App Users More Prone To Purchase Now, Spend Later

I happened to be additionally interested to comprehend as to what extent users among these apps utilize other products that are financial complements; for instance, “buy now, pay later” products.

While by no specific BNPL providing is principal, 48% of participants reported making use of among the named BNPL services for the purchase in past times month (a lot higher as compared to basic populace).

Users of a banking app or of money App had been almost certainly going to purchased a BNPL product vs. Venmo users, likely driven by demographic differences of Venmo users (generally skew higher income/higher credit history).

Finally, for the placement of customer fintech as providing better / cheaper / more that is‘transparent to customers, I happened to be wondering as to the extent users among these apps still relied on legacy “alternative financial services” — as well as the reaction ended up being surprisingly high. Continue reading