The bigger picture: Regulators in the UK and Australia have also sharpened their focus on BNPL providers in light of data suggesting the risks involved with their offerings. Their moves could foreshadow what BNPL regulation might look like in the US.
PayPal CEO Dan Schulman said there were more than 750,000 BNPL transactions on Black Friday, a nearly 400% increase over 2020, while Afterpay reported a 34% increase in orders on Black Friday and Cyber Monday with in-store transactions up 442% YoY. What’s ahead for the BNPL space?