It goes by many names. “Instant credit.” “Point-of-sale (POS) lending.” And the moniker perhaps best-known — “buy now, pay later” — attends this dynamic corner of commerce, as reflected in PYMNTS latest Provider Ranking of Alternative Credit Apps.
The Top 5
Surprises and upsets in charts and rankings are always more thrilling, which makes the Provider Ranking of Alternative Credit Apps a bit unexciting, in that it’s been so stable.
Topping the list at No. 1 is Sweden’s alt-lending powerhouse Klarna, the popularity of which endured a tough first half. At No. 2 is Affirm, currently eyeing an initial public offering (IPO), followed at No. 3 by Afterpay, which just expanded into Canada. No. 4 this go-around is Utah-based FuturePay, with interest-free POS lender Zip Pay making it into the Top 5 at No. 5.
The Top 10
At No. 6 we find Quadpay, another interest-free POS lender, with growing Sezzle at No. 7. Grabbing the No. 8 spot for this Ranking is the Humm app, with BNPL brand Paidy making it to No. 9, and Australia’s Laybuy capping this Provider Ranking of Alternative Credit Apps at No. 10.