Alt-Credit App Ranking Heats Up Slightly As Summer Takes The Installment Path


We won’t name names while setting off on another PYMNTS Provider Ranking of Alternative Credit Apps — it’s all in the numbers below, as we shall see — but to give a taste of just how big alt-credit is getting, the market valuation of one high-ranking app leapt from around $10 billion eight months ago to an astounding $45 billion by mid-June. All one can say is “wow.”

And now, to wow loyalty readers of PYMNTS Provider Rankings, we dive headfirst into another slugfest between the top brands in buy now, pay later (BNPL), who are collectively rewriting the book on consumer credit while supplying merchants with a much-needed sales-boosting option.

Let’s see what’s transpired since last month.

The Top Five

At the summit, two resourceful rivals have drawn a line down the middle of the No. 1 chart position, and are staying put for now. Those No. 1 apps would be Afterpay and Klarna.

Things change a bit as we proceed, with the popular Affirm climbing to No. 2 this month, pushing also-popular QuadPay down one spot to No. 3.

Well done for FuturePay, which takes No. 4 this cycle on a one-spot bump-up.

Also dropping a spot but sticking to the top five is Sezzle, as its deal with Target Stores is still fresh.

The Top 10

Not to disappoint, but that’s about it for changing chart positions this time out with PYMNTS’ Provider Ranking of Alternative Credit Apps.

Solid at No. 6 for another cycle is the Zip Pay app, while the same can be said for Paidy, holding firm at No. 7 yet again.

Australia’s Laybuy app seems content at No. 8 for another month, as does Humm, looking fine at No. 9.

Taking us out for this Provider Ranking of Alternative Credit Apps is LazyPay, staying Zen at No. 10 for this cycle.

Now, about the mountain bike I can’t afford all at once…