The ultimate guide to BNPL
Buy now pay later (BNPL) needs little introduction. It has taken the world by storm by bringing the concept of offering traditional instalment plans for large purchases into the digital age enabling online merchants to offer instalment plans for any purchase, no matter the size. With banks riding the latest wave and providing their account and cardholders with BNPL services, there is no better time to evaluate your position when it comes to this emerging payment method.
The issue is that knowing where to start can be a challenge. However, as BNPL is such an exciting payment method, even offering the simplest proposition will immediately differentiate providers and establish a brand presence in the market. Value propositions can be evolved, launched in phases, or be expanded and flexed to suit both customer and market needs. Being inactive now will make it harder and more time-consuming to stand out down the line in a more saturated market.
In our latest guide – ‘The Ultimate Guide to BNPL’ – we breakdown the four key models of BNPL that financial institutions (FIs) and payment service providers (PSPs) can enter the market with, detailing their key characteristics, the businesses they would be most suitable for and why they need to take action now.