During the Covid-19 lockdowns, consumers have adopted Buy Now Pay Later payments, purchasing shoes and smartphones online in installments, directly with their cards. With sales reaching €6 billion by the end of 2021 in France (up 38.1% over 2020), BNPL is now a popular feature of e-commerce. But it is also invading bricks and mortar stores, with the initiatives by Cofidis and its partner Monetico. Arnaud Le Gall, Director of Partnerships at Cofidis, explains their approach.
Actionable in a few seconds, reassuring in a gloomy economic context, fractional payments, which are not governed by the Lagarde law on consumer credit because of their small amounts, are very popular. Why?
A.L.G.: The Buy Now Pay Later (BNPL) has been on offer for many years. Cofidis was the first consumer credit specialist in France to launch a 3-installment payment by bank card in 2007. However, with Covid-19 restrictions, the use of BNPL has truly become a structural tr
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