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Majority of credit card users planning to use BNPL
Survey results show that 54 per cent of UK credit card users will use ‘buy now pay later’ products over the coming year.

More than half of UK credit card users are planning to use buy now pay later (BNPL) services within the next 12 months, according to new data released by Instalment payments provider Splitit.
The company commissioned a survey titled UK Consumer Perspectives: Credit cards and Buy Now Pay Later, to investigate credit card holders’ attitudes towards spending, specifically around BNPL.
Confirming the sector’s continued rise in popularity, 46 per cent of respondents said they saw using BNPL services as a smarter way to manage their finances.
A huge 87 per cent of respondents also confirmed that for larger purchases of over £1,000, such as home furnishings, improvements or travel, repayments across more than four instalments would be preferable.
Splitit claims to be the market’s only credit card-based instalment payments solution, allowing consumers to use their credit card balance to pay for higher-ticket items over time without interest or fees.
“The rise of online shopping has empowered consumers to become more financially aware, giving them easier access to tools to help them more effectively manage their money,” said John Harper, Splitit’s interim CEO. “With so many shoppers planning to use BNPL services, I expect 2022 to be the year of the financially savvy shopper, innovatively managing money to maximise personal benefit.”
It's good news for retailers too, with the survey showing that 53 per cent of credit card holders would spend more with a merchant if they could pay back the sum over a longer duration.
Splitit’s results did show a growing preference for hybrid BNPL products that work with credit cards, with almost half of respondents preferring to use their existing credit card to make instalment payments.
Even with regulation looming large, BNPL looks like it’s here to stay.