Americans’ growing insecurity about finances is turning BNPL services into a popular option, but how wary are consumers about the fine print? Having tracked this behavior in our Money Sector Snapshot, Canvas8 spoke to nine Americans to understand their attitudes towards short-term borrowing.
Nicolas Lopez is a New York-based behavioural analyst at Canvas8. He holds a degree in political science from Columbia University. His research is driven by the relationship between the political, material, and cultural spheres. Outside of work, he can be found writing fiction and riding his bike with no hands.
What kinds of financial safeguards are people seeking across sectors? How can innovative tools help young people manage their money? What does empathetic support look like during a cost of living crisis? And how are fintech firms democratising access to financial know-how?
BNPL brands are taking steps to build all-in-one shopping apps to expand their reach among digital shoppers. From direct purchasing through to easy returns, new features could lure more shoppers seeking convenience and flexibility and help BNPL brands to shape the future of shopping.
As people try to stay on top of their finances in uncertain times, BNPL services have grown in popularity. The fact that more than 17 million British shoppers have used them for an online purchase highlights opportunities to support people with budgeting and planning ahead financially.
As countries across Europe begin to reopen their borders, trips abroad are back on the cards for British holidaymakers. With the pandemic leaving many financially worse off, Fly Now, Pay Later offers travellers an easy way to finance getaways without having to stretch their wallets upfront.