Canada Buy Now Pay Later Market Overview
Base Year: 2023
Forecast Years: 2024-2032
Historical Years: 2018-2023
Market Growth Rate: 19.00% (2025-2033)
According to the latest report by IMARC Group, the buy now pay later market size in Canada is projected to exhibit a growth rate (CAGR) of 19.00% during 2024-2032.
Canada Buy Now Pay Later Industry Trends and Drivers:
The Canada BNPL (Buy Now Pay Later) industry is witnessing fast-paced growth, propelled by a plethora of factors such as customers' increasing adoption rates of flexible payment options. Digital wallets and fintech ecosystems are witnessing a rapid expansion, with more and more Canadians opting for alternatives that provide convenience and financial flexibility. BNPL services are launched in the limelight because they allow consumers to buy goods and services right away and pay at intervals. The surge in demand for digital payment solutions and the boom of e-commerce platforms further fuel BNPL demand. Large enterprises and small-to-medium enterprises alike are riding on these trends by incorporating BNPL services into their payment offerings to cater to a wide array of consumer needs.
The growth of the e-commerce sector is a major driving force behind the Canada BNPL market. The demand for very convenient and accessible payment options is enhancing. Retailers are adopting BNPL services to make the shopping experience much richer, particularly for high-ticket purchases in consumer electronics, fashion and garment, and healthcare sectors. Retailers using BNPL appeal to a larger audience and have a greater average order value as the choice to pay over time encourages consumers to spend more. The surging popularity of online shopping and the demand for payment flexibility are changing the way retail is done and pushing the BNPL market further.
Besides, the charm of BNPL service is cutting across retail into the recreational and entertainment sectors. Consumers use BNPL for anything from event tickets to travel bookings, thereby extending the market reach even further. This universal adoption into a multitude of industries means a world of opportunities for both innovative start-ups and established players of the fintech cohort to refine and set their offerings apart from the rest. The seamless payments offer the right setting in the online-plus-POS world to create a relentless vibrant world market in favor of the Canadian BNPL market expansion. With the evolution of flexible payment models, the market is expected to diversify more and thrive, positively impacting businesses and consumers alike.
Download sample copy of the Report: https://www.imarcgroup.com/canada-buy-now-pay-later-market/requestsample
Canada Buy Now Pay Later Industry Segmentation:
The report has segmented the market into the following categories:
Channel Insights:
- Online
- Point of Sale (POS)
Enterprise Size Insights:
- Large Enterprises
- Small and Medium Enterprises
End Use Insights:
- Consumer Electronics
- Fashion and Garment
- Healthcare
- Leisure and Entertainment
- Retail
- Others
Regional Insights:
- Ontario
- Quebec
- Alberta
- British Columbia
- Others
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
Canada Buy Now Pay Later Market News:
- 30 October 2023: Walmart Canada introduced an interest-free BNPL option that is powered by Klarna when shopping on Walmart.ca and through the Walmart Canada and Klarna mobile apps. The company’s focus is to help Canadians save money and live better. They are prioritizing the enhanced user experience by providing even more options to choose from.
- 26 March 2024: Sezzle, an innovative payment solution, announced that it is standing as the BNPL in Canada. Since its debut in the Canadian market four years ago, Sezzle has continued winning over both shoppers and merchants with its innovative payment solutions. The company became a standout in the Canadian app store by providing a product that is easy to use and offers payment flexibility. In addition, Sezzle’s interest-free payment option attracted consumers seeking financial flexibility.
Key highlights of the Report:
- Market Performance (2019-2024)
- Market Outlook (2025-2033)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Strategic Recommendations
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
Ask analyst for your customized sample: https://www.imarcgroup.com/request?type=report&id=24000&flag=C
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About Us:
IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
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