The Consumer Financial Protection Bureau’s recently launched inquiry into the potential risks of buy now, pay later (BNPL) products could force providers to change their playbooks. By evaluating current services, providers can preemptively identify and address the practices under question—and refocus on competing for share of the skyrocketing BNPL user base.
Key Question: How should BNPL industry participants prepare for regulatory changes?
KEY STAT: The number of US BNPL users will soar from 1.6 million in 2018 to 59.3 million in 2022, driven by innovations in credit access and purchase flexibility. Growth will taper through 2025, however, as BNPL enters a post-regulation maturity phase.
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Table of Contents
Executive Summary
BNPL Providers Must Be Proactive About Regulatory Attention
CFPB Inquiry Will Change BNPL Practices and the Competitive Landscape
Executive Vice President, Product and Engineering, North America
Interviewed February 7, 2022
David Eads
Vine Financial Inc.
Co-Founder and CEO
Interviewed February 1, 2022
Ted Fifelski
Know Technologies Inc.
Co-Founder
Interviewed February 4, 2022
Tony Glasby
PPRO
Senior Vice President, Banking and Payments Strategy
Interviewed January 27, 2022
Paul Paradis
Sezzle
President
Interviewed January 28, 2022
Jim Van Dyke
Sontiq, a TransUnion Company
Senior Vice President, Innovation
Interviewed January 27, 2022
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