US BNPL consumer debt set to hit $15 bln by 2025 – study

US buy-now-pay-later (BNPL) customers’ outstanding debt is estimated to hit $15 billion by 2025, a report by management consultancy firm cg42 said on Thursday.

The industry saw a huge boost during the COVID-19 pandemic as homebound consumers opted for online shopping, a trend that urged digital payments giants such as Block Inc and PayPal Holdings Inc to expand further in the sector.