The best-known BNPL brands have been on the market for around five to seven years, refining their offerings and expanding their reach. Over the upcoming months we could see more new entrants into the market as companies target different geographical areas and established lenders launch BNPL solutions to defend their positions.
We can already see examples of such strategies, with Chase, Marcus by Goldman Sachs, Citi, and The Commonwealth Bank of Australia building BNPL offerings based on credit cards.
In 2021, we’ve seen the BNPL landscape continue to change rapidly, particularly during the second half of the year. We discuss the current changes in the BNPL landscape in our report.