With success comes additional scrutiny. A recent Federal Reserve survey indicates that three-quarters of Americans are familiar with Buy Now Pay Later (BNPL) services, and nearly 10% had accepted such a deferred payment offer in the past 30 days. A modernized take on installment lending for the digital age, BNPL's rapid rise has attracted the attention of lawmakers, regulators, and companies with various stakes in the payments ecosystem.
Topics: Apple Pay, Chase Pay, Buy Now Pay Later, BNPL, CFPB, Consumer Financial Protection Bureau, Bank Regulation, Credit Union Regulation
Another day, another disruption in the payments universe. Just since we released the latest SRM Academy report on the next wave of payments disruptors, real-world examples of this phenomenon have emerged on a near daily basis. At the crest of the latest wave, Apple’s much-hyped credit card has moved beyond the bleeding edge and entered full rollout mode, complete with the barrage of enticing TV commercials Apple is known for.
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