Unless you’ve been living under a rock for the past year, you know that the buy now, pay later (BNPL) market is hot right now. In fact, the BNPL industry will acquire $680 billion in global transaction volume in 2025, according to Insider Intelligence.
It’s easy to see why consumers are so excited about BNPL. Big-name players in the market are creating embedded payment experiences, making it seamless for consumers to purchase the items they want on their terms – whether it’s a pair of Gymshark leggings, a sofa or a flower arrangement. This transformation of the payment experience is great for shoppers, which means it’s also great for merchants. BNPL players are creating new acquisition models through their branded apps, offering advertising and engagement opportunities to their retail partners, and even experimenting with live shopping events, pop-ups and activations, and even augmented reality experiences.
By allowing consumers to immediately purchase goods or services and pay for them over time — often through a short series of installments with no fees or interest — BNPL players are reshaping product discovery and influencing new buying decisions. More ways to buy and in a budget-friendly, convenient way? You’ve got our attention! Consumers can use BNPL plans on almost anything these days (hello luxury handbag I’ve always dreamed of owning). Many retailers also are bringing their BNPL services into stores (how convenient!). When brands and retailers offer BNPL it can lead to big benefits, including improved customer retention and loyalty, higher basket sizes and improved overall average order value.
Although it’s easy for brands and retailers to reap the benefits of BNPL, they need to be aware of how consumers are using these services and be prepared to address potential risks. For example, BNPL facilitates one-click checkout. It’s super easy for consumers to buy whatever they want, which means some folks are clicking “buy” without understanding the repercussions. Depending on the BNPL provider, missed payments can result in late fees and even hinder your credit score (ouch). As a result, some consumers are falling into debt, which ultimately can impact the perception of brands and retailers who use these services. Now don’t get me wrong, BNPL is a very enticing option when you really want to make a purchase for something that you never thought you could afford, but retailers and brands have a unique opportunity to empower their consumers with information they need before they take advantage of BNPL.
Making Sense of the BNPL Landscape
As BNPL continues to dominate the payment experience conversation, we wanted to create a space where brands, retailers and solution providers could come together to discuss the trend, new developments and how to embrace this technology responsibly. That’s why we’re hosting an entire track dedicated to BNPL in partnership with the Canadian Lenders Association. The track will be part of IRCE at the Retail Innovation Conference & Expo.
Curious on what you can expect from the session content? New consumer trends, latest tech players, use cases, tactical best practices…we’re excited to dig into all of these topics and more! On day two, May 12, you’ll have the opportunity to hear from a combination of market leaders, payment executives and top payment platforms that are shaping this new era of customer experience. Sessions on tap include:
Inside the Expectations of Modern Shoppers: BNPL, Embedded Payment and One-Click Checkout
Warning: “heavy notetaking required”! Seriously, bring a notebook, iPad, whatever your preference is for taking notes. This session will dive deep into consumer expectations, purchasing patterns and overall, how BNPL is impacting the consumer experience. You’ll want to attend this session if you’re trying to better understand consumer preferences to fine-tune your BNPL services.
Ending Buy Now, Default Later: AI’s Role in Sustainable Profit
In the U.S., 30% of consumers who use buy now, pay later (BNPL) expect to make a late payment in the next year. That’s bad for fintech financiers, consumers, and brands – not to mention the BNPL credit revolution. This panel will explore how AI can reshape alternative financing by gauging risk and trust early in the customer journey. We can get behind that! Shout out to Kount for leading this interesting session topic!
Beyond Millennials: Using Buy Now, Pay Later's Growing Adoption to Attract New Customers
As previously mentioned above, BNPL is becoming a new customer acquisition model. During this session, led by Uplift, you’ll get the inside scoop on how flexible payment options are attracting a broad range of affluent shoppers, young and old. Be sure to mark this one on your schedule!
Next-Gen Payment: Embracing Loyalty Programs, Immersive Shopping Experiences & Tech-Driven Store Activations
Did I mention BNPL players are transforming the customer experience? They’re tapping into new features and offers for shoppers such as: coupons, cashback rewards and even exclusive product drops in 3D through a shoppable augmented reality experience! This is a can’t-miss session for sure.
Tackling Inhibitors of BNPL Growth: Industry Disruption, Regulation and Consumer Hesitancy
If you want to get up to speed on current industry regulations and market forces, you must attend this session! This session will spotlight the key issues influencing BNPL penetration, the negative narratives in the media, and what executives can do to take control of their investments through improved customer communication and other measures.
As payment experiences continue to rapidly evolve, I can only imagine what other topics will surface by the time the event kicks off in May! Check out the agenda to get in-depth information on the above session topics and register today to secure your seat. And if you’re in the BNPL space and want to get in front of some of the industry’s most forward-thinking retail and brand leaders, there are still sponsorship options available! Get in touch with our team to see how we can collaborate.