The payment landscape has evolved in recent times, impacted by economic instability.
Both consumers and businesses are looking for new opportunities to take back control of their finances.
RFI Global Consumer and Merchant BNPL studies provide our clients with tailored data and insights to better understand the latest developments within the instalments landscape. Coverage includes awareness, usage, consideration, satisfaction and drivers of adoption.
We are still a couple of months away from BNPL regulation being brought into effect in the UK, but we can already begin to imagine the impact it will have on consumers, BNPL providers and banks, that either entered the space in 2022 or have intentions to launch their own BNPL products later this year.
Hear from RFI’s Luke Allchin as he discusses the BNPL landscape in the UK.
Read the full article here.
BNPL usage continues to grow, and evermore banks are entering the space, but who will come out on top once the regulations have reshaped the Buy Now Pay Later market?
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Two thirds of UK retailers (69%) report improvements in at least one area of their business sales and performance metrics as a direct result of offering Buy Now Pay Later (BNPL) payment to customers. Among the UK retailers offering BNPL payment, the most common benefit delivered is increase in sales conversion, with 61% of BNPL-accepting retailers indicating that it had improved their access to new-to-business customers. This drove growth in revenue for more than half (52%) of- and profits for more than a third (37%) of BNPL-accepting retailers.
Read the full article here.
BNPL is disrupting the payments industry. Its rapid acceleration is largely due to the convenience and flexibility it affords consumers and the benefits it offers providers. As this alternative payment method increases in popularity and merchant behaviours adapt to the phenomenon, discover the evolving trends and future predictions with RFI Global’s latest report, Consumers are embracing new channels and payment options and providers are taking note.
Over the last two years, we have witnessed an acceleration in the decline of cash, with digital payment methods filling the gap. This change in customer behaviour has created opportunities for BNPL, with more consumer spend moving online and a new attitude towards credit.
Our latest report details key drivers of usage, the reason behind Gen Z and Millennials’ interest and the merchant benefits. We also explore how traditional banks and BNPL providers can maintain the momentum and leverage opportunities as BNPL expands globally.
Read the full report here.