Buy Now Pay Later Payments
The Buy Now Pay Later payment sector is expanding rapidly and Canada has taken a leadership position by providing access to credit to consumers and small businesses with flexible monthly interest-free payment schedules. With nationwide adoption of BNPL increasing by 30% in the last year alone, there is reason to expect that the industry will reach $50B in annual revenue.
Many articles have been published on the topic to explain the new payment opportunity to consumers, businesses and retailers. Some of these articles provide inaccurate information about BNPL. This document debunks any inaccuracies with clear explanations that we hope will be helpful to individuals and companies in the process of selecting BNPL as a channel.
The CLA’s Myth Debunking Resource is a dynamic document that changes every month. It responds to new media stories keeps its readers up to date on developments within the sector.
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