Splitit - Buy Now Pay Later - June/July 2022 - A new look at why older generations are the fastest-growing BNPL user group

BNPL Finds Fans in Older, Financially Secure Consumers

Buy Now, Pay Later Tracker® – June/July 2022

BNPL’s popularity is growing among older, more economically secure demographics. In this month’s “Buy Now, Pay Later Tracker®,” a collaboration with Splitit, PYMNTS talked with Joy Elena, founder of online mattress retailer Sleepenvie,who explains why older consumers are drawn to the convenience of breaking up large payments online rather than going through other credit options.

Inside the June/July Tracker

  • An interview with Joy Elena, founder of online mattress retailer Sleepenvie, about why the future of BNPL must lean on older generations with larger spending power
  • Recent buy now pay later headlines, including why 59% of online shoppers are likely to leverage a BNPL option within the next six months and why younger consumers would be more interested in BNPL options backed by banks rather than by FinTechs
  • PYMNTS Intelligence examining BNPL’s growing popularity on the retail scene and why different demographics take different approaches to using BNPL

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