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As of 2025, two in five UK adults – 42% – have used BNPL services at some point, according to findings from personal finance site Finder.
Senior Journalist, covering the Credit Strategy and Turnaround, Restructuring & Insolvency News brands.
Senior Journalist, covering the Credit Strategy and Turnaround, Restructuring & Insolvency News brands.
And there’s no signs of this slowing down, with one in eight saying they’d used these services – an equivalent of 6.8 million people – for the first time in 2024. Meanwhile, of those who hadn’t used it were asked about their future plans, only 14% completely ruled out ever using it in future.
By demographics, BNPL usage is particularly common among the younger generations – as 63% of millienials – aged between 28 and 43 – and 56% of generation Z – aged between 18 and 27 – have used it.
Meanwhile, within the past year one five millennials – 20% – and one in six members of generation Z – 16% – began using BNPL for the first time.
All this comes despite the continuing lack of regulation in the sector, with proposed regulatory changes only set to come into force in 2026.
Commenting on these findings, Finder money expert Louise Bastock 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.”
BNPL will be just one of a number of topics discussed at this year’s Credit Week, to find out more and book you’re tickets click here.
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