“In 2021 and beyond, we don’t expect this trend to change,” Afterpay Co-CEO Nick Molnar told PYMNTS. “Young shoppers are increasingly wary of credit and loans with interest, fees and revolving debt as demonstrated by spending trends worldwide. The new way to pay with BNPL empowers shoppers to use their own money in a responsible and safe way. Financial wellness and budgeting is and will continue to be the way young people pay for things.”If there was a defining trend for payments in 2020, or a trend that gained the most traction compared to 2019, it was buy now, pay later (BNPL).
For more information,visit:https://www.pymnts.com/news/payment-methods/2020/bnpl-rtp-year-payments-ends-digital-first-note/