Business
2021 Peak Holiday Shopping Sees Notable Increases in BNPL, BOPIS, Early Shopping and Fraud ACI Worldwide Reports
Buy now, pay later (BNPL) transactions increased nearly 30 percent during the 2021 holiday period Supply chain fears prompted early shopping with a 28
About this update from Aci Worldwide, Inc.
[{"type":"text","content":"\n\nBuy now, pay later (BNPL) transactions increased nearly 30 percent during the 2021 holiday period\n\n\nSupply chain fears prompted early shopping with a 28 percent increase in October\n\n\nBuy online, pick up in-store (BOPIS) transactions increased 68 percent during the holiday season\n\n\nFraud attempts increased 14 percent within the retail sector between Thanksgiving and Cyber Monday—particularly with electronics items; average ticket price for fraud also increased within booming travel and ticketing sectors\n\n\n MIAMI--(BUSINESS WIRE)--\nACI Worldwide (NASDAQ: ACIW), a leading global provider of real-time digital payment software, revealed a 28 percent increase in buy now, pay later (BNPL) transactions from October to December 2021 compared to the same period in 2020, according to ACI’s eCommerce intelligence. The data showed that BNPL transactions peaked more than 43 percent in October as shoppers began their 2021 holiday shopping early.\n\nOverall, the value of transactions globally increased 28 percent in October 2021 compared to October 2020 as concerns of delivery delays and low inventory drove consumers to begin their holiday shopping early, according to ACI’s data tracking.\n\nBuy online, pick up in-store (BOPIS) adoption continued to increase 68 percent from October to December 2021 compared to the same period in 2020. Within October 2021, a peak at 99 percent was recorded compared to the same period in 2020. Consumers are also showing a continued interest in picking up their orders from in-store lockers as merchants adopt this fast and safer self-service method.\n\n“Worldwide shopping continues to evolve as consumers rapidly embrace new ways to pay or receive their goods – driven by merchant modernization and rapid consumer adaptability,” said Debbie Guerra, head of merchant payments, ACI Worldwide. “As the popularity of BNPL continues to gain traction, we saw a significant increase in the number of consumer transactions via this payment method over the 2021 holiday season. In addition, BOPIS has shown no signs of slowing down as safety measures due to the spread of Omicron have driven more consumers toward picking up their items from in-store lockers.”\n\nACI’s data showed that transactions in the travel and ticketing sectors nearly doubled (99%) between October to December 2021 compared to 2020, with November...