The Future of Buy Now Pay Later (BNPL) is in the Palm of Our Hands

Buy Now Pay Later (BNPL) is rapidly becoming the preferred way for millions of customers to shop. In fact, more than 111 million consumers across the U.S. would be interested in using BNPL to purchase high-value services (Source: PYMNTS). Given the ability to space out payments enables many to better manage their expenses – especially those living paycheck to paycheck – while not having to rely on credit cards and interest rates on expensive purchases.

The BNPL trend isn’t going anywhere and in the last year, 29 million U.S. customers used it to make purchases (PYMNTS). Business owners who recognize the value are jumping on-board by offering this modern shopping solution and expanding their customer base.

The redefinition of shopping with BNPL has just begun. One example of BNPL taking a step towards the future is the latest offering by Opy with its ‘Buy now, Pay smarter’ solution that adheres to the trend of allowing savvy shoppers to spread their payments out over time. Through technology delivered by their partner, Opy will be a form of payment through a pay by text functionality.

More and more consumers want to pay their bills via text. It’s the contactless revolution brought on by the pandemic paired with natural technological advancements. It’s safe, it’s fast, and it’s in the palm of our hands. Consumers enjoy the benefits of BNPL and are able to spread out their purchase over time while paying swiftly by text.

Opy’s ‘Buy now, Pay smarter’ product enables both business owners and customers to have more control over their financial decisions and how they want to pay. When it comes to big budget purchases, these are critical options that can be the deciding factor between buying or not.

BNPL has come to the front of the line in retail. The way we shop continues to change and vigilant merchants are there to cater to their customers while giving them the latest way to pay.