Buy now, pay later: a cross-country analysis

Buy now, pay later (BNPL) schemes let consumers spread their spending over a number of interest-free instalments, which are typically unreported to credit bureaus. BNPL is growing strongly, especially in countries with strong e-commerce, higher inflation, inefficient banking systems and less stringe...

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Bibliographic Details
Published inBIS Quarterly Review pp. 61 - 75
Main Authors Cornelli, Giulio, Gambacorta, Leonardo, Pancotto, Livia
Format Magazine Article
LanguageEnglish
Published Basel Bank for International Settlements 01.12.2023
Subjects
Banking
Borrowing
Consumers
Credit bureaus
Credit card industry
Credit cards
Credit risk
Credit scoring
Customers
Electronic commerce
Fees & charges
Investment advisors
Operating costs
Payday loans
Purchasing
Securities markets
United States > US
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Summary:Buy now, pay later (BNPL) schemes let consumers spread their spending over a number of interest-free instalments, which are typically unreported to credit bureaus. BNPL is growing strongly, especially in countries with strong e-commerce, higher inflation, inefficient banking systems and less stringent regulations. Used to a greater extent by young adults, who are typically heavily indebted and have low credit scores, BNPL schemes suffer higher delinguency rates than traditional consumer credit.
Bibliography:content type line 24
ObjectType-Review-1
SourceType-Magazines-1
ISSN:1683-0121