2022 BNPL Roundup: Turmoil or Transition?

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Money and credit go back almost as far as one can remember – it’s inherent in our financial systems. When one’s purchasing power is lower than their expenses, personal loans are usually the best option for most people who qualify. However, these are too large and come with high-interest rates, a ton of credit checks and documentation, and additional fees. The next best option? Credit cards. At the same time, not everyone qualifies for a credit card, and even if they do, not everyone applies. Enter Buy Now, Pay Later (BNPL) as a medium to extend instant, unsecured, interest-free, short-term, low-ticket, and embedded credit in customer journeys to enable convenient shopping experiences and more business for merchants.Although the notion finds its roots back in the 19th century, the last decade is where BNPL has truly flexed its muscle. By allowing an interest-free, alternate financing option to consumers for their purchasing journeys, the BNPL sector promised to build a fertile ground for payment-related experiences to breed on. Estimated to reach $680B in transaction volume worldwide by 2025, the segment has accelerated point-of-sale financing through the various discoverable platforms and card-linked installment offerings.We have cautiously and comprehensively tracked the rumblings and roars […]

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