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Block demonstrates an alternative path forward to determining financial health but needs to expand beyond micro loans.

Payment providers are investing in AI to help streamline and personalize both the merchant and customer experiences

For example, despite their growth, buy now, pay later (BNPL) services are used by only about 4% of US social commerce buyers, per our March 2024 survey. But they’re used by 11% of US digital buyers overall, per our April 2024 survey conducted by Bizrate Insights.

How we got here: Apple Pay started partnering with BNPL players like Affirm shortly before shutting down its in-house Apple Pay Later offering. At the time, Apple said it planned to offer card-linked installments from Synchrony, Citi, and Fiserv. Apple Pay has since added Klarna as a BNPL option as well.

Checkout solutions should support a range of payment options such as digital wallets, mobile payments, and buy now, pay later (BNPL). They can also automatically apply coupons, discounts, and loyalty program membership information. The checkout space is becoming a nexus that helps store retailers connect the dots to their online operations.

Emirati paytech Tabby secured $58M in a sign of investor confidence in the region’s BNPL market potential.

For example, buy now, pay later websites and apps attract high-intent consumers actively seeking deals—an audience profile well suited to promotional advertising. But they only capture a small slice of consumer purchase behavior and are typically focused on discretionary ecommerce transactions.