Payments News

‘Buy Now, Pay Later’ Soars On Debit’s Charm

Jun 24, 2020

Like contactless payments, “buy now, pay later” (BNPL) companies are having a right time, right idea moment thanks to COVID-19, as consumers look to stretch every dollar — buying time, as it were — until livings and revenues are adequately restored across a reeling economy.

Because BNPL emerged from the Great Recession, that mindset is deeply embedded among those that have snapped up this unique form of point-of-sale installment payments.

“Post-2009, millennials demonstrated a clear aversion to financial risk, especially for lifestyle purchases, resulting in a tangible shift away from credit cards. Today, this trend is repeating itself,” Nick Molnar, U.S. CEO and co-founder of BNPL firm Afterpay told PYMNTS.

By PYMNTS

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