The market share of BNPL (Buy Now Pay Later) in worldwide e-commerce payments doubled from 2019 to 2021, and now stands at a total share of 3% globally. In 2016 it was only 0.4%.
Financial institutions, e-commerce merchants, customers, and regulators will inevitably have to familiarize themselves with the opportunities and, of course, challenges of this disruptive trend.
Certainly, BNPL is attractive to customers because it allows them to buy a product immediately without paying the full amount at the time of purchase, but a few challenges need to be faced when dealing with this kind of payment.
Find out how an information solutions provider like CRIF can be an important partner for BNPL players to ensure the smooth and effective running of BNPL processes.
Find out all about it in the article below, “Let them pay later: Making the most of a trend”, published in The Banker.
Read more here.