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Banking on a tech-first approach, Fintechs have gone on to achieve immense success with
BNPL. The fintech BNPL model has mastered the checkout experience and made payments
frictionless. By working directly with merchants, BNPL providers have been able to embed their
payment experience directly within the merchants ecosystem.
On the other end of the spectrum, the Bank BNPL model is more customer centric than
merchant centric. Current models are largely credit-card based and pay later options are offered
only post-purchase. Hence, banks are losing ground to BNPL Fintechs that are better at
capturing the customer relationship at checkout.
Despite this, traditional FIs with established customer bases are better placed to capitalize on
the opportunity offered by BNPL. They possess the customer data necessary to design truly
personalized credit offerings that customers can use across their credit relations with the bank.
By partnering with the right tech providers, FIs can leapfrog the established Fintech BNPL
lenders to bring seamless, contextual and ubiquitous BNPL experiences to their customers .
Backed by decades of experience and a solid foundation of trust, FIs can capitalize on this
opportunity to give customers what they really want.
Zeta thought leader Bhavin Turakhia
Mercator Advisor Brian Riley
External Speaker EVP/SVP level from MC/Visa
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