TROY, Mich. — Buy Now, Pay Later (BNPL) services continue to gain traction among U.S. consumers, with more than one-third of shoppers recently using the payment option, according to a new study from J.D. Power.
The 2026 U.S. Buy Now Pay Later Satisfaction Study, released by J.D. Power, found that 37% of U.S. consumers used a BNPL service to make a purchase within the past 90 days, a five-percentage-point increase from a year earlier.
The study indicates that as BNPL services mature and providers introduce new offerings, consumers are increasingly relying on the payment method to manage everyday spending.
“The 2026 study shows sustained and rapid growth of BNPL, driven largely by increased use of services offered by FinTech providers,” said Sean Gelles, senior director of banking and payments at J.D. Power. “When it comes to overall satisfaction, however, the traditional financial institutions are delivering a much more positive user experience.”
Gelles added that the findings highlight an opportunity for banks and other traditional financial institutions.
“This signals an enormous opportunity for traditional financial institutions,” he said. “Customers are looking for BNPL solutions from the brands they already know and trust.”
Banks See Satisfaction Gains
Although bank-branded BNPL products account for a relatively small portion of total BNPL spending, the study found that customer satisfaction with bank-based services rose significantly.
According to J.D. Power, the average satisfaction score for bank-branded BNPL services reached 704 on a 1,000-point scale, up 59 points from the previous year. By comparison, FinTech BNPL providers posted an average satisfaction score of 603, which declined by 17 points year over year.
The study also highlighted potential opportunities for banks to expand BNPL offerings at the point of sale.
Among consumers using BNPL services linked to their credit cards, 52% said they decided to use a fixed payment plan after completing the purchase, while 48% chose the installment option at the time of checkout, according to J.D. Power. The results suggest banks could capture more BNPL activity by integrating installment options directly into checkout or point-of-sale systems.
Four-Payment Plans Most Common
The research also found that the most widely used BNPL structure remains the “pay in four” installment plan.
J.D. Power reported that 82% of FinTech BNPL users and 73% of bank BNPL customers repay purchases in four equal installments.
Debit cards are the most common funding source for BNPL transactions, with 64% of FinTech customers linking their BNPL payments to a debit card, the study found.
Rankings
Among providers, Chase ranked highest in overall BNPL customer satisfaction, with a score of 706. Plan It by American Express ranked second with 703, followed by Citi Flex Pay with 687, according to J.D. Power.
About the Study
The U.S. Buy Now Pay Later Satisfaction Study, now in its fourth year, is part of the broader J.D. Power Checkout and Point of Sale Choice Study. Related research modules include the J.D. Power Debit Card Satisfaction Study and the J.D. Power Digital Wallet Satisfaction Study.
The 2026 BNPL study surveyed 3,909 customers and was conducted between January 2025 and January 2026, according to J.D. Power.
