• 3 in 10 Brits (31%) used BNPL services last year, despite a lack of regulations, with 1 in 8 (13%) doing so for the first time
• BNPL is particularly popular with younger people – 1 in 5 millennials (20%) and 1 in 6 members of generation Z (16%) used it for the first time last year
• New rules won’t be introduced until 2026, meaning millions continue to use an unregulated service in the meantime

04, February, 2025, LONDON –

The popularity of buy now, pay later (BNPL) in the UK shows no signs of slowing down and it continues to attract new users, as 1 in 8 Brits (13%) used BNPL services for the first time in 2024 – an estimated 6.8 million people – according to new research from personal finance site Finder.

This is despite the continuing lack of regulations in the sector during this period, with proposed regulatory changes finally announced in October 2024, but only set to come into force in 2026.

Overall, 2 in 5 Brits (42%) admitted having used BNPL services at some point, an estimated 22.6 million people. When those who hadn’t used it were asked about their future plans, only 14% completely ruled out ever using BNPL services, suggesting the service may attract more users once regulations are finally in place.

BNPL usage is high among the younger generations

BNPL usage is particularly common among the younger generations, as 63% of millennials (aged 28-43) and 56% of generation Z (aged 18-27) have used it. Within the past year, 1 in 5 millennials (20%) and 1 in 6 members of generation Z (16%) began using BNPL for the first time

To see the research in full, visit: https://www.finder.com/uk/buy-now-pay-later/buy-now-pay-later-statistics

Commenting on the findings, Louise Bastock, money expert at the personal finance comparison site Finder, said:

“Until the new BNPL rules are introduced in 2026, consumers still don’t have access to key protections, such as strict affordability checks and the right to take complaints to the Financial Ombudsman if something goes wrong. What’s more, figures from September 2024 show that the average unsecured debt per UK adult, including BNPL debt, has risen to £4,308, up from £3,891 in September 2022.

“With increased accessibility and minimal fees for late payments, BNPL services do not hold people accountable in the same way as traditional credit products. This can be detrimental to consumers’ future financial health and may lead to them being denied future credit products or reported to a debt collection agency.

“If you do use BNPL, I would encourage people to view these services as a way to add some flexibility to your repayments – not as a way to buy items you can’t afford. If you’re prone to overspending, or struggle with money management, I would consider avoiding BNPL altogether.”

Methodology:

Finder commissioned Censuswide to carry out a nationally representative survey of adults aged 18+. In January 2025, a total of 2,000 people were questioned throughout Great Britain, with representative quotas for gender, age and region. The population estimates were calculated using ONS figures for the UK adult population.