In 2022, 2 in 3 Americans are more interested in BNPL than they were prior to the pandemic.
This infographic summarizes the results of a U.S consumer survey, investigating the trends, behaviors, and opinions of 1,000 U.S Americans on Buy Now, Pay Later (BNPL) as an alternative payment method for dental care and veterinarian costs.
The survey results provided interesting trends regarding budgeting practices for high-cost care, the sustainability of paying off high-balance bills, and how COVID-19 changed the perception of BNPL for Americans.
According to the survey findings, 69 percent of Americans worry about future dental costs. In contrast, two-thirds of U.S pet owners worry about future veterinarian costs, indicating a lack of easy and accessible funds to pay for care. Seventy-one percent surveyed said they would regularly use BNPL over traditional payment methods, such as credit card, debit, or cash when visiting the dentist. The trend was even higher for pet owners, as 86 percent stated they too would opt for BNPL over traditional payment methods. These findings are mainly due to BNPL’s payment flexibility and fixed rates.
Of all participants surveyed, the bulk of the respondents indicated that payment flexibility is the most desirable feature of BNPL, with 43 percent of dental patients and 43 percent of pet owners reporting their preference.
The online survey of 1,000 Americans was commissioned by Opy and conducted by market research company 72Point Inc. between January 20, 2022, and January 24, 2022.