Banks outsource buy-now, pay-later to new class of fintech firms
Tuesday, October 5, 2021More banks are taking the "if you can't beat them, join them" approach to buy now, pay later.
Banks of all sizes are turning to a new cottage industry of financial technology software providers who build BNPL platforms for bank clients. The effort gives banks a shot to take market share in the space from the fintech giants like Square Inc. and PayPal Holdings Inc. that are spending billions of dollars in M&A to acquire BNPL lenders.