Projects per year
Abstract
Buy Now Pay Later (BNPL) is a growing trend in financial services and retail industries. BNPL is defined as an unregulated, interest free, short-term loan to spread or delay payment of retail goods enabled by the digital economy and FinTech (Woolard Review, 2021). Customer use BNPL providers to pay a retailer for a good or service in full at the online checkout and customer repays the cost of shopping to BNPL in instalments. Figure 1 provides and overview of the BNPL transaction process. Lack of regulations and pace of growth in BNPL services through trusted e-commerce platforms have seen significant capital flowing into their businesses. For instance, ‘Klarna’s $639 million funding round this year values the company at $45.6 billion and Square acquiring Afterpay for $29 billion.’ (Bain & Co, 2021). One of the main draws of BNPL is that it presents as a payment service. However, if customers miss a payment, they can be charged late payment fees and interest.
Original language | English |
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Publication status | Published - 11 Apr 2022 |
Event | SPRITE+ Expert Fellows Meeting - DeVere Cranage Estate , Holmes Chapel, United Kingdom Duration: 11 Apr 2022 → 12 Apr 2022 https://spritehub.org/2022/02/03/registration-now-open-sprite-expert-fellows-meeting/ |
Conference
Conference | SPRITE+ Expert Fellows Meeting |
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Country/Territory | United Kingdom |
City | Holmes Chapel |
Period | 11/04/22 → 12/04/22 |
Internet address |
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Dive into the research topics of 'Digital vulnerabilities of BNPL'. Together they form a unique fingerprint.Projects
- 1 Finished
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Buy Now Pay Later in the UK: Current and emergent digital vulnerabilities
Briggs, J.
1/11/21 → 1/03/22
Project: Research