Global Legal’s Bill M. Petti Featured in The Green Sheet
- March 1, 2023
A version of this article originally appeared on The Green Sheet. See the original post here.
Offering BNPL options in 2023
Written By Bill M. Petti
———
Buy now, pay later (BNPL) allows consumers to make purchases online over a series of installments. Innovated in Australia, this method of payment blew up during the pandemic, during which time consumers shifted almost primarily to online shopping. But what is BNPL, exactly? BNPL is a form of credit that allows a consumer to split a retail transaction into smaller, interest free installments and repay over time. Simply put, BNPL is a type of installment loan.
BNPL is most commonly offered as a pay-in-four plan. Say, for example, that a consumer purchases a $400 shirt from an online retailer: if the consumer exercises this installment plan, then the consumer will pay $100 at checkout and the remainder in varying intervals…
———
You can read more of this article and Bryce’s comments here.
Recommended Post
-
CFPB investigates business practices of Data Brokers. Is your personal data safe?
On March 15, 2023, the Consumer Financial Protection Bureau (CFPB) released a request for...
Read More -
New Gun Sales Merchant Code to be added by Card Networks
The International Organization for Standardization (ISO) yielded to demands from gun-control activists and...
Read More -
California Arbitration Ban Ruled Invalid by Ninth Circuit Court
On February 15, 2023 the Ninth Circuit Court of Appeals struck down AB...
Read More