Who's winning the BNPL race in Europe & the US?
The Swedish fintech recorded 8m mobile downloads in Europe alone last year, while its closest rival Clearpay got just shy of 1m, according to data from Apptopia. Mobile app downloads* offer a good proxy for customer adoption in the buy now pay later (BNPL) space, which allows shoppers to defer payments on goods at no cost. Mobile downloads aside, last year saw Klarna attract a $31bn valuation, while US provider Affirm listed publicly. The BNPL long gameDespite Klarnaâ€™s lead, it will need to stay abreast of key developments in the BNPL space. Data from research specialists Kaleido Intelligence suggest that $258bn will be processed using online BNPL channels by 2025 worldwide.