The Buy Now Pay Later (BNPL) market is a retail payment option that allows customers to purchase goods and services now and pay for them later. This payment option is becoming increasingly popular among consumers, as it allows them to spread the cost of their purchases over a period of time. BNPL is often used as an alternative to traditional credit cards, as it does not require a credit check and does not incur interest or fees.
BNPL is typically offered by retailers as an additional payment option, allowing customers to pay for their purchases in installments. This payment option is often used for larger purchases, such as furniture, electronics, and appliances. It is also becoming increasingly popular for everyday purchases, such as groceries and clothing.
Some of the companies in the BNPL market include Afterpay, Klarna, Affirm, Sezzle, and Quadpay. Show Less Read more