Recent Release | 11 Oct 2022

The Economic Impact of Buy Now Pay Later in Australia

Economic Consulting Team

Oxford Economics


Oxford Economics was commissioned to measure the economic impact of Buy Now, Pay Later (BNPL) in Australia by the Australian Finance Industry Association.

Relying on economic contribution and welfare economics approaches, we find that for Financial Year (FY) 2021, the BNPL industry helped create or retain some 99,200 jobs throughout Australia and contributed $14.3 billion in Gross Domestic Product (GDP) to the Australian economy.

Furthermore, we measure the combined consumer and merchant surplus benefits, or ‘net social surplus’, revealing merchants and consumers have continued to adopt BNPL because it provides advantages to other payment alternatives such as interest and fee savings, and growth in revenue and associated profits for merchants.

About the team

Our Economic Consulting team are world leaders in quantitative economic analysis, working with clients around the globe and across sectors to build models, forecast markets and evaluate interventions using state-of-the art techniques. Lead consultants on this project included:

Andrew Tessler
Andrew Tessler

Head of Economic Impact Consulting, Australasia, OE Australia

Raúl Arias

Senior Economist, OE Australia

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