I see these Buy Now Pay Later services absolutely everywhere now. Seems like it’s rarer to find an online store that doesn’t have one or more of these as a payment option.
I’m sure they represent just a small percentage of total ecommerce transactions still, but given their growth it seems completely possible that they grow to a point where they are taking real share away from traditional credit and debit card purchases (since using BNPL totally bypasses these traditional payment rails), which impacts credit card issuers like Chase and Amex and also the card networks like Visa and Mastercard. It also impacts traditional card payment processors like a Stripe or Adyen.
Point is I’ve up until recently just assumed that payment processors and Visa and Mastercard were untouchable winners in the continued shift to e-commerce but these new services have come out of nowhere and seem to be catching on really fast to their detriment.
Submitted November 21, 2020 at 11:43PM by prplput https://ift.tt/3pTgwCY
