#POSFinance #BNPL / Citi BNPL Option Now On Amazon

Citi credit card holders can now use the company’s Flex Pay option to buy products on Amazon… The buy now, pay later (BNPL) plan, in partnership with Amazon, allows Citi card users to choose from a variety of plans. There are 3, 6, 12 and 48-month options…

[Citi:] “Citi and Amazon saw an opportunity to offer another convenient, easy financing option at checkout.”

… PYMNTS reported demand is rising for flexible payment options that allow consumers to make large purchases without incurring interest or debt… New York-based BNPL provider Splitit said it processed more than $65 million in merchant sales in the second quarter, a stunning 260 percent year-over-year increase… Afterpay, the Australia-based installment payments firm, said it recently added more than 1 million U.S. users in 10 weeks… [Nick Molnar, co-founder of Afterpay:] “… it’s more important than ever that retailers offer a true omnichannel solution, both online and in-store…”