The Rise of Buy Now Pay Later (BNPL)

Consumers turn to payment options like BNPL for flexibility and convenience, to receive products upfront while paying for them in smaller installments over time. I believe the future of retail will be led by point-of-sale (POS) installment financing that is embedded into the customer journey, not just an add-on at checkout. While BNPL can be used for smaller purchases, POS financing is ideal for larger purchases, such as electronics, furniture, or jewelry. Ultimately, consumers must decide which payment option works best for them based on their spending habits and overall financial health. The future of retail is purchasing power combined with responsible, streamlined lending, and by intrinsically embedding POS financing solutions into the shopping experience, we can provide greater flexibility and transparency for consumers, as well as add value to the retailer through customer loyalty.

Christine Roberts

EVP & President of Citizens Pay