Tag: applepaylater

The product is beneficial and economically rational—but needs some guardrails Why Buy-Now Pay-Later is Growing so Quickly Over several years there has been much interest and discussion around Buy Now Pay Later (“BNPL”) and its role within consumer credit.  The concept of paying for a purchase in installments is not a new concept at all—in the distant past however, it was incredibly inefficient compared to electronic ways to pay and finance at the point of sale, like credit cards. The use of technology to streamline the customer experience at the point of sale has brought the product back in popularity. While we are several years into its resurgence, there are still developments and shifts in the market that make it important to watch if not participate in.    A BNPL product facilitates a purchase whereby the purchase amount is split into generally four payments over a six-week timeframe without an interest cost during the payment period.[1] The product was already on a growth...