The Buy Now Pay Later (BNPL) market is skyrocketing, with projections indicating a surge from USD 16 billion in 2023 to an impressive USD 115 billion by 2032, representing a CAGR of 25.3%. The growth is fueled by a rise in online shopping, the demand for flexible payment solutions, and significant adoption in sectors like retail and healthcare. Strategic business developments, such as PayPal's acquisition of Paidy and Visa's expansion through acquisitions, are reshaping the market. Meanwhile, the integration of AI and machine learning for risk assessment is addressing regulatory challenges. This report delves into key statistics, use cases, recent developments, and the analysis of major players like PayPal, Affirm, Afterpay, Mastercard, Amazon, and Klarna, illustrating the dynamic nature and potential of the BNPL industry.
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