Summary

According to PayNXT360, BNPL payments in the country are expected to grow by 14.4% on an annual basis to reach US$70,076.4 million in 2024.

The medium to long-term growth story of the BNPL industry in the country remains strong. BNPL payment adoption is expected to grow steadily over the forecast period, recording a CAGR of 9.3% during 2024-2029. The BNPL gross merchandise value in the country will increase from US$61,277.4 million in 2023 to reach US$109,282.1 million by 2029.The buy now pay later industry is thriving on the back of rising inflation and subsequent decline in disposable income in Germany. The trend, in 2024, is projected to continue with adoption rising among consumers across age groups. The uptake is expected to be especially higher among young generation consumers. As a result, PayNXT360 expects the buy now pay later market to grow at a significant rate over the medium term in Germany.

To tap into the high-growth market, new players have also entered the industry in 2023. Going forward, PayNXT360 expects more firms to launch their innovative products to cater to the growing demand among Germans. This will drive the competitive landscape and support innovation in the sector. Overall, PayNXT360 maintains a robust growth outlook for the BNPL industry over the next three to four years in Germany.

The buy now pay later sector is growing at a strong rate amid higher adoption in the German market

With rising interest rates and inflationary pressure, consumers are flocking towards flexible payment solutions like BNPL at an accelerated pace in Germany. According to a report from Schufa, the German credit rating agency, there has been a 30% increase in BNPL usage in 12 months. The adoption, specifically, is much higher among young generation shoppers in Germany.
In 2022, Schufa has reported over 9.1 million contracts, which is a 30 percent increase compared to 2021. Although most people are managing to repay these loans on time (97.9%), the increasing cost of living is making it harder for individuals to meet their financial commitments. The adoption of BNPL is growing faster in the smaller loan category. According to the report, more than 3.8 million of the 9.1 million contracts amounted to under 1,000 euros. This shows that an overall 42% of the BNPL loans fall under the small loan category in Germany.
In 2024, the adoption of BNPL loans is expected to further increase in the German market, due to a persistent decline in disposable income amid a higher inflationary environment. This trend will support the growth of the industry over the medium term.

Germany-based fintech firms are entering the market with their BNPL product launches

With the industry projected to record strong growth over the next three to four years, more and more fintech firms are seeking to tap into the growth opportunity. These firms are launching their products, while also driving the competitive landscape in the sector.
• Unzer, known for its payment and commerce solutions, launched a new buy now pay later product upaylater in 2023. This product combines invoice, installment payment options, and direct debit into a single interface, making it more convenient for merchants to offer BNPL services that customers are increasingly asking for. Unzer has a decade-long history of providing basic invoice, installment, and guaranteed direct debit payment methods, and now it aims to further expand its presence in the BNPL market.
Going forward, PayNXT360 expects more such fintech firms to launch their innovative BNPL product offerings in the German market, subsequently driving the competitive landscape and market growth over the next three to four years.

To save consumers from BNPL debt traps, e-commerce providers are partnering with startups to launch a save now pay later service in Germany

The adoption has been growing at a rapid rate among young generation consumers, which in turn, is also driving the problem of delinquencies and debt trap. Consequently, to drive responsible consumption, e-commerce providers are forging strategic partnerships with innovative startups to launch save now pay later products in the market.
• Zalando, in 2023, entered into a strategic collaboration with Savrr to launch the save now pay later payment option on the e-commerce platform. The counterpart of buy now pay later, save now pay later aims to drive more responsible consumption among shoppers.
The widening distribution of save now pay later products, through such strategic collaborations, can dampen the growth of the buy now pay later industry in the German market over the medium term.

The BNPL payment industry in Germany has recorded strong growth over the last four quarters, supported by increased e-commerce penetration.

This report provides a detailed data-centric analysis of the Buy Now Pay Later (BNPL) industry, covering market opportunities and risks across a range of retail categories. With over 75 KPIs at the country level, this report provides a comprehensive understanding of BNPL market dynamics, market size and forecast, and market share statistics.

It breaks down market opportunities by type of business model, sales channels (offline and online), and distribution models. In addition, it provides a snapshot of consumer behaviour and retail spending dynamics. KPIs in both value and volume terms help in getting an in-depth understanding of end market dynamics.

PayNXT360’s research methodology is based on industry best practices. Its unbiased analysis leverages a proprietary analytics platform to offer a detailed view of emerging business and investment market opportunities.


• Get a comprehensive understanding of market dynamics for Buy Now Pay Later: Identify market opportunities, major trends, and forecasting (2020-2029). Understand market trends through crucial KPIs like Gross Merchandise Value, Volume, and Average Value per Transaction, to stay ahead of the curve.

• Insights by end-use sectors: Evaluate new opportunities across multiple end-use sectors, and obtain market dynamics by end-use sectors in order to swiftly catch up with the latest and upcoming developments in BNPL markets.

• Market-specific strategies: Identify growth segments focused on specific opportunities, and analysing market-specific risks and important trends in the BNPL sector with our exclusive blend of quantitative forecasting and innovative insights.

• Gain knowledge of consumer attitudes and actions: This report identifies and interprets important Buy Now Pay Later KPIs, such as spend by age, gender, and income level, using data from a proprietary survey.

• Develop proactive and lucrative business strategies through market intelligence and forward-looking analysis of BNPL market spend and major opportunities in Germany.

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Table of Contents

1 About this Report
1.1 Summary
1.2 Methodology
1.3 BNPL Definitions
1.4 Disclaimer

2 Germany Buy Now Pay Later Industry Attractiveness
2.1 Germany Buy Now Pay Later – Gross Merchandise Value Trend Analysis, 2020-2029
2.2 Germany Buy Now Pay Later – Average Value Per Transaction Trend Analysis, 2020-2029
2.3 Germany Buy Now Pay Later—Transaction Volume Trend Analysis, 2020-2029
2.4 Germany Buy Now Pay Later Market Share Analysis by Key Players

3 Germany Buy Now Pay Later Operational KPIs
3.1 Buy Now Pay Later Revenues, 2020-2029
3.2 Buy Now Pay Later Share by Revenue Segments, 2020-2029
3.2.1 Buy Now Pay Later Revenue by Merchant Commission, 2020-2029
3.2.2 Buy Now Pay Later Revenue by Missed Payment Fee Revenue, 2020-2029
3.2.3 Buy Now Pay Later Revenue by Pay Now & Other Income, 2020-2029
3.3 Buy Now Pay Later Active Consumer Base, 2020-2029
3.4 Buy Now Pay Later Bad Debt, 2020 – 2024 – 2029

4 Buy Now Pay Later Spend Analysis by Business Model, 2020-2029
4.1 Buy Now Pay Later Two-Party Business Model, 2020-2029
4.2 Buy Now Pay Later Three-Party Business Model, 2020-2029

5 Buy Now Pay Later Spend Analysis by Purpose, 2020-2029
5.1 Buy Now Pay Later Convenience, 2020-2029
5.2 Buy Now Pay Later Credit, 2020-2029

6 Buy Now Pay Later Spend Analysis by Functional Attribute, 2020-2029
6.1 Buy Now Pay Later by Open Loop System, 2020-2029
6.2 Buy Now Pay Later by Closed Loop System, 2020-2029

7 Buy Now Pay Later Spend Analysis by Distribution Model, 2020-2029
7.1 Buy Now Pay Later by Standalone, 2020-2029
7.2 Buy Now Pay Later by Banks & Payment Service Providers, 2020-2029
7.3 Buy Now Pay Later by Marketplaces, 2020-2029

8 Germany Buy Now Pay Later Spend Analysis by Sales Channel
8.1 Buy Now Pay Later Market Share by Sales Channel, 2020-2029
8.2 Buy Now Pay Later Online Channel Market Size and Forecast, 2020-2029
8.3 Buy Now Pay Later POS Channel Market Size and Forecast, 2020-2029

9 Germany Buy Now Pay Later Snapshot by End-Use Sector, 2020-2029
9.1 Buy Now Pay Later Market Share by End-Use Sector, 2023
9.2 Buy Now Pay Later Sales Uplift by End-Use Segment, 2023

10 Germany Buy Now Pay Later in Retail Shopping: Market Size and Forecast, 2020-2029
10.1 Germany Buy Now Pay Later Retail Shopping – Gross Merchandise Value Trend Analysis, 2020-2029
10.2 Germany Buy Now Pay Later Retail Shopping – Average Value Per Transaction Trend Analysis, 2020-2029
10.3 Germany Buy Now Pay Later Retail Shopping – Transaction Volume Trend Analysis, 2020-2029

11 Germany Buy Now Pay Later Market Size and Forecast by Retail Product Categories
11.1 Buy Now Pay Later Share by Retail Product Category, 2023
11.2 Germany Buy Now Pay Later Retail Shopping - Apparel, Footwear & Accessories – Gross Merchandise Value Trend Analysis, 2020-2029
11.3 Germany Buy Now Pay Later Retail Shopping - Consumer Electronics – Gross Merchandise Value Trend Analysis, 2020-2029
11.5 Germany Buy Now Pay Later Retail Shopping - Toys, Kids, and Babies – Gross Merchandise Value Trend Analysis, 2020-2029
11.6 Germany Buy Now Pay Later Retail Shopping - Jewellery – Gross Merchandise Value Trend Analysis, 2020-2029
11.7 Germany Buy Now Pay Later Retail Shopping - Sporting Goods – Gross Merchandise Value Trend Analysis, 2020-2029
11.8 Germany Buy Now Pay Later Retail Shopping - Entertainment & Gaming – Gross Merchandise Value Trend Analysis, 2020-2029
11.9 Germany Buy Now Pay Later Retail Shopping - Others – Gross Merchandise Value Trend Analysis, 2020-2029

12 Germany Buy Now Pay Later in Home Improvement: Market Size and Forecast, 2020-2029
12.1 Germany Buy Now Pay Later Home Improvement – Gross Merchandise Value Trend Analysis, 2020-2029
12.2 Germany Buy Now Pay Later Home Improvement – Average Value Per Transaction Trend Analysis, 2020-2029
12.3 Germany Buy Now Pay Later Home Improvement – Transaction Volume Trend Analysis, 2020-2029

13 Germany Buy Now Pay Later in Travel: Market Size and Forecast, 2020-2029
13.1 Germany Buy Now Pay Later Travel – Gross Merchandise Value Trend Analysis, 2020-2029
13.2 Germany Buy Now Pay Later Travel – Average Value Per Transaction Trend Analysis, 2020-2029
13.3 Germany Buy Now Pay Later Travel – Transaction Volume Trend Analysis, 2020-2029

14 Germany Buy Now Pay Later in Media and Entertainment: Market Size and Forecast, 2020-2029
14.1 Germany Buy Now Pay Later Media and Entertainment – Gross Merchandise Value Trend Analysis, 2020-2029
14.2 Germany Buy Now Pay Later Media and Entertainment – Average Value Per Transaction Trend Analysis, 2020-2029
14.3 Germany Buy Now Pay Later Media and Entertainment – Transaction Volume Trend Analysis, 2020-2029

15 Germany Buy Now Pay Later in Service: Market Size and Forecast, 2020-2029
15.1 Germany Buy Now Pay Later Service – Gross Merchandise Value Trend Analysis, 2020-2029
15.2 Germany Buy Now Pay Later Service – Average Value Per Transaction Trend Analysis, 2020-2029
15.3 Germany Buy Now Pay Later Service – Transaction Volume Trend Analysis, 2020-2029

16 Germany Buy Now Pay Later in Automotive: Market Size and Forecast, 2020-2029
16.1 Germany Buy Now Pay Later Automotive – Gross Merchandise Value Trend Analysis, 2020-2029
16.2 Germany Buy Now Pay Later Automotive – Average Value Per Transaction Trend Analysis, 2020-2029
16.3 Germany Buy Now Pay Later Automotive – Transaction Volume Trend Analysis, 2020-2029

17 Germany Buy Now Pay Later in Healthcare and Wellness: Market Size and Forecast, 2020-2029
17.1 Germany Buy Now Pay Later Healthcare and Wellness – Gross Merchandise Value Trend Analysis, 2020-2029
17.2 Germany Buy Now Pay Later Healthcare and Wellness – Average Value Per Transaction Trend Analysis, 2020-2029
17.3 Germany Buy Now Pay Later Healthcare and Wellness – Transaction Volume Trend Analysis, 2020-2029

18 Germany Buy Now Pay Later in Others: Market Size and Forecast, 2020-2029
18.1 Germany Buy Now Pay Later Others – Gross Merchandise Value Trend Analysis, 2020-2029
18.2 Germany Buy Now Pay Later Others – Average Value Per Transaction Trend Analysis, 2020-2029
18.3 Germany Buy Now Pay Later Others – Transaction Volume Trend Analysis, 2020-2029

19 Germany Buy Now Pay Later Analysis by Consumer Attitude and Behaviour, 2020-2029
19.1 Buy Now Pay Later Spend Share by Age Group, 2023
19.1.1 Germany Buy Now Pay Later by Age Group – Gen Z (15-27) – Gross Merchandise Value Trend Analysis, 2020-2029
19.1.2 Germany Buy Now Pay Later by Age Group – Millennials (28–44) – Gross Merchandise Value Trend Analysis, 2020-2029
19.1.3 Germany Buy Now Pay Later by Age Group – Gen X (45 – 60) – Gross Merchandise Value Trend Analysis, 2020-2029
19.1.4 Germany Buy Now Pay Later by Age Group – Baby Boomers (60+) – Gross Merchandise Value Trend Analysis, 2020-2029
19.2 Buy Now Pay Later Spend Share by Default Rate by Age Group, 2023
19.3 Buy Now Pay Later Share by Income, 2023
19.3.1 Germany Buy Now Pay Later by Income Level – Tier 1 – Gross Merchandise Value Trend Analysis, 2020-2029
19.3.2 Germany Buy Now Pay Later by Income Level – Tier 2 – Gross Merchandise Value Trend Analysis, 2020-2029
19.3.3 Germany Buy Now Pay Later by Income Level – Tier 3 – Gross Merchandise Value Trend Analysis, 2020-2029
19.4 Buy Now Pay Later Gross Merchandise Value Share by Gender, 2023
19.5 Buy Now Pay Later Adoption Rationale, 2023
19.6 Germany Buy Now Pay Later Market – Spend by Average Monthly Expense Segments, 2023

20 Further Reading
20.1 About PayNXT360
20.2 Related Research

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List of Tables/Graphs

Table 1: Germany Buy Now Pay Later – Gross Merchandise Value Trend Analysis (US$ Million), 2020-2029
Table 2: Germany Buy Now Pay Later – Average Value Per Transaction Trend Analysis (US$), 2020-2029
Table 3: Germany Buy Now Pay Later – Transaction Volume Trend Analysis (Thousand), 2020-2029
Table 4: Germany Buy Now Pay Later – Revenues (US$ Million), 2020-2029
Table 5: Germany Buy Now Pay Later – Merchant Commission (US$ Million), 2020-2029
Table 6: Germany Buy Now Pay Later – Missed Payment Fee Revenue (US$ Million), 2020-2029
Table 7: Germany Buy Now Pay Later Pay Now – Other Income (US$ Million), 2020-2029
Table 8: Germany Buy Now Pay Later – Active Consumer Base (Thousand), 2020-2029
Table 9: Germany Buy Now Pay Later – Bad Debt (US$ Million), 2022-2024-2029
Table 10: Germany Buy Now Pay Later – Two-Party Business Model (US$ Million), 2020-2029
Table 11: Germany Buy Now Pay Later – Three-Party Business Model (US$ Million), 2020-2029
Table 12: Germany Buy Now Pay Later – Convenience (US$ Million), 2020-2029
Table 13: Germany Buy Now Pay Later – Credit (US$ Million), 2020-2029
Table 14: Germany Buy Now Pay Later – Open Loop System (US$ Million), 2020-2029
Table 15: Germany Buy Now Pay Later – Closed Loop System (US$ Million), 2020-2029
Table 16: Germany Buy Now Pay Later – Standalone (US$ Million), 2020-2029
Table 17: Germany Buy Now Pay Later – Banks & Payment Service Providers (US$ Million), 2020-2029
Table 18: Germany Buy Now Pay Later – Marketplaces (US$ Million), 2020-2029
Table 19: Germany Buy Now Pay Later – Gross Merchandise Value by Online Channel (US$ Million), 2020-2029
Table 20: Germany Buy Now Pay Later – Gross Merchandise Value by POS Channel (US$ Million), 2020-2029
Table 21: Germany Buy Now Pay Later Retail Shopping – Gross Merchandise Value Trend Analysis (US$ Million), 2020-2029
Table 22: Germany Buy Now Pay Later Retail Shopping – Average Value Per Transaction Trend Analysis (US$), 2020-2029
Table 23: Germany Buy Now Pay Later Retail Shopping – Transaction Volume Trend Analysis (Thousand), 2020-2029
Table 24: Germany Buy Now Pay Later Retail Shopping - Apparel, Footwear & Accessories – Gross Merchandise Value Trend Analysis (US$ Million), 2020-2029
Table 25: Germany Buy Now Pay Later Retail Shopping - Consumer Electronics – Gross Merchandise Value Trend Analysis (US$ Million), 2020-2029
Table 26: Germany Buy Now Pay Later Retail Shopping - Toys, Kids, and Babies – Gross Merchandise Value Trend Analysis (US$ Million), 2020-2029
Table 27: Germany Buy Now Pay Later Retail Shopping - Jewellery – Gross Merchandise Value Trend Analysis (US$ Million), 2020-2029
Table 28: Germany Buy Now Pay Later Retail Shopping - Sporting Goods – Gross Merchandise Value Trend Analysis (US$ Million), 2020-2029
Table 29: Germany Buy Now Pay Later Retail Shopping - Entertainment & Gaming – Gross Merchandise Value Trend Analysis (US$ Million), 2020-2029
Table 30: Germany Buy Now Pay Later Retail Shopping - Others – Gross Merchandise Value Trend Analysis (US$ Million), 2020-2029
Table 31: Germany Buy Now Pay Later Home Improvement – Gross Merchandise Value Trend Analysis (US$ Million), 2020-2029
Table 32: Germany Buy Now Pay Later Home Improvement – Average Value Per Transaction Trend Analysis (US$), 2020-2029
Table 33: Germany Buy Now Pay Later Retail Shopping Home Improvement – Transaction Volume Trend Analysis (Thousand), 2020-2029
Table 34: Germany Buy Now Pay Later Travel – Gross Merchandise Value Trend Analysis (US$ Million), 2020-2029
Table 35: Germany Buy Now Pay Later Travel – Average Value Per Transaction Trend Analysis (US$), 2020-2029
Table 36: Germany Buy Now Pay Later Travel – Transaction Volume Trend Analysis (Thousand), 2020-2029
Table 37: Germany Buy Now Pay Later Media and Entertainment – Gross Merchandise Value Trend Analysis (US$ Million), 2020-2029
Table 38: Germany Buy Now Pay Later Media and Entertainment – Average Value Per Transaction Trend Analysis (US$), 2020-2029
Table 39: Germany Buy Now Pay Later Media and Entertainment – Transaction Volume Trend Analysis (Thousand), 2020-2029
Table 40: Germany Buy Now Pay Later Service – Gross Merchandise Value Trend Analysis (US$ Million), 2020-2029
Table 41: Germany Buy Now Pay Later Service– Average Value Per Transaction Trend Analysis (US$), 2020-2029
Table 42: Germany Buy Now Pay Later Service – Transaction Volume Trend Analysis (Thousand), 2020-2029
Table 43: Germany Buy Now Pay Later Automotive – Gross Merchandise Value Trend Analysis (US$ Million), 2020-2029
Table 44: Germany Buy Now Pay Later Automotive – Average Value Per Transaction Trend Analysis (US$), 2020-2029
Table 45: Germany Buy Now Pay Later Automotive – Transaction Volume Trend Analysis (Thousand), 2020-2029
Table 46: Germany Buy Now Pay Later Healthcare and Wellness – Gross Merchandise Value Trend Analysis (US$ Million), 2020-2029
Table 47: Germany Buy Now Pay Later Healthcare and Wellness – Average Value Per Transaction Trend Analysis (US$), 2020-2029
Table 48: Germany Buy Now Pay Later Healthcare and Wellness – Transaction Volume Trend Analysis (Thousand), 2020-2029
Table 49: Germany Buy Now Pay Later Others – Gross Merchandise Value Trend Analysis (US$ Million), 2020-2029
Table 50: Germany Buy Now Pay Later Others – Average Value Per Transaction Trend Analysis (US$), 2020-2029
Table 51: Germany Buy Now Pay Later Others – Transaction Volume Trend Analysis (Thousand), 2020-2029
Table 52: Germany Buy Now Pay Later by Age Group – Gen Z (15-27) – Gross Merchandise Value Trend Analysis (US$ Million), 2020-2029
Table 53: Germany Buy Now Pay Later by Age Group – Millennials (28–44) – Gross Merchandise Value Trend Analysis (US$ Million), 2020-2029
Table 54: Germany Buy Now Pay Later by Age Group – Gen X (45 – 60) – Gross Merchandise Value Trend Analysis (US$ Million), 2020-2029
Table 55: Germany Buy Now Pay Later by Age Group – Baby Boomers (60+) – Gross Merchandise Value Trend Analysis (US$ Million), 2020-2029
Table 56: Germany Buy Now Pay Later by Income Level – Tier 1 – Gross Merchandise Value Trend Analysis (US$ Million), 2020-2029
Table 57: Germany Buy Now Pay Later by Income Level – Tier 2 – Gross Merchandise Value Trend Analysis (US$ Million), 2020-2029
Table 58: Germany Buy Now Pay Later by Income Level – Tier 3 – Gross Merchandise Value Trend Analysis (US$ Million), 2020-2029