BNPL volume at banks and credit unions will grow about 75% year over year between November 1 and December 31, according to a forecast from equipifi, which sells the software those institutions use to run their own BNPL programs. equipifi CEO Bryce Deeney said October volume is already running at double last year’s pace. equipifi expects the number of people using bank-run BNPL to rise about 60%, while returning users are spending roughly 8% more than a year ago. First-time users should make up about 30% of holiday shoppers on those programs, down from 44% last season. The forecast comes from equipifi’s own index of more than 1 billion transactions from 4 million households at over 100 institutions, so it only counts BNPL that banks and credit unions offer to their own customers.
