NEW YORK—Buy now, pay later (BNPL) solutions continue to expand, becoming available at more stores and gas pumps, according to a new report.
As CUToday.info has regularly reported, BNPL has become increasingly popular in recent years, with Fox Business saying the payment solution—which allows consumers to essentially make installment payments on even small purchases before fees kick in—is expected to reach $680 billion in transaction volume across the world by 2025.
As an example, BNPL provider Klarna has announced a multi-year partnership with Brookfield Properties, a global real estate developer and operator, to bring its payments to Brookfield’s portfolio of more than 150 shopping centers in the U.S.
BNPL provider Zip, meanwhile, has a partnership with Chevron, allowing drivers to pay for their gas in four installments over a six-week span. Zip also said its services are available through its app anywhere Visa is accepted, Fox Business stated.
Klarna also has been in partnership with Chevron since 2021. The company said it has protections in place to ensure its customers are not overspending or missing payments as its services expand.
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