Afterpay’s deal with EyeBuyDirect and Sezzle’s tie-up with WellNow Urgent Care reflect BNPL’s push to diversify beyond retail.

The acquisition could give Zip a path into long-term financing and a user base boost as competition mounts and regulation looms.

Increasing competition in the realm of point-of-sale installment plans will push existing buy now, pay later firms to diversify their offerings and target consumers beyond the existing core of Gen Z and millennial users.

The top 3 buy now, pay later platforms

Buy now, pay later solutions are quickly gaining adoption as consumers look for new financing options and merchants aim to drive sales. But the industry is still unsettled as a number of firms are battling to lead the space, while card networks and issuers are looking to get involved too.

Consumers are becoming more cognizant of their spending, some even considering financing high-ticket purchases in an effort to not spend all their money in one transaction.

The retail industry is transforming at both physical stores and in digital. This report examines 10 trends that will most shape retail in the year ahead.