Want to create an interactive transcript for this episode?
Podcast: Payments on Fire™
Episode: Episode 143 - The Buy Now Pay Later Challenge to Credit Issuers - Chris Bixby, Sezzle - Payments on Fire® Fintech Series
Description: Continuing our payments in fintech series, we talk about one of the major changes in the payments industry over the last few years: the installment lending phenomenon. Companies like AfterPay, Klarna, and Affirm (that just IPO'd and saw its stock double in one day) are leaders in this buy now, pay later (BNPL) space and appeal to Millennial and Gen Z users as well as the merchants selling to them. These firms offer a range of installment payment options: three, six, and 12 month payback periods are typical. The interest rate gets lower the shorter the payback period...