Fintech Takes
Fintech in 2025: Where the Industry Goes Next - BNPL 2.0
Dec 2, 2024
Rahul Shah, who leads core product at Marqeta, dives into the thriving world of Buy Now, Pay Later (BNPL) services. He discusses how BNPL has become a standard for younger consumers, expanding beyond trendy items to everyday purchases. With millions lacking traditional credit, BNPL fills a crucial gap. The conversation also explores the potential impacts on traditional credit structures. As BNPL flourishes, will it promote financial health or lead to consumer overextension? Tune in for insights on the future of payment flexibility.
26:31
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Quick takeaways
- Buy Now, Pay Later (BNPL) is thriving due to its appeal to younger consumers and its ability to serve those without traditional credit access.
- The evolving relationship between BNPL and credit cards is pushing the financial ecosystem to adapt, enhancing consumer flexibility and experience in payment options.
Deep dives
Enduring Appeal of Buy Now, Pay Later
Buy Now, Pay Later (BNPL) has gained significant traction among consumers due to its ability to meet varying financial needs, especially among those lacking access to traditional credit options. It caters to a large demographic, including younger consumers who prefer alternatives to conventional debt because they have witnessed financial struggles in previous generations. The simplicity and transparency of BNPL products, where repayments are clear and predictable, resonate well with those who may find traditional credit confusing or risky. As a result, BNPL has become an integral part of the financial landscape, appealing to consumers across diverse spending categories beyond just retail.
