Since its beginnings, BNPL has been associated with the idea that it is a doorway to debt. The BNPL satisfaction rating has increased, despite instances of poor user mismanagement and unclear merchant fees that have resulted in debt.

"The BNPL market has experienced rapid growth, with numerous emerging brands," stated Miles Tullo, J.D. Power's managing director of banking and payments. "The BNPL plans provided by credit card issuers are generally the most well-liked by consumers; nevertheless, brand experiences differ significantly, and some of the newest providers are seeing the biggest gains in satisfaction ratings.”


Principal results of the 2024 research

• Customer happiness with BNPL services soars: As more customers accept the point-of-sale payment option, overall customer satisfaction with BNPL services soars by 16 points annually. The main factors contributing to the rise in satisfaction are terms that are reasonable, digital account management and review simple, and account information is secure.
• The most contented customers who are financially sound: Financially sound BNPL clients make up 21% of all BNPL clients and are the most satisfied (731), overall, with BNPL services. 32% of BNPL consumption comes from customers that fall into the financially disadvantaged category, and their total satisfaction score is significantly lower (593).
• Areas for account management improvement: The simplicity of managing payments, selecting repayment options, and analyzing purchases and transactions are the top three KPIs that have the biggest effects on customer satisfaction. Between 53% and 62% of the time, these markers are met, indicating that many suppliers could do a better job with account management.
• Brand loyalty begins to surface as BNPL brand reputations rise: Customers now perceive BNPL brands as having a "good reputation" as opposed to a "bad reputation," and 48% of them say they "definitely will" repurchase the same brand, which is an increase of 4 percentage points from 2023.

Analyze study rankings

With a score of 695, American Express's Plan It has the highest BNPL satisfaction. Citi Flex Pay (676) is ranked third, and My Chase Plan (686) is ranked second.

In its second year, the J.D. Power U.S. Buy Now Pay Later Satisfaction Study is one of four connected syndicated studies that examine different POS payment options. The POS Choice Satisfaction Study, the Debit Card Satisfaction Study, and the Digital Wallet Satisfaction Study are some of its sister studies. 4,135 clients participated in the Buy Now Pay Later Satisfaction Study, which was conducted from September to November 2023.