Fintechs powered 49% of personal loans in 2019. With the rise of Buy Now, Pay Later (BNPL) and Earned Wage Access (EWA), that number has certainly increased.
Typically, Buy Now, Pay Later (BNPL) is an option that allows consumers to make installment payments on purchases over $100. There’s a quickly growing demand for it.
Buy Now, Pay Later (BNPL) is the biggest payments trend that credit unions aren’t using.
That needs to change ASAP.
In 2020, everything changed. The pandemic fundamentally shifted the way we work, bank, and play toward digital. What role will cash play in our future? And how does that affect credit unions?