BNPL Payment Data

20 Dec BNPL Payment Data

To help buy now, pay later lenders better manage the risk associated with each applicant, Equifax Inc. announced that it will begin including in consumer credit reports starting in January.

This comes on the heels of reports of elevated default rates for the vertical. In two recent large-sample surveys 25% and 37% of respondents admitted making at least one late payment. But for those with strong repayment records, Equifax’s move will mean higher credit scores and broader histories. A win-win for the majority of BNPL users. #bnpl #equifax #creditreports