Buy Now Pay Later (BNPL) companies allow customers to make purchases with the full amount covered by installments made over time. It’s a convenient and cheap way of buying goods and acquiring some peace of mind. Which companies are trending right now?

The shape of the industry

The industry is booming. According to Allied Market Research, BNPL is estimated to be worth $3.98T by 2030. That’s a lot. Especially, when the majority of today’s growth was generated in two recent years. The COVID-19 situation spawned the need to stay at home and consume. Some consumers couldn’t afford to buy the products they wanted or they needed more stable cash flow to do so. That’s where deferred payments came into play.

But that’s not the only driver of growth. Another one is BNPL’s popularity among Gen Z consumers. They enjoy the mechanism of instant gratification. Avoiding full payment right away and the ability to participate in the economy by using the product right away shouldn’t be overlooked.

More companies and e-commerce solutions introduce the BNPL mechanism to their ecosystems. No wonder – clients love the idea of having products right away. The trend will only continue to grow but what are the biggest benefactors? Who you should be watching right now?

Top Buy Now Pay Later companies 2022

Zip. The company allows paying in four installments over six weeks. The bonus? No impact on credit score. The app is available anywhere Visa is and can be integrated by merchants in less than 15 minutes. The merchant client base sits at over 11 million worldwide. 

Sezzle. The incredible growth of 8000% in just five years doesn’t come from nothing. Shoppers can choose from over 47.000 brands linked with the app and split their payments into four over six weeks. With over $300 million in the funding of post-IPO equity, the platform is shooting for the stars.

Splitit. A little smaller but still incredibly impressive 1400% growth in five years comes from the installments-as-as-service model. In a crowded New York space, this company is doing the right job of attracting customers. The company is focused on customer retention, driving conversions, and increasing average order value. As the industry’s track clearly shows, a customer who can pay later, order more. Splitit knows how to keep them. 

Scalapay. With 6700% growth since 2019, Scapalay is an interesting company to watch. Users can choose from Mastercard, Visa, or Amex at the checkout and buy from 1.500 merchants. Scalapay has increased online stores’ basket size by 48% and boosted conversions by 11%.

Zaver. The company offers two checkout solutions for merchants: Zaver Checkout and Zaver Cashout. With Checkout, merchants can reduce checkout friction by using payment links to digitize physical sales and quick point-of-sale user experiences, even for small cart purchases.

Paidy. It’s a Japanese platform where customers have an option to shop online without the need to register a credit card. They also don’t need a pre-registration. At the checkout, customers simply enter their email address and phone number. Then, they receive a verification code sent via SMS. The company started in 2008 and since then, the company grew by 328% in the last 5 years. 

Tamara. A very interesting company. For starters, it comes from the Middle East. It originated in Saudi Arabia and spread to the United Arab Emirates and Kuwait. The fact alone puts Tamara in its own category. Since many FinTech products grow in the Middle East, the competition out there is fierce. This app lets customers split payments not only online but at the retail store as well. Interestingly enough, even luxury brands join the hype train, including Swarovski. 

PayFlex. It’s a South African BNPL payment platform that enables customers to pay in 4 installments. With an Excellent rating from almost 25K customers on Trustpilot, merchants who use PayFlex have boosted their sales by 30%.

Hoolah. An interesting take on BNPL by a Singapore-based company. Customers make 1/3 payment upfront. The rest is split into two installments. So, three payments in total. This model varies from a standard “four installments over six weeks” scheme. Currently available in Singapore, Malaysia, and Hong Kong, Hoolah allows customers to pay online and in-person, in retail stores. 136% growth from 2018 proves the business model. 

Affirm. One of the industry’s leaders. By partnering with over 2.000 merchants and having an established position, Affirm is ready for anything. The company is booming. With 223% growth in the recent 5 years and partners like Amazon or Peloton, the app is secured in the crowded market. It’s always good to see what they are up to, therefore the place on the list.


With zero fees and interests to follow, a Buy Now Pay Later trend is here to stay. Consumers love the idea and appreciate the mechanism. The market appreciates the sentiment; companies who offer BNPL apps are getting fresh investment rounds around every corner. If you’re ready with your idea, try the option for mobile app development. If you’re not, there’s always room for FinTech R&D solutions.

Either way – hop on the train. The Buy Now Pay Later is FinTech’s future and the heroes of this article had proven it many times over.