One in three Spaniards already uses BNPL as a payment option for their purchases

Oney has unveiled its new white paper analyzing trends in payment methods and how they drive commerce. One of his key conclusions is that the BNPL (Buy now, pay later) or the Deferred payments will increase by 25% in the coming years, from a current 2% market share to 3.50% in 2025.

In this work, the company has drawn on its own research and knowledge of the market, consumption and the evolution of payment methods to analyze the revolution towards deferred payments and digitalization in a key sector to promote trade.

Payment deferrals are becoming increasingly important

According to the report “Present and future of payment methods” by Oney, a 33% of Spaniards have already used deferred payments in recent years. In addition, the survey shows that another 18% recognize the possibility of using it and are in favor of it. In turn, 60% of respondents thinking about financing their purchases said they consider BNPL to be the best option for splitting their payments.

He E-commerce According to the work carried out by Oney, this is the environment in which BNPL enjoys the greatest acceptance. 52% of respondents made their delayed purchases online, compared to 34% who only used BNPL in a physical store and 14% who used it in both channels. As for the type of products for which deferred payment was used, 41% of respondents used it to purchase household items, 37% for technology and 31% for travel.

In addition, the document developed by Oney reflects the importance of inflation in purchasing decisions and how payment methods can be a tool to improve the financial organization of the population. 80% of respondents recognize this and say that upcoming holiday shopping payment decisions will be influenced by inflation.

“BNPL facilitates consumption by making certain purchases more attainable and enabling consumers to balance their personal finances. Just as credit is critical to the development of economies, payment options are critical to consumption. In doing so, they increase consumption capacity, which is of enormous importance for the younger segment.“, Alexandre Lima, Chief Marketing & Data Officer at Oney Spain.

Main trends driven by the new generations

The white paper highlights that other payment methods are being adapted as young people have greater purchasing power. In this sense, it is to be expected that mobile payment (or tap to pay), which currently has a penetration of 21.3%, remains one of the most relevant methods.

According to Oney’s research, new generations no longer handle cash and are now very interested in cryptocurrencies and tokens. Furthermore, they point out that the credit card seems archaic to them and that storing passwords will soon also be archaic.

In this way, new trends in payment methods are expected to continue to emerge, without forgetting that some of the already established payment methods have enormous growth potential. Mobile phones, the integration of PSPs (Payments Service Providers), instant payments and the globalization of companies have already become part of consumers’ daily lives and will continue to increase.

Oney presents its white paper

Oney launched its white paper “The Present and Future of Payments” at an event where the report was presented to customers and partners. Oney was present with a stand and a presentation on BNPL by Alexandre Lima, where he explained the advantages of BNPL as an alternative payment method and its impact on sales and customer satisfaction.

The white paper is a work in which Oney has analyzed the reality of the market and the main trends, carrying out extensive research to capture the opinions and experiences of customers in Spanish society. The surveys, among several thousand citizens interviewed in detail, were carried out on dates before Christmas and the summer holidays, the two points in time with the highest annual spending in families, even higher than “Back to School” or the January sales.

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