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Briefing
The Rise of Buy Now, Pay Later: Bank and Payment Network Perspectives and Regulatory Considerations
Buy now, pay later (BNPL) products offered by fintechs have gained traction among consumers andmerchants in recent years and could compete with credit cards as a payment option. We explore thereactions of banks and payment networks to BNPL products as well as the current regulatory environment.
Briefing
The Appeal and Proliferation of Buy Now, Pay Later: Consumer and Merchant Perspectives
Use of buy now, pay later (BNPL) payment products has been growing in the United States. We explore the benefits and risks of BNPL products for consumers and merchants.
Discussion Paper
Who Uses “Buy Now, Pay Later?”
“Buy now, pay later” (BNPL) has become an increasingly popular form of payment among Americans in recent years. While BNPL provides shoppers with the flexibility to pay for goods and services over time, usually with zero interest, the Consumer Financial Protection Bureau (CFPB) has identified several areas of potential consumer harm associated with its growing use, including inconsistent consumer protections, and the risk of excessive debt accumulation and over-extension. BNPL proponents have argued that the service enables improved credit access and greater financial inclusion, with ...