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.
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