Superapps to help drive BNPL userbase to 670 million by 2028

Superapps like WeChat and Grab are adopting and offering BNPL services to users.

Buy now pay later has logged 380 million users globally in 2024, and this userbase is expected to more than double to 670 million in 2028.

Juniper Research estimates that there will be 10 billion BNPL transactions made by 2028.

This comes as banks and superapps leverage their positions to offer BNPL, incentivizing customers to take-up the service.

China’s WeChat and Singapore’s Grab are amongst superapps offering BNPL to users, embedding the service in their platforms. 

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“In future, the market will see not only more superapps offering BNPL, but consolidated retail experiences tailored to consumer demand; altering market shares significantly,” Juniper Research noted in its report.

The rise of superapps adopting their own fintech services will spur increased competition.

“As the BNPL landscape becomes increasingly competitive, vendors must not only stand out, but incentivise repeated use through reward points or increasing loan limits for consistently punctual repayments,” noted Matt Purnell, research author of “Global Buy Now, Pay Later Market 2024-2028” by Junper Research.