Every fourth customer has used BNPL services in the last six months
More than a quarter of respondents have used BNPL services in the past six months, according to new research from Mastercard’s World Payments Advisory™ across more than 50 countries. For BNPL users, “forgetting the payment deadline” was the main reason why they missed a transfer earlier. The “fear of hidden costs” proved to be the factor most hindering the spread of BNPL services.
- New Buy Now, Pay Later (BNPL) program gives consumers a flexible, ubiquitous way to pay online and in-store through equal, interest-free installments – an additional choice to debit, credit or prepaid cards.
- Mastercard Installments enables banks, lenders, fintechs and wallets the ability to offer BNPL experiences at merchants with flexibility across the entire acceptance network.
- Seamless integration into Mastercard’s trusted network enables merchants to quickly offer secure BNPL solutions backed by the security and peace of mind that comes with Mastercard.
- Mastercard Installments offers comprehensive consumer protections with respect to responsible data use and fee transparency.
- Mastercard to work with Barclays US, Fifth Third, FIS, Galileo, Huntington, Marqeta, SoFi, and Synchrony in the U.S., and with Qantas Loyalty and Latitude in Australia on the BNPL program.
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