Can incentivized savings be the new future for fintech?

There is no lack of Buy Now, Pay Later news in fintech, with hundreds of BNPL startups around the world vying for a piece of the pie. The trend has also attracted the attention of established giants, from Citi, J.P. Morgan Chase, and American Express, to Apple, PayPal, and Amazon, all competing for customers who want the ability to spread payments over time. Even the B2B space is catching on, with ACI Worldwide launching a new product for merchants to enable them to offer customers payment options with more than 70 BNPL lenders.

While paying in installment isn’t new, the rapid rise in popularity of BNPL and easy access to credit has sparked concerns that it will encourage excessive consumerism and debt. In this episode of One Vision, Theo chats with Michael Hershfield, founder and CEO of Accrue Savings, on balancing consumption and savings, and seeing the world with a human lens.