How BNPL Really Works - by Jeremy Solomon
fintechfundamentals.substack.com · 4,019 words · saved by 1 readers
Part payment method, part credit product, Buy Now Pay Later offers a window into the next generation of innovation in consumer lending
While I no longer have to answer the question “what firm?” when describing where I was previously employed, I still find that the general public—and even the consumer finance community—does not grasp how Buy Now Pay Later (BNPL) works. In fact, the market view feels more like a kitchen sink approach to the alphabet soup of players in modern purchase finance. While one could generically say that all BNPL players are letting a consumer (SMB is worth its own piece) purchase an item today in exchange for installments, this fails to recognize the diversity of business models and risk being taken…
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