Walia sees plenty of activity in BNPL, beginning with brands partnering with banks to introduce their BNPL capability.
On Monday, Finastra and Jifiti announced a point of sale Buy Now Pay Later (BNPL) embedded finance partnership for financial institutions.
The Buy Now Pay Later (BNPL) concept continues to grow in popularity thanks to repeated exposure to potential users at points of sale, according to findings by JD Power as a part of one of their annual reports.
With regulation taking center stage, there's an opportunity for banks to take the place of some large BNPL providers and lead the space.
Research by FMI has indicated that the embedded lending market is expected to exceed $32.5 billion by 2032.
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Affirm showed confidence in their quarterly earnings call, saying they were "on track" to reach profitability next year.
BNPL providers should consider the FTC's suggestion to "conduct a compliance check," including reviewing their policies and procedures.
By offering buyers more flexible payment terms, BNPL encourages consumers to take on more debt they may not be able to repay.