Alternative Credit Apps Look To Gifting Season In Latest Provider Ranking

mobile app

From venture capital to the most hallowed names in retailing to lions of luxury brands, buy now, pay later (BNPL), installment payments and point-of-sale (POS) credit are expanding their appeal broadly in a post-pandemic world approaching winter gifting season.

Stability in financial markets is a good thing, and PYMNTS’ October Provider Ranking of Alternative Credit Apps shows the remarkable steadiness in the alt-credit app space.

The Top 5

Coming in at No. 1 yet again is Klarna, Sweden’s gift to installment payments, and a recent beneficiary of investment from Macy’s in a new partnership bridging bricks and clicks. Also unchanged at No. 2 is Affirm, now getting ready for its initial public offering, followed at No. 3 by Afterpay making deals left and right. Quadpay is the first changeup in the latest Provider Ranking of Alternative Credit Apps, rising two spots to nab the No. 4 chart position. Finishing off the Top 5 for this Ranking is Zip Pay, holding firm with interest-free POS loans.

The Top 10

We often observe more movement in the second half of the Top 10 apps, though this go-around there’s not much to report (remember … stability). In fact, the only change is Minnesota-based Sezzle, climbing one spot to secure No. 6. At No. 7 is FuturePay, followed by BNPL provider Humm, still at No. 8. Popular app Paidy is found, again, at No. 9 in the Provider Ranking of Alternative Credit Apps, with Australia-based BNPL FinTech Laybuy back at No. 10.