You've Heard Of BNPL - What About SNBL?
How SNBL delivers instalments without credit and a Q&A with South Africa's LayUp
This post includes a Q&A feature with the South African fintech LayUp.
Buy Now Pay Later (BNPL) has been one of the success stories in payments over the past decade. Many providers offer BNPL solutions, but Klarna has been the breakout success - it's the best-known BNPL brand in the USA and Western Europe. Klarna's brand is such that when consumers see the logo at an online checkout, they know they can pay in instalments, usually three equal payments over a set period - with the option to pay more quickly if desired.
Alongside its success, BNPL isn’t without controversy. Klarna’s UK website makes clear that their products are “unregulated credit”, and there’s an ongoing discussion on the future regulation of BNPL, not just in the UK but around the world. BNPL can enable consumers without a formal credit score to borrow over the short term. Essentially, rather than getting a credit card with a set limit of £1,000+ agreed upfront,…