#BNPL / Changing the Game: The Rise of the Buy Now Pay Later Consumer

From big recent M&A in the BNPL space to the rash of installment payment offerings recently launched by both fintechs and incumbent financial services companies alike, it is clear that Buy Now Pay Later is one of the hottest trends in fintech and e-commerce right now.

[QuadPay co-CEO and co-founder Brad Lindenberg:]

There are a number of factors in play that have led to the rapid ascent of buy now, pay later (BNPL) globally in 2020. First, consumers – particularly millennials – are wary of high interest credit cards and accruing additional debt…

Secondly, BNPL empowers retailers to provide their customers with flexibility to pay over time, which ultimately fosters customer loyalty, increases conversions, and a better customer experience…

The future for BNPL is very bright. We are only in the nascent stages of adoption in the U.S. market and expect installment payments to become as ubiquitous as “Visa accepted here” logos at checkout or at the register in-store. Consumers will begin to expect merchants to offer interest-free, installment payments as an alternative to high interest credit cards…

https://finovate.com/changing-the-game-the-rise-of-the-buy-now-pay-later-consumer/