Research finds that BNPL adoption in the UK continues to grow

In essence, despite the absence of formal regulations, BNPL remains widely adopted. Regulatory changes were announced in October 2024 but are not expected to take effect until 2026.

In total, 42% of UK consumers, or an estimated 22.6 million people, have used BNPL at some point. Among those who have never used the service, only 14% said they would never consider doing so, suggesting potential for further growth once regulations are implemented.

Younger consumers drive BNPL usage 

BNPL services are particularly popular among younger demographics. The study found that 63% of millennials (ages 28-43) and 56% of Generation Z (ages 18-27) have used BNPL. Over the past year, 20% of millennials and 16% of Gen Z consumers used the service for the first time. 

Finder’s research highlights concern about the lack of consumer protections until regulations take effect. Officials from Finder noted that BNPL users currently do not benefit from standard credit protections, such as affordability assessments or the ability to escalate complaints to the Financial Ombudsman. Data from September 2024 indicated that average unsecured debt per UK adult, including BNPL-related debt, had increased to GBP 4,308, up from GBP 3,891 in 2022. 

Company officials also pointed out that BNPL’s accessibility and relatively low late fees may contribute to financial difficulties for some users, as the services do not impose the same accountability measures as traditional credit products. This could impact consumers' ability to obtain future credit or lead to involvement with debt collection agencies. BNPL users were advised to view the service as a tool for managing payments rather than a way to purchase items beyond their financial means.

The findings are based on a nationally representative survey commissioned by Finder and conducted by Censuswide in January 2025. The survey included 2,000 adults across Great Britain, with results weighted to reflect gender, age, and regional demographics. Population estimates were calculated using Office for National Statistics (ONS) data.