Electronic Payments Coalition

Understanding Buy Now, Pay Later

Buy Now, Pay Later (BNPL) is the latest, immensely popular trend within the electronic payments industry, totaling $100 billion worth of domestic purchases in 2021 alone. But despite its growing popularity, BNPL remains a confusing topic for many Americans. What precisely is Buy Now, Pay Later? How does it work? And what are its benefits and drawbacks? The Electronic Payments Coalition has the answers.

Buy Now, Pay Later (BNPL) is the latest, immensely popular trend within the electronic payments industry, totaling $100 billion worth of domestic purchases in 2021 alone.

Updated last: 
January 25, 2022

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