Buy Now Pay Later (BPNL) is booming

According to Bloomberg, who discuss Apple and Goldman’s plans, Paypals actions and other vendors. About a two minute read.

Comment: we’ve talked about BPNL before so you’ll know my feelings — I don’t like it. There are multiple providers already operating in The UK and they don’t do a hard credit check, so its easy for consumers to run up small balances across vendors that add up to a big balance. And the article makes a good point about not only the ages of consumers participating, but about the potential for this market, specifically “According to Bloomberg Intelligence, buy now, pay later’s penetration in the U.S. may be 3% of e-commerce, but there’s room to grow—it’s about 10% in Australia.” Scary stuff.

Buy now pay later explainer