Further, customers have less of an incentive to spend with credit cards. Rewards do still give customers some impetus to spend on credit, since their importance as a savings tool has magnified this year.

BlockFi CEO Zac Prince explained to Insider Intelligence that its Bitcoin rewards credit card gives providers access to a large, untapped base of crypto-curious consumers. These cards leverage the credit card industry’s very successful playbook of layering rewards, hoping to turn the crypto-curious into crypto converts.

Zip’s preholiday shopping event clocked stellar numbers, but diversification and increased credit card use might challenge BNPL growth.