Walmart to Enter Crowded Buy Now, Pay Later Space
Will short-term loans become a new profit center for the retail giant?
Buy Now, Pay Later is everywhere — online, at point of sale, anywhere consumers are spending more than $100 it seems, there’s an option to pay in four installments. Companies like Klarna, Afterpay, Affirm, Sezzle, and more are the key players in this space.
Now, Walmart is getting in on the act. Retail Bum reports that Walmart will launch a BNPL product in 2023.
The move comes as the store — one of America’s largest grocers — seeks to capture some of the revenue currently going to other BNPL providers used by Walmart customers.
In fact, reports indicate that more and more consumers are using BNPL to handle the rising cost of groceries.
While the BNPL products can be a convenient and affordable way to handle a single short-term expense, when consumers end up with multiple BNPL loans, they could…
