Klarna is the most popular buy now, pay later (BNPL) service in the US, with 34.8 million users ages 14 and older. Afterpay takes the No. 2 spot with 20.0 million, and Affirm comes in third with 14.0 million.

Super apps in Asia, such as WeChat, Alipay, and mobile messaging app Line, have dominated ecommerce and online services in the region for years. Now, some Western apps are trying to build their own super apps by creating marketplaces next to their core financial, social, or delivery services. Most of these apps use a combination of monetization methods, including commissions and ad serving.

These deals could help both firms sustain business as recession fears, higher competition, and looming BNPL regulation threaten growth.

BNPL attracts users who are higher-risk and younger than the general credit-seeking population, a TransUnion study found.

By 2026, nearly 30% of US consumers’ average retail spending (excluding food and beverage sales and ticketing) will be made using proximity mobile payments, as providers look to build on the pandemic-driven adoption of the technology.

How should businesses view these global trends and events? How are behaviors and spending changing? In this report, Insider Intelligence analysts weigh in on the questions they’re being asked by both clients and the media about the shifting landscape in key areas like digital advertising, retail and ecommerce, and financial services.

After doubling its transaction volume in its fiscal Q3, Affirm wants to focus on turning a profit.

The new offering connects online shoppers with in-store retail associates and can help attract merchants to Klarna.

Fiserv will let merchant clients using Carat offer Affirm to their customers as demand for BNPL intensifies.

U.S. Bank follows early success with BNPL updates: It’s rolling out its ExtendPay product to business customers and looks well-positioned to take market share from nonbank BNPL players.

Dimon warns of competition diminishing banks’ role in financial services: The JPMorgan Chase CEO’s annual letter to shareholders identified rising competitors and defended tech spending as necessary for maintaining the bank’s standing.

Increasing digitization among the 32 million US small businesses is changing the competitive landscape and forcing banks, acquirers, and fintechs to invest in next-generation features. These features range from payments and value-added services to outreach.

Despite only holding about $9.1B in assets, the US bank has attracted big-name fintech clients and another funding round.

Walgreens and other major brands joined Mastercard Installments, further sharpening Mastercard’s edge in the BNPL space.

The two firms can help each other relieve competitive pressures in their respective industries.

The discount retailer launched bank accounts and debit cards with Incomm Payments, a BNPL pilot with Sezzle, and a rewards redemption program with FIS.

Insider Intelligence spoke with David Sykes, head of Klarna’s North America division.

The CEO of M&T Bank urged US industry watchdogs to hold alternative lenders to the same regulatory standards as traditional banks.

Despite losses surging more than 300%, Klarna’s gross merchandise volume grew 42% YoY, and it hit 147 million active consumers.

BNPL providers should prepare now for potential regulatory changes affecting credit reporting, customer creditworthiness, late fees, and more.