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GMV rose 40% to $13.3 billion. Earnings per share were $9.74, up nearly 44% and well ahead of the $8.27 forecast. The company also reported 66.6 million unique active buyers, a 25% increase from a year ago.

It credits the card with its Q1 2025 success: Roughly 2 million cardholders generated $807 million in GMV. Prior to the Klarna Card’s US rollout, Klarna did offer a credit card to American consumers. However, adoption of this card was tepid—why get a credit card from a BNPL provider if you’re using BNPL to avoid credit card financing?

Partnering with World Market can help Affirm grow its home and lifestyle category, which accounted for just 6% of its gross merchandise volume (GMV) in Q3 FY 2025 (ending March 31, 2025). Home and lifestyle GMV grew 20% YoY during the quarter, underperforming overall GMV’s 35% bump.

That uncertainty, along with tariffs, is beginning to chill sales: TikTok Shop’s US GMV fell by over one-fifth during the week reciprocal tariffs were announced compared with the prior week, per EchoTik data reported by the South China Morning Post. Other markets are beginning to take precedence. With US growth prospects uncertain, ByteDance is hastening its entry into new markets.

Klarna’s gross merchandise volume (GMV) rose 10% YoY to a whopping $25.3 billion—four times that of its nearest competitor, Affirm. Klarna benefits from a much more established international presence than ´¡´Ú´Ú¾±°ù³¾â€™s US-heavy base. Narrowing in on the US market, our forecast shows Affirm and Klarna are neck-in-neck in payment value.

The card’s gross merchandise volume (GMV) jumped up 113% YoY during the quarter. The buy now, pay later (BNPL) provider has been looking for new ways to grow its overall card presence. It partnered with FIS in February, letting FIS’ bank partners integrate ´¡´Ú´Ú¾±°ù³¾â€™s BNPL solution directly into their existing debit card programs. Our take: This tie-up can help Affirm propel its overall volume growth.

Klarna’s gross merchandise volume (GMV) in 2024 totaled $105 billion, almost double its $53 billion in 2020. Klarna’s revenues totaled $2.8 billion in 2024, and net profit hit $21 million. It boasts 93 million active consumers and 675,000 merchants. We forecast Klarna will reach $41.54 billion in US-only GMV by 2028, up from an expected $30.42 billion this year.

´¡´Ú´Ú¾±°ù³¾â€™s GMV for the 2024 calendar year was $31.2 billion. PayPal’s BNPL payment volume was approximately $33 billion last year. Afterpay’s GMV totaled $33.25 billion. And Klarna’s GMV totaled a massive $71.96 billion for the first nine months of 2024. Zip must also contend with smaller players like Sezzle, which boasted impressive growth in its most recent quarter.

´¡´Ú´Ú¾±°ù³¾â€™s GMV for the 2024 calendar year was $31.2 billion. PayPal’s BNPL payment volume was approximately $33 billion last year. Afterpay’s GMV totaled $33.25 billion. Klarna posted a massive $71.96 billion in GMV for the first nine months of 2024 thanks to its expansive presence in Europe. Our take: Sezzle still has a long way to go to catch up to its competitors.

It will help the BNPL player keep growing its GMV, which shot up 35% YoY in its most recent quarter.

Affirm Card gross merchandise volume (GMV) jumped 113% YoY in the quarter ending December 31, 2024. And the number of active Cash App cardholders increased by 1 million in 2024. Dig deeper: For more on how fintech-linked debit cards are giving the payment method a boost, read our State of Payment Methods 2025 report.

Gross merchandise volumes (GMV) grew by 25.7% year over year (YoY) to $94.46 billion, outpacing FactSet’s consensus estimate of $93 billion. Revenues accelerated 31.2% YoY to $2.81 billion, topping analysts’ expectations of $2.73 billion. Adjusted earnings per share (EPS) jumped to 44 cents, up 29% YoY and well ahead of the expected 35 cents.

The news: Shop Pay’s gross merchandise volume (GMV) jumped 50% YoY in 2024, per Shopify’s Q4 2024 earnings release. This volume came from more than 200 million Shop Pay users and represented 38% of Shopify’s total GMV, up from 33% in 2023. What drove growth: Holiday spend gave Shop Pay a boost: GMV over the Cyber 5 Weekend shot up 58% YoY.

Alibaba also got a sizable bump from the extended Singles Day shopping season, which helped boost gross merchandise volume (GMV), as well as efforts to extract more revenues from sellers in the form of software service fees and advertising sales. At the same time, Alibaba’s cross-border influence is growing.

Gross merchandise volume (GMV) jumped up 35% YoY. Growth highlights: ´¡´Ú´Ú¾±°ù³¾â€™s volume got a boost from a few key segments. GMV from third-party marketplaces during the Black Friday/Cyber Monday weekend grew 44% YoY. GMV from travel increased 42% over the same period. Expanding beyond traditional retail categories is also paying off: Professional and legal services GMV surged 60% YoY.

TikTok Shop joins Amazon in holding a July sale: The marketplace hopes exclusive discounts on brands like L’Oréal and live-shopping events will boost GMV.

Affirm Card GMV jumped up 113% YoY in its Q2 FY 2025 earnings (ended December 31, 2024). The BNPL provider redesigned its app during the quarter to better promote the card. This tie-up with FIS will help Affirm further this goal by bringing the BNPL option to more debit cards, which can grow its payments volume both online and in stores.

Beauty and personal care accounted for 22.5% of TikTok Shop’s gross merchandise value (GMV) as of November 2024, per AfterShip data. TikTok leads social platforms for beauty purchases. More than 44% of social shoppers had made a beauty purchase via TikTok, per our US Social Commerce survey conducted in March 2024, just six months after TikTok Shop launched.

In our inaugural forecast, Xiaohongshu—a beauty and lifestyle social media platform—will generate a gross merchandise value (GMV) of $31.41 billion, up 50.0% in 2024 versus 2023. Retail livestreaming has reached a major milestone. This year, for the first time, livestreaming will account for 25.4% of retail ecommerce spending.

Walmart’s gross merchandise value (GMV) is growing the fastest. Interestingly, Douyin, including TikTok, is No. 2, according to ECDB. May 22, 2025. What’s the most popular category for graduation gifts this year? A) Electronics. B) Clothes/footwear. C) Toys/hobbies/collectibles. D) Jewelry/accessories.

(However, this isn’t a perfect comparison with credit card issuers—Klarna calculates its loss rate as a fraction of GMV rather than loans). Despite losses from the BNPL industry remaining low, it doesn’t mean BNPL habits aren’t a cause for concern.