Comfino: 48% of Poles used deferred payments, 44% used installment payments in the last year

Deferred payments (BNPL) were used during shopping in the last year by 48% of Poles, instalment payments by 44%, according to the consumer survey 'Instalment and Deferred Payments 2023/24' conducted by Biostat for Comfino.pl.

"Customers are keen on deferred payments due to several factors. Firstly, they offer flexibility in budget management, allowing payments to be deferred over time or larger transactions to be split into instalments. Secondly, there is no need to pay the bill immediately - which can be attractive to those who want to minimise their financial burden at a given time. The service is characterised by its speed, intuitive process and ease of use, which further influences its selection by many customers," said Twisto Poland Country Manager Ewelina Orzechowska.

Deferred payments are most often chosen by women (84.6% of shoppers), and young people aged 25-34 (40%). The most popular shopping categories are clothing and cosmetics. The average basket value is highest for products in the "Fashion" category, with an average purchase value of PLN 204, the report stated.

As the report shows, the amounts analysed are significantly lower than in the case of instalment payments, where the average value of purchases is PLN 3.7 thousand.

Among those who have been using BNPL in the last year, one in five respondents admitted that they buy the same or a similar product in different shops, in order to choose one later and send the rest back. This way, out of his or her own pocket, he or she does not pay for them all at once to avoid freezing cash. In contrast, one in three admits that they use deferred payment to pay only after they have received and checked the product.

Deferred payments (BNPL, from Buy Now Pay Later) have been present in Poland for about ten years, and for the last few they have been growing in popularity, mainly due to big players such as Klarna, PayPo, Allegro Pay or Twisto. The way they work is very transparent: the BNPL operator pays for the purchase and the customer pays back the entire amount after 30 days. Usually without a fee, unless they forget the repayment deadline (similar to credit cards), the report indicated.

Comfino's report 'Instalment and Deferred Payments in Poland 2023/24' is based on a survey of 1,067 respondents conducted from 9-12 November 2023 via a survey in the SurvGo panel of research company Biostat, and Comfino's and Twisto's own data.

Source: Comfino and ISBnews