Deferred payments are becoming more and more popular in Poland. We are inflating the European average

The Buy Now Pay Later (BNPL) service is growing in popularity in Europe, which means deferring payments for purchases already made.

Deferred payments. Poland at the forefront

The data presented in the “European Retail Banking Radar” report by the international consulting company Kearney show that among the 13 surveyed countries, Italy and Sweden are the leaders, where two out of three consumers (67%) have already used this option. Poland is in second place. and Romania (64%).

– The popularity of the solution in Poland results, on the one hand, from the relatively high degree of widespread integration of BNPL solutions in online stores and on the largest e-commerce platforms, and therefore the ease and availability of this solution on our market. Poles are eager to use technological innovations, which is also indicated by the survey results – 22%. of surveyed Poles chose the option of deferring payments because they wanted to “try” this service (vs. 18% on average in the study). On the other hand, consumer preferences are changing – since the beginning of the year, the BNPL market has been growing, and at the same time, the level of financing purchases using non-bank loans (“payday loans”) has been decreasing. It can therefore be said that Poles are switching to this new form of financing purchases, especially those made in online channels – comments Jakub Siekierzyński, Kearney manager.

Our result is well above the European average (57%). Less than half of buyers use BNPL in countries such as: Austria, Czech Republic and Portugal.

Almost one third of all postponed payments in Poland (36%) are worth less than EUR 50. Every fifth transaction (21%) is for an amount between EUR 50 and 99, and every fourth transaction (25%) is between EUR 100 and 249.

Most often, we postpone payments for electronics

The Kearney report shows that the most popular category of BNPL purchases in Europe is personal electronics. In as many as six of the thirteen countries surveyed, more than half of consumers used this option to finalize payments for purchases, among others. phone, smartwatch or headphones. In second place are DIY tools – in eight countries the percentage of people deferring payment for this type of equipment exceeded 40%. Europeans often decide to delay payments also when making fashion purchases. BNPL is most often used to buy clothes, shoes and accessories by consumers from France (39%), Poland and Romania (37% each).