BNPL Users Want to Be Rewarded for Their Purchases


More consumers would use buy now, pay later (BNPL) for larger purchases if they could be sufficiently rewarded for doing so.

By the Numbers

The PYMNTS Intelligence report “Tracking the Digital Payments Takeover: What BNPL Needs to Win Wider Adoption” was based on a survey of over 3,100 consumers to explore their use and experiences with deferred payment plans.

Features BNPL users want to see

The results showed that consumers increasingly opt for credit card installments for larger purchases because BNPL services lack common features of credit cards, such as reward programs and higher credit limits. Additionally, consumers reported that BNPL is not as widely available in stores. The study found that 38% of consumers expressed a desire for BNPL to offer more available and higher-quality rewards.

The Data in Context

Some providers are already taking steps in this direction. In May, Sezzle introduced Payment Streaks, a feature that enables users of the company’s BNPL service to advance through loyalty tiers by consistently making on-time payments. Through the program, every on-time payment is considered a “streak.” Users advance to the next loyalty tier after reaching the necessary streak count within a rolling 90-day period.

Yet not all efforts in the space have been successful. In February, Affirm axed its rewards program.

“We’re constantly testing new features and looking for ways to improve Affirm’s products,” a company spokesperson told PYMNTS in a statement at the time. “While Affirm’s Rewards beta program will no longer be available, we are continuing to explore how we can bring a best-in-class rewards experience to our consumers.”

Plus, in January, Afterpay ended its Pulse Rewards program, which had been around since 2020, teasing the upcoming launch of a new loyalty program at some point this year without providing further details.

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