FCA finds significant increase in number of people buying now and paying later

An estimated 14 million adults across the UK used buy now, pay later (BNPL) payment options at least once in the six months leading up to January 2023, according to the City regulator.

The Financial Conduct Authority (FCA) said 27% of adults (equating to around 14 million people across the UK) used BNPL at least once in the six months prior to January 2023.