Nearly a quarter of British buy now, pay later (BNPL) users have been charged late fees. These fees for late repayments hit younger consumers the hardest, the Financial Times (FT) reported Tuesday (Jan. 2), citing data from the nonprofit Centre for Financial Capability (CFC), showing that 22% of...
Just a few years ago, buy now, pay later was a relatively new concept — one that’s now gone mainstream, Jacqueline White, president of i2c, told Karen Webster. In 2024, BNPL is going to be increasingly on consumers’ radars and a payment option they expect...
Financial struggles are a constant challenge for those with limited access to credit, especially when unexpected emergencies arise. PYMNTS Intelligence research backs this up, showing that when faced with unforeseen expenses, 56% of all consumers and more than 80% of credit-marginalized consumers — individuals who...
From its nascent stages to its maturing as a force reshaping retail and eCommerce, installment plans, particularly buy now, pay later (BNPL) services, marked a pivotal chapter in 2023. Amid high inflation and rising costs, the payment method allowing consumers to access goods through short-term, interest-free...
The holidays are over; now it’s time to get what you really wanted for Christmas. If you’re looking to buy something now and pay over time, PYMNTS’ Provider Ranking of Buy Now, Pay Later is here to help. Some apps are tied in the ranking...
Merchants affiliated with acquirers offering installment plans are interested in their potential to boost sales, as consumers may make larger purchases if they can spread out the payments over time. Although 56% of acquirers claim they facilitate general-purpose credit card installment plans before or during...
First comes the holiday spending. Then comes the holiday spending hangover — the credit crunch that leaves consumers scrambling to meet, if they can, the newly accumulated repayment obligations. The situation might be a dire one, as individuals find they’ve stretched themselves with the spirit...
Buy now, pay later (BNPL) provider Affirm has expanded its long-standing partnership with Walmart. With this expansion, Affirm pay-over-time options will be added to self-checkout kiosks at more than 4,500 Walmart stores in the U.S., the company announced Tuesday (Dec. 19). “Recent Affirm research revealed that more than half of...
There’s an old story, possibly apocryphal, where F. Scott Fitzgerald tells Ernest Hemingway: The rich are different from you and me. Replies Hemingway: “Yeah, they have more money.” The exchange springs to mind as buy now, pay later (BNPL) sweeps the globe, and is finding...