The Rise of Buy Now, Pay Later: Bank and Payment Network Perspectives and Regulatory Considerations

Abstract: Buy now, pay later (BNPL) products offered by fintechs have gained traction among consumers and merchants in recent years and could compete with credit cards as a payment option. We explore the reactions of banks and payment networks to BNPL products as well as the current regulatory environment.

Keywords: Buy Now Pay Later (BNPL); Payments; Credit cards;

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Bibliographic Information

Provider: Federal Reserve Bank of Kansas City

Part of Series: Payments System Research Briefing

Publication Date: 2021-12-01

Issue: December 1, 2021

Pages: 6