Higher borrowing costs will test the resiliency of BNPL. Read more.
It might have struck some as an odd time to push forward with an offering built on a foundation of ultra-low interest rates.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails. Postmedia Network Inc. | 365 Bloor Street East, Toronto, Ontario, M4W 3L4 | 416-383-2300A welcome email is on its way. If you don't see it, please check your junk folder.
“We think we’re going to see consolidation,” said Alyssa Henry, who runs Square. “But I think we’re also going to see the rise of ecosystems like the ecosystem we have.”For much of the past decade, interest rates hovered at historically low levels. That helped spur the growth of the popular “pay-in-four” model, which allowed retailers to reach more customers by teaming with upstart financial companies that promised to underwrite the loans relatively cheaply.
“A lot of these BNPL providers just kind of popped up in the last couple of years when it was an attractive environment, but maybe they don’t have the business model to withstand some of the challenges that are currently present,” Taiano said.
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