I think this shows a number of payment and financial dynamics at play Cost of living Flexibility Friction See what’s right for your business but more importantly do what’s right for your customers
According to Financial Conduct Authority research, approximately 14 million (27%) of UK adults used Buy Now Pay Later (BNPL) as a payment method at least once in the last half of 2022. This is an increase from the 12 months between May 2021 and May 2022 which saw just 17% using BNPL as a payment channel. "Our research shows a significant increase in the use of BNPL over the past year. When used appropriately, the product provides valuable benefits, but we want to ensure that consumers, particularly those in vulnerable circumstances, have adequate protections and are given sufficient information." Sheldon Mills, Executive Director, Consumers and Competition at the FCA. Read more in Finextra: https://ow.ly/PHXu50Qajc2
