Pick now/pay later on money exploded in pandemic since BNPL fintechs put an effective turnkey method for people with little if any borrowing from the bank so you’re able to buy things on the web, carrying out a sensation one to still has big consequences.
Some setbacks have cropped up for big BNPL fintechs like Affirm and Klarna, which have undergone sharp market devaluations in recent months in response to rising inflation, higher interest rates and intensified competition. The Consumer Financial Protection Bureau also recently said it may develop guidelines to rein in the BNPL loan providers whose practices are mostly unregulated. Continue Reading
