While BNPL has been criticized as an easy way for shoppers to run up high debts, it's also being touted as an easy-to-understand payment method that's attractive to all.
How did competition between the top consumer debt contenders heat up over the long-awaited holiday shopping spree?
The use of buy now, pay later (BNPL) services has exploded over the past few years, and only now are we beginning to learn the impact of that boom.
Several factors are contributing to rising rates of BNPL fraud, Sift's trust and safety architect Brittany Allen said. Through its end-to-end Digital Trust and Safety Platform, Sift helps clients proactively stop fraud at crucial transaction points while fuelling growth.
Despite high interest rates and risks of a reccesion, many BNPL fintech providers now vie to offer loans to the underbanked in Mexico.
Buy Now Pay Later startups in Latin America could provide a way for lenders to finally reach the underbanked.
The Buy Now Pay Later (BNPL) concept continues to grow in popularity thanks to repeated exposure to potential users at points of sale, according to findings by JD Power as a part of one of their annual reports.
BNPL providers should consider the FTC's suggestion to "conduct a compliance check," including reviewing their policies and procedures.
Ongoing uncertainty in BNPL regulation could make streamlined links between traditional providers and merchants to provide solutions key.
Buy Now Pay Later is taking off in Latin America as an alternative for short-term financing and financial inclusion.