"It wasn't just shoppers with strapped budgets that boosted buy-now, pay-later services to a record-setting $1 billion in transactions on Cyber Monday."
""Retailers have gotten a lot smarter, where payments shouldn't just be a bottom-of-the-funnel thing," he said. "Doing site takeovers and having full 'surround-sound' marketing across that journey are the things that work really well.""
""We've had a really deliberate focus on expanding our merchant network beyond our original strengths in fashion and retail, and you see a lot of that flow through," Parikh said."
Buy-now, pay-later (BNPL) transactions reached a record $1 billion on Cyber Monday. Brands and fintech companies broadened BNPL availability and promoted options beyond pay-in-four, including six-month 0% plans and 24-month installment loans with interest. BNPL services integrated into digital wallets such as Apple Pay and Cash App. Retailers amplified BNPL through marketing, discounts and site takeovers to position offers earlier in the purchase journey. Merchants added BNPL across sectors, including higher-end apparel, wellness, travel and ticketing, expanding beyond the original fashion and retail strengths.
Read at Digiday
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