TLDR Tech / Fintech
Buy Now Pay Later usage surges as new products proliferate, JD Power finds
Installment-based payment services are becoming a routine spending tool for Americans, with 37% of consumers using Buy Now Pay Later in the past 90 days. While fintech providers still dominate usage, traditional banks are outperforming them on customer satisfaction, signaling an opportunity for banks to capture share by embedding installment options directly into credit cards and checkout experiences. The data also shows most purchases are repaid using the classic “pay in four” model and are typically funded through debit cards.
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