Buy now, pay later (BNPL) options are increasingly popular among American consumers, and a J.D. Power study has brought unexpected results. Traditional financial institutions, rather than specialty BNPL firms, lead in customer satisfaction. American Express's Plan It feature ranked highest with a score of 695 out of 1,000, while My Chase Plan and Citi Flex Pay followed closely. Surprisingly, well-known BNPL brands like Klarna, Sezzle, Afterpay, and Affirm scored below the study average, with Affirm at the bottom. Apple Pay Later, a new entrant, scored modestly, suggesting that established financial players could pose serious competition to specialized BNPL services. The study's criteria included customer support quality, acceptance, perks, terms reasonableness, digital management convenience, and account security. The results underscore the importance of customer satisfaction in the BNPL sector, beyond innovation and market buzz.
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