Consumer adoption of Buy Now, Pay Later (BNPL) services is growing exponentially, both among low and high credit consumers. BNPL is expected to hit $100 billion in 2021, up from just $24 billion in 2020. At the same time, merchants are embracing BNPL as they realize its value in increasing cart conversions and order value and attracting new customers. The exponential growth, on both the demand and supply side, is forcing BNPL companies to elevate the customer as well as merchant experience to drive sustainable growth.
This demands seamless orchestration of multiple elements – from streamlining processes and deploying the right technologies to ensuring the human touch where needed.
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