Most US Consumers Do Not Have A “Buy Now, Pay Later” (BNPL) Loan

Despite some news headlines, 71% of US online adults are not currently paying down a “buy now, pay later” (BNPL) loan, per Forrester’s May 2025 Consumer Pulse Survey. Older online adults are even less likely to be paying off BNPL debt. And while younger US online adults are more likely than average to be paying off a BNPL loan, that’s far fewer than those same news headlines would have you believe: 62% of US online Millennial and Gen Z adults do not currently have a BNPL loan. Still, it’s notable that roughly one in 10 of these younger consumers are currently paying down more than three BNPL loans. This data snapshot examines US online adults’ adoption of BNPL loans.