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Main motivation for consumers in selected countries in Latin America on why they used buy now, pay later (BNPL) more often in 2024

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Source

In cooperation with
Release date

August 2024

Region

Argentina, Brazil, Chile, Colombia, Ecuador, Central and South America, Mexico, Peru

Survey time period

May to June 2024

Number of respondents

728 respondents

Age group

18 years and older

Special properties

Consumers, whose use of BNPL schemes increased compared to one year before

Method of interview

Online survey

Supplementary notes

The source phrased the question as follows: "You say your usage of Buy Now Pay Later (BNPL) has increased, why is that? Select all that apply"

The results have been weighted to represent the entire population.

The source does not clarify whether multiple answers were possible.

The source did not survey respondents from the Asia-Pacific region, the Middle East, or Africa.

Citation formats

Main reasons for the increased use of BNPL in 7 countries in Latin America 2024

Published by ÌÇÐÄÆƽâ°æ Research Department, Dec 2, 2024

Budgeting was a much more important reason to chose BNPL schemes in Latin America than any other type of motivation. This is according to a survey conducted in different countries across the region. Motivations for BNPL use were largely the same, with only small differences between countries. In Brazil, for example, budgeting was still the main reason for using BNPL, but it was of less importance than in a country like Mexico. The most significant difference could be seen in regard to needing a purchase quickly.

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