• Very prevalent in Latin America and in Europe
• Mobile and touchless payments are just 1/3 in the US. BNPL allows American consumers to use touchless payments and can drive this global trend even further
• M-Commerce growth is being fueled. During Black Friday and Cyber Monday, we just have witnessed over 54% of those sales online actually happened over mobile devices. 

• We all talk about shift to online and mobile as well
• Retail is still a 6 trillion dollar business

• BNPL can provide that attachment between online and in-store. Some retailers that we work with, we see them thinking about new ways to connect their physical and online channels. 
• New terms such as BOPIS and BORIS have emerged -- "Buy Online, Pick up in Store" and "Buy Online, Return in Store".
• Some of those omnichannel trends will be key when you're going to once again open stores

• Affirm's mission is to create honest financial products that improve people's lives
• BNPL is a solution to credit card. A lot of people have gotten tricked because of credit cards
• Each transaction a consumer makes is underwritten separately
• Affirm does not charge any late fees or deferred interest so consumers know exactly how much they're going to pay

• BillMeLater is recognized as one of the forerunners of the modern BNPL fintech industry.  
• Maryland-based, BillMeLater started in the 2000s and was acquired by PayPal’s parent company, eBay, in 2008. 
• PayPal previously had “Pay Later”, but was then transformed into the new BNPL unit which included BillMeLater, and then rebranded to PayPal Credit.
• Since the emergence of BillMeLater, there have been more BNPL companies that entered the market from the US, UK, Sweden and Australia
• The BNPL market has changed over the last five years because of the rise of the deferred debit model. This model changes the dynamic on who pays the fees to the length of payments and potentially reduces risks. PayPal Credit (formerly BillMeLater) was an innovator of the BNPL installment loan segment, but Afterpay was an early innovator when it came to the deferred debit segment. 
• Afterpay is still currently leading the deferred debit BNPL payments.

BillMeLater has been in the “BNPL game” far longer than anyone else.

• Established payment providers such as PayPal are also currently offering BNPL services, while Citibank and AMEX are offering post-transaction financing at affordable rates.
• Currently there is also little brand loyalty with BNPL providers. This gives BNPL providers the opportunity to uniquely position themselves to win brand loyalty. 
• As e-commerce continues to boom, BNPL providers will also be expecting more consumer segments to use their platform. 

• Dr. Anna Brismar

71 percent of consumers are indicating a shift into high quality garments and a deepened interest towards circular models such as resale, rental or refurbishment following covid. So we’re really seeing brands on a global scale that are working with these new expectations from consumers.