNPL relies on a potential integration of the new payment method within Brazil's popular instant payment (IP) ecosystem. Fintech RecargaPay offers Pix payment options alongside small loans. Addi is a notable BNPL start-up within the country. The Bogota-based company raised 140 million U.S. dollars worth of venture capital and was planning to expand to Mexico in 2022. Consumers can use the app to split purchases across three months, although it does allow extending this to up to 24 months.
Biggest buy now, pay later (BNPL) apps in Brazil from 1st quarter of 2015 to 4th quarter of 2023, by number of downloads
This statistic is the result of research into roughly 150 different apps used for BNPL across the world. For more information, see the "Details" tab; The apps on display here made up 99.9 percent of all downloads in Q4 2023
Supplementary notes
Some of the apps under review are not necessarily a "pure" BNPL player: The PayPal app, for example, has a BNPL option built inside of it - called "Pay in 4" - whereas Klarna is devoted solely to BNPL. It is therefore unclear whether these figures are fully comparable.
The names provided are based off multiple publications covering BNPL brands, and focus on BNPL providers with an app. If an app does not feature in the statistic, it is because download figures were too small. Note, however, that the selection of players is not exhaustive and does not include, for example, white labels as these do not have their own app- such as Divido, PayU, and Swap. The apps researched include:
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Statista, & AppMagic. (March 7, 2024). Biggest buy now, pay later (BNPL) apps in Brazil from 1st quarter of 2015 to 4th quarter of 2023, by number of downloads [Graph]. In Statista. Retrieved October 03, 2024, from https://www.statista.com/statistics/1366784/bnpl-most-popular-apps-in-brazil/
Statista, und AppMagic. "Biggest buy now, pay later (BNPL) apps in Brazil from 1st quarter of 2015 to 4th quarter of 2023, by number of downloads." Chart. March 7, 2024. Statista. Accessed October 03, 2024. https://www.statista.com/statistics/1366784/bnpl-most-popular-apps-in-brazil/
Statista, AppMagic. (2024). Biggest buy now, pay later (BNPL) apps in Brazil from 1st quarter of 2015 to 4th quarter of 2023, by number of downloads. Statista. Statista Inc.. Accessed: October 03, 2024. https://www.statista.com/statistics/1366784/bnpl-most-popular-apps-in-brazil/
Statista, and AppMagic. "Biggest Buy Now, Pay Later (Bnpl) Apps in Brazil from 1st Quarter of 2015 to 4th Quarter of 2023, by Number of Downloads." Statista, Statista Inc., 7 Mar 2024, https://www.statista.com/statistics/1366784/bnpl-most-popular-apps-in-brazil/
Statista & AppMagic, Biggest buy now, pay later (BNPL) apps in Brazil from 1st quarter of 2015 to 4th quarter of 2023, by number of downloads Statista, https://www.statista.com/statistics/1366784/bnpl-most-popular-apps-in-brazil/ (last visited October 03, 2024)
Biggest buy now, pay later (BNPL) apps in Brazil from 1st quarter of 2015 to 4th quarter of 2023, by number of downloads [Graph], Statista, & AppMagic, March 7, 2024. [Online]. Available: https://www.statista.com/statistics/1366784/bnpl-most-popular-apps-in-brazil/
