Market Research Report
Buy Now, Pay Later - New Products, New Challenges
|Buy Now, Pay Later - New Products, New Challenges|
Published: September 29, 2021
Content info: 6 Pages
Delivery time: 1-2 business days
This IDC Perspective discusses BNPL programs and their growth in the retail and payments world. Over the past few months, there has been a wave of news about "buy now, pay later" (BNPL) companies and programs. BNPL programs have grown considerably in the past several years, with explosive growth in the past 18 months. While certainly not new, the recent growth of a new wave of innovative BNPL programs is impacting the payments and lending in new ways.According to Aaron Press, research director, Worldwide Payment Strategies at IDC, "'Buy-now-pay-later programs' are bringing together innovations in business models, financial models, and technology for consumer lending. Banks have a range of opportunities to take advantage of the trend, but they need to be sure they understand the risks, rewards, and options before jumping in."