The Worldpay from FIS 2020 Global Payments Report shows BNPL schemes, which allow users to spread out repayments over regular (often fortnightly) installments, are the hot spending ticket for 2020 - and beyond. Raw data from the report reveals the market share of this payment method has increased from 3% of all
The report data shows a forecasted downturn from a combined 2019 credit and debit card ecommerce market share of 46% to just 28% in 2023. Mozo’s 2019 report also recorded almost half of respondents giving their credit cards the flick in favour of BNPL services. Cash and cards still rule in-store though, dominating point-of-sale purchases at 87% in 2019 with a less dramatic forecasted dip to 79% in 2023.
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