39% of Millennials say they’ve used BNPL as a payment option in the last year

Buy now, pay later (BNPL) has emerged as a compelling payment option, particularly among millennials. This shift presents an opportunity for subscription merchants to enhance their offerings, potentially increasing revenue and creating long-term customer loyalty.

A PYMNTS Intelligence report, “‘Adjustable’ Is the New ‘Agreeable’: BNPL Flexibility for Subscription Success,” a collaboration with Sezzle, examines how this trend can enhance revenue growth and help build a more sustainable subscriber base.

A New Payment Paradigm

BNPL is gaining traction as a preferred payment method, with 16% of U.S. consumers abandoning traditional payment methods in favor of BNPL solutions. This trend is particularly pronounced among millennials, with 39% reporting they used BNPL in the past year. The surge in popularity is underscored by a 28% year-over-year increase in gross merchandise volume for BNPL purchases through a single service, indicating its effectiveness in driving sales. Subscription merchants that adopt BNPL can leverage this to capture a larger market share, transforming casual buyers into loyal subscribers.

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