Citizens Advice press release on BNPL statistics
Statistics | 15/06/22
A press release by Citizens Advice on buy now-pay later found that:
- more than two in five BNPL customers are borrowing money to make their repayments
- the types of borrowing included overdrafts, borrowing from friends and family, loans and payday loans. The most popular was credit cards (26%)
- 51% of 18-34 year olds borrowed money to pay off BNPL debt, compared to 39% of 35-54 year olds and 24% of over-55s
- one in ten Buy Now Pay Later customers didn’t fully understand how the repayments would be set up.
Source: Citizens Advice