One click to debt: 'buy now, pay later' is fintech's flavour of the year
BNPL action is really heating up in emerging markets; the route is now seeing increased scrutiny from regulators across South-east Asia
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FORGET saving up to afford what your heart desires. A multitude of players now offer "buy now, pay later" (BNPL) options, from publicly-listed Grab to online travel agent Traveloka to specialised players Atome and Pace.
And with BNPL now entrenched in most online retail platforms allowing consumers to split their purchases into 3 interest-free instalments, BNPL has become the flavour of the year for anyone wanting to jump on the embedded finance bandwagon on their path to profitability.
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