Mastercard is reportedly automatically enrolling merchants in its buy now, pay later (BNPL) program Mastercard Installments—though they do have the option to opt out. US BNPL payment volume is expected to grow 77.3% year over year (YoY) in 2022 and hit $75.60 billion, according to Insider Intelligence forecasts. Next year volume is forecasted to grow 25.5% YoY and reach $94.87 billion. Twenty-seven percent of US respondents said they have used BNPL services and 22% said they hadn’t used it but were at least somewhat interested in doing so, per a June 2022 Insider Intelligence survey. Mastercard’s vast merchant network and technology expertise gives its BNPL program a competitive advantage over incumbent BNPL providers like Afterpay or Klarna. And Mastercard’s ties to banks may reduce the perception of risk and add clout since they can promote the BNPL service to their customers.