The BNPL market has seen rapid growth over the past few years.
A recent report from Mordor Intelligence valued the US BNPL market at $70 billion for payment value in 2022 and a projected growth rate of 27.5% until 2028.
However, the industry continues to be plagued with concern over its practices.
“During the time of the thriving Buy Now Pay Later explosion, there were some bad actors,” said Yaacov Martin, Co-Founder and CEO at Jifiti. “There were certain elements of certain products that, with time, started raising certain question marks, both with regard to the practice of late fees, how aggressive they were, and how hostile they were.”
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