Financial institutions (FIs) are repositioning themselves in the Buy Now, Pay Later (BNPL) market by integrating at-the-point-of-sale installment options, offering a competitive edge over traditional post-purchase installment plans. Splitit's CEO, Nandan Sheth, highlights the shift towards offering BNPL services during the purchase process, enhancing consumer affordability and decision-making. Splitit introduces FI-PayLater, enabling FIs to provide BNPL options directly at checkout, simplifying transactions and improving economic outcomes for FIs. This approach not only closes the gap between FIs and FinTechs but also enhances consumer experiences by streamlining purchases and offering flexible payment terms, potentially reshaping the BNPL landscape.
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