The Buy Now Pay Later (BNPL) market is experiencing explosive growth, projected to reach $3.98 trillion by 2030, growing at a CAGR of 45.7% from 2021. This surge is mainly fueled by the increased adoption of online payments and the expansion of e-commerce in emerging nations. Consumers are drawn to BNPL services for their convenience, security, and the financial flexibility they offer, allowing purchases without immediate payment. The market's expansion is significantly supported by technological advancements and the rising penetration of online payment methods worldwide. Key market segments include online and POS channels, with diverse applications across retail, media, healthcare, and more. The Asia-Pacific region remains a dominant player, leading in market share and growth rate. This growth trajectory is underpinned by major players like Afterpay and Perpay, who are continuously innovating to enhance user experience and accessibility.
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