Buy Now Pay Later is setting new trends in the payment and credit system, disrupting both the lending and payment industry. Everyone is just talking about it, such as Customers, Merchants Investors, and BNPL companies for sure. In fact, Regulators across the globe are also keeping a close eye on the development and its impact on the consumers and ecosystem as a whole.
Though the concept of post-purchase, pre-purchase, or even during the purchase isn’t new, the ease of flexibility, usage, and mutual advantages at various value chain phases is making this trend one of the fastest-growing segments in payments. Within the next decade, it is expected that $306.8 bn of e-commerce purchases will be made via BNPL, increasing from $97.2bn in 2020. Merchants have seen a lift in their sales, and GenY & GenZ generations are generally driving this new trend.