What went down: At an invitation-only dinner on day two of Money20/20, Dan Van Dyke, VP of financial services content at Insider Intelligence, talked about all things buy now, pay later (BNPL) with a group of executive attendees. More specifically, he posed the pertinent question: Where’s BNPL headed?
The environment: It’s no secret that players in the BNPL space and the wider fintech industry find themselves “in the eye of the perfect storm,” as Van Dyke put it. BNPL providers are contending with factors that include:
Despite these conditions, new market entrants continue to swarm in to grab a slice of the BNPL pie, which is expected to reach $76.20 billion in US payments volume by the end of this year, per Insider Intelligence forecasts.
Insider Intelligence’s take: BNPL will survive—but not in its current form. Van Dyke highlighted five ways in which the industry is changing:
Related content: Check out our US Buy Now, Pay Later Forecast 2022 report to learn about factors influencing BNPL growth.
How beautiful ☑️