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United Kingdom Buy Now Pay Later Business Report 2024-2029: Consumers Increasingly Turning to BNPL Plans, Firms are Expanding Partnerships, 1/4 of Users have Faced Late Repayment Fees

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DUBLIN, Feb. 9, 2024 /PRNewswire/ — The “United Kingdom Buy Now Pay Later Business and Investment Opportunities Databook – 75+ KPIs on BNPL Market Size, End-Use Sectors, Market Share, Product Analysis, Business Model, Demographics – Q1 2024 Update” report has been added to ResearchAndMarkets.com’s offering.

BNPL payments in the country are expected to grow by 14.6% on an annual basis to reach US$38.76 billion 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 9.6% during 2024-2029. The BNPL gross merchandise value in the country will increase from US$33.81 billion in 2023 to reach US$61.39 billion by 2029.

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.

Amid the cost-of-living crisis, an ever-increasing number of Britons are turning to buy now pay later schemes to pay their bills. The trend is projected to continue further over the medium term. This will support the growth of the BNPL industry in the United Kingdom in 2024. To tap into the rising demand, providers are also launching new products to boost revenue and business growth.

As the adoption increases, the trend of more and more consumers falling into a debt trap is also rising in the United Kingdom market. Young consumers, especially, have become vulnerable to missed repayments and late fee charges. Overall, the publisher maintains a positive growth outlook for the BNPL industry in the United Kingdom over the next three to four years.

An increasing number of Brits are turning to buy now pay later schemes in the United Kingdom

The inflationary environment has put a strain on consumer spending power, with a vast majority of the Brits struggling to even pay their bills. As a result, millions of shoppers have turned to payment solutions like buy now pay later schemes to fund their purchases and daily lifestyle.

According to a report from Citizens Advice, 11% of consumers have used the payment method for grocery shopping. This percentage increases to 35% among frequent BNPL users. In another report, published by the Financial Conduct Authority, nearly 14 million Brits were using the BNPL schemes to make purchases in six months, leading to January 2023.

In 2024, the publisher expects the trend to further continue in the United Kingdom market. The higher uptake of the BNPL schemes is aiding the gross merchandise value and volume growth for providers. However, this is also resulting in higher delinquencies, with many users not able to make timely repayments.

A quarter of the users have faced late repayment fees to due excessive usage of BNPL schemes

The use of BNPL services has increased significantly over the last 12 months in the United Kingdom. While the payment solutions are offering easier access to credit and higher purchasing power, the risk of defaulting on borrowed money has grown substantially in the country. According to a report from the Centre for Financial Capability, nearly a quarter of the BNPL users have faced late repayment fees, during the six-month period leading to December 2023.

The trend is especially higher among young generation consumers. The report, for instance, revealed that 34% of the consumers, in the age group of 18 to 34, are experiencing charges for missed repayments during the period. The number of individuals, aged 55 and above, have also faced late fee charges. The report revealed that 7% to 10% of the users in the age group have faced charges in 2023. The adoption rate, on the other hand, is the highest among consumers aged 25 to 65.

With the adoption poised to grow further in the United Kingdom, it is imperative to boost awareness regarding late repayment charges to drive sustainable growth of the BNPL industry.

Firms are expanding their partnerships to the United Kingdom to launch new products in the market

To tap into the rising adoption of BNPL schemes and drive business growth, firms are forging strategic alliances to widen their distribution and support the growth in gross merchandise value and volume.

Klarna, for instance, entered into a strategic collaboration with Airbnb, enabling travelers to pay over time for their stays. The payment solution was initially launched in the United States, and now has been made available for the United Kingdom market. in the United Kingdom, Airbnb guests can use the payment solution for reservations priced between 35 to 4,000 pounds. Going forward, Klarna is expected to launch the Airbnb pay-over-time product in other European markets, where the firm has a strong presence already.

The report expects more such strategic collaborations in the United Kingdom BNPL market over the medium term. With firms forging alliances to widen the distribution of their product offerings, this trend will subsequently support the growth of the industry, while also driving innovation and competitive landscape in the sector over the next three to four years.

Scope

United Kingdom BNPL Market Size and Spending Pattern, 2020-2029

Gross Merchandise Value Trend AnalysisAverage Value Per Transaction Trend AnalysisTransaction Volume Trend Analysis

United Kingdom Buy Now Pay Later Revenue Analysis, 2020-2029

Buy Now Pay Later RevenuesBuy Now Pay Later Share by Revenue SegmentsBuy Now Pay Later Revenue by Merchant CommissionBuy Now Pay Later Revenue by Missed Payment Fee RevenueBuy Now Pay Later Revenue by Pay Now & Other Income

United Kingdom Buy Now Pay Later Operational KPIs & Statistics, 2020-2029

Buy Now Pay Later Active Consumer BaseBuy Now Pay Later Bad Debt

United Kingdom BNPL by Purpose, 2020-2029

Convenience – Short Term LoansCredit – Long Term Loans

United Kingdom BNPL by Business Model, 2020-2029

Two-Party (BNPL offered by retailers)Three-Party BNPL Offering

United Kingdom BNPL by Merchant Ecosystem, 2020-2029

Open Loop SystemClosed Loop System

United Kingdom BNPL by Distribution Model Analysis, 2020-2029

StandaloneBanks & Payment Service ProvidersMarketplaces

United Kingdom BNPL Analysis by Channel, 2020-2029

Online ChannelPOS Channel

United Kingdom Buy Now Pay Later in Retail Shopping: Market Size and Forecast, 2020-2029

Gross Merchandise Value Trend AnalysisAverage Value Per Transaction Trend AnalysisTransaction Volume Trend Analysis

United Kingdom Buy Now Pay Later in Home Improvement: Market Size and Forecast, 2020-2029

Gross Merchandise Value Trend AnalysisAverage Value Per Transaction Trend AnalysisTransaction Volume Trend Analysis

United Kingdom Buy Now Pay Later in Travel: Market Size and Forecast, 2020-2029

Gross Merchandise Value Trend AnalysisAverage Value per Transaction Trend AnalysisTransaction Volume Trend Analysis

United Kingdom Buy Now Pay Later in Media and Entertainment: Market Size and Forecast, 2020-2029

Gross Merchandise Value Trend AnalysisAverage Value per Transaction Trend AnalysisTransaction Volume Trend Analysis

United Kingdom Buy Now Pay Later in Services: Market Size and Forecast, 2020-2029

Gross Merchandise Value Trend AnalysisAverage Value Per Transaction Trend AnalysisTransaction Volume Trend Analysis

United Kingdom Buy Now Pay Later in Automotive: Market Size and Forecast, 2020-2029

Gross Merchandise Value Trend AnalysisAverage Value Per Transaction Trend AnalysisTransaction Volume Trend Analysis

United Kingdom Buy Now Pay Later in Healthcare and Wellness: Market Size and Forecast, 2020-2029

Gross Merchandise Value Trend AnalysisAverage Value Per Transaction Trend AnalysisTransaction Volume Trend Analysis

United Kingdom Buy Now Pay Later in Others: Market Size and Forecast

Gross Merchandise Value Trend AnalysisAverage Value Per Transaction Trend AnalysisTransaction Volume Trend Analysis

United Kingdom Buy Now Pay Later Analysis by Consumer Attitude and Behaviour

Sales Uplift by Product CategoryShare by Age GroupShare by IncomeShare by GenderAdoption RationaleAverage Monthly Expense segments

For more information about this report visit https://www.researchandmarkets.com/r/2755dl

About ResearchAndMarkets.com

ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

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3M announces collaboration with GSEO to advance Expanded Beam Optical manufacturing and development

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ST. PAUL, Minn., Oct. 19, 2026 /PRNewswire/ — 3M (NYSE: MMM) today announced a collaboration with Genius Electronic Optical Co., Ltd. (GSEO, Taiwan: 3406), an optical technology company, to advance technology development and manufacturing for 3M’s Expanded Beam Optical (EBO) solutions. In support of these efforts, 3M expects to make a strategic investment to acquire approximately 4.7% of GSEO’s common shares as part of the company’s private placement of newly issued shares, subject to customary closing conditions.

The collaboration brings together 3M’s EBO technology leadership, optical interconnect expertise, materials science, manufacturing scale and customer relationships with GSEO’s precision optics manufacturing capabilities and production scale. Together, the companies aim to support EBO commercialization and long-term capacity expansion to meet growing demand from hyperscale data centers and other advanced connectivity applications.

“3M is investing in capabilities and partnerships that can accelerate innovation for our customers,” said William Brown, 3M Chairman and CEO. “By selecting GSEO as a manufacturing partner and investing in the company, we are strengthening the path to scale next-generation optical connectivity solutions for high-performance data center infrastructure.”

GSEO’s existing precision optics manufacturing capabilities and technical development experience are expected to support manufacturing readiness for 3M’s EBO ferrules, co-packaged optics solutions and related optical interconnect applications. The collaboration is part of 3M’s broader EBO ecosystem strategy, which includes continued work with customers and partners across the optical interconnect market.

“GSEO is pleased to expand its relationship with 3M as we work together to advance optical interconnect solutions for next-generation data center infrastructure,” said Micro Kuo, GSEO CEO and President. “This collaboration brings together complementary technology and manufacturing strengths to support continued innovation and help meet the performance demands of high-growth connectivity markets.”

3M expects the strategic investment to close in the fourth quarter of 2026, subject to customary closing conditions.

Forward-Looking Statements
Certain statements in this release are considered “forward-looking statements” under the federal securities laws, including the Private Securities Litigation Reform Act of 1995, as amended, and are intended to enjoy the protection of those laws. Forward-looking statements may appear throughout this release and are typically identified by the words “aim,” “anticipate,” “believe,” “can,” “continue,” “could,” “estimate,” “evaluate,” “expect,” “forecast,” “future,” “goal,” “guidance,” “impact,” “initial,” “intend,” “likely,” “may,” “outlook,” “plan,” “possible,” “potential,” “predict,” “probable,” “project,” “seek,” “should,” “strategy,” “target,” “will,” “would,” and other words that are similar to, or have the opposite meanings of, those words. Forward-looking statements speak only as of the date they are made, 3M assumes no duty to update those statements, and readers are cautioned not to place undue reliance on any of those statements. Forward-looking statements are based on certain assumptions and expectations of future events and trends that are subject to risks and uncertainties, including those described in Part I, Item 1A, “Risk Factors” of 3M’s Form 10-K for the year ended December 31, 2025.

About 3M
3M (NYSE: MMM) is focused on transforming industries around the world by applying science and creating innovative, customer-focused solutions. Our multi-disciplinary team is working to solve tough customer problems by leveraging diverse technology platforms, differentiated capabilities, global footprint, and operational excellence. Discover how 3M is shaping the future at 3M.com/news.

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3M
Investor Contact:
Diane Farrow, 612-202-2449
Media Contact:
3MNews@mmm.com 

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Scott Vicknair Personal Injury Lawyers Announces Second Annual Operation Fur-Ever Home Pet Adoption Event at Lafreniere Park

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NEW ORLEANS, Oct. 19, 2026 /PRNewswire/ — Scott Vicknair Personal Injury Lawyers is excited to announce the return of its second annual Operation Fur-Ever Home, a free community pet adoption event taking place on Saturday, November 14, 2026, from 9:00 a.m. to 11:00 a.m. at Lafreniere Park in Metairie, Louisiana.

The free, family-friendly event will give attendees the opportunity to meet adoptable pets from local animal shelters, learn about responsible pet ownership, and potentially welcome a new furry companion into their homes. Those who preregister for the event will also be entered for a chance to win a Soundcore speaker and a free pet adoption.

“Last year’s event was everything we hoped it would be, and we are incredibly excited to bring Operation Fur-Ever Home back for a second year,” said David Vicknair, founding partner of Scott Vicknair Personal Injury Lawyers. “There is something special about watching a family meet a pet that could become part of their lives for years to come. We wanted to create another opportunity to make those connections while supporting the organizations that work tirelessly to care for animals in our community.”

Building on the success of the first event, this year’s event continues the firm’s commitment to supporting local animal shelters and creating meaningful opportunities for families throughout Southeast Louisiana.

“Giving back to our community has always been an important part of who we are as a firm,” said Vicknair. “Whether we are helping students prepare for school, recognizing deserving teachers, or supporting local animal shelters, our goal is to make a positive difference in the communities we serve.”

Operation Fur-Ever Home is free and open to the public. Families, animal lovers, and anyone interested in adopting a pet are encouraged to attend and preregister.

About Scott Vicknair Personal Injury Lawyers

Scott Vicknair Personal Injury Lawyers is a New Orleans-based personal injury firm committed to providing exceptional legal representation while also investing in the communities it serves. Their experienced team of dedicated attorneys specializes in car accidents, personal injury, and wrongful death cases in New Orleans. With diverse personal and professional backgrounds, they craft legal strategies tailored to each client’s specific case and needs.

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Can we produce low-cost omega-3s without relying on fish?

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GOLD COAST, Australia, Oct. 19, 2026 /PRNewswire/ — Southern Cross University researchers are aiming to halve the cost of producing omega-3 supplements to make these essential nutrients more accessible to pregnant women and infants in low-income countries, backed by the University’s first-ever grant from The Gates Foundation.

The research takes a novel approach: rather than relying on fish oil, the team is going closer to the original source of omega-3. Fish don’t produce omega-3 themselves – they accumulate it from marine microorganisms lower in the food chain.

Led by Professor Dirk Erler from Southern Cross University’s Faculty of Science and Engineering, the team is investigating how these naturally omega-3-producing microorganisms can be grown more cheaply through precision fermentation, including the use of agricultural and food-processing by-products as a source of fermentation sugar.

Omega-3 is an important nutrient during pregnancy and early life, supporting brain and nervous system development in babies. But the cost of supplements remains a significant barrier to access in many low-income countries.

“The main barrier for the uptake of omega-3s as supplements in pregnant women is the cost,” Professor Erler said.

“The whole objective of our project is to reduce that cost and make omega-3 supplements more available.”

The research team at Southern Cross University, which includes biomedical scientist Dr Nedeljka Rosic, Dr Shane McIntosh, postdoctoral researcher Dr Jasmine Haskell and PhD researcher Michael Ingram, is focused on growing omega-3-producing marine microorganisms known as thraustochytrids – or ‘throstys’ for short.

“By growing those microorganisms on land through precision fermentation, we have an alternative way of producing omega-3s that is both reliable and highly targeted,” Professor Erler said.

Precision fermentation allows the researchers to grow thraustochytrids under controlled conditions to produce omega-3 oils. The team is investigating whether expensive feedstocks used in the process can be replaced with lower-cost agricultural and food-processing by-products, helping drive down the overall cost of production.

The approach could also reduce reliance on wild-caught fish as a source of omega-3 oil and create a more reliable, scalable, and local supply.

For biomedical scientist Dr Nedeljka Rosic, the production challenge is ultimately about what greater access to omega-3 could mean for women and babies.

“As a biomedical scientist, my purpose is to find ways to use science to improve people’s health,” Dr Rosic said.

“This project is important because it aims to improve the health of pregnant women and children and reduce preterm births through simple dietary improvements.”

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SOURCE Southern Cross University

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