Today, Google has announced a pilot program with Affirm and Zip to bring BNPL natively into the Google Pay wallet.
Consumers continue to choose BNPL as a payment option and its popularity continues to grow, particularly during the holiday shopping season.
Consumers shopping at merchants that offer Google Pay at checkout will receive multiple BNPL options powered by both Affirm and Zip. If the consumer has an account of either of the firms they will be able to link their accounts or they will have to go through the onboarding process.
Merchants are signing up for the program hoping to see an increase in average order size with Affirm noting that its merchants average a 60% increase in order size.
It is worth noting that Apple announced Apple Pay Later, their native BNPL option, earlier this year and it rolled out to all U.S. users in October.
The Google pilot will begin in Q1 and Google will be looking to add more merchants before a full launch.
Pinwheel’s partnership with payroll provider Workday company One Source Virtual (OSV) ushers payroll into the same convenience levels as other areas of finance. It will also help banks achieve primacy with their customers.
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Peter Renton is the chairman and co-founder of Fintech Nexus, the world’s largest digital media company focused on fintech. Peter has been writing about fintech since 2010 and he is the author and creator of the Fintech One-on-One Podcast, the first and longest-running fintech interview series.