Earlier this year, PYMNTS Intelligence detailed that pay-later options were drawing widespread use among consumers versus payments via traditional credit cards.The data showed that coming into the end of 2024, 56% of consumers used installment payment options in the last year. Within the various pay-later offerings, buy now, pay later (BNPL) was a standout, as 76% of BNPL users said they were highly satisfied with the experience of using BNPL to make everyday purchases and large-ticket transactions.About 38% of consumers used BNPL, roughly at parity with those who used general-purpose credit card installment plans and above the 24% that used BNPL in the previous year. In the meantime, the use of credit card installments was static over that timeframe.The implication, then, is that BNPL is gaining share within the pay-later sphere. Separate data showed that BNPL services appeal to those looking for immediate access to credit without long-term commitments, a factor cited by 27% of individuals.The Consumer Financial Protection Bureau announced its own findings on BNPL last month.“Before first-time BNPL use, consumers’ average credit card utilization rates increased, suggesting that less available credit card liquidity may encourage consumers to use BNPL,” according to a Jan. 13 press release.Liquidity is constrained, as PYMNTS found that 19% of overall consumers hit their credit card limits in the past year — a percentage that soared to 41% of consumers who live paycheck to paycheck with issues paying bills. The constraints are even across income levels, as 20% of those earning more than $100,000 annually and nearly 21% of households earning less than $50,000 annually have been maxing out their cards.The marquee names in BNPL are gaining the lion’s share of BNPL transactions, as about one-third of consumers who opt to use the payment method go to Afterpay, PayPal, Affirm and Klarna.The use of BNPL will see additional momentum, in part because of traditional financial institutions — firms that traditionally would have looked askance at BNPL, as it offered an avenue through which customers would bypass using issuers’ cards.J.P

FICO and TransUnion Kenya partnered to broaden access to credit in Kenya. “By leveraging enriched data and analytics, lenders can now make more informed decisions, which foster greater economic empowerment and build a more resilient financial ecosystem,” the companies said in a news release Tuesday (Feb. 18). The partnership brings together two tools — TransUnion’s CreditVision Variables solution and the FICO Score — that address challenges in risk assessment and financial inclusion, according to the release

Earnings reports held the key to the CE 100 Index’s momentum this past week — and among the takeaways: Buy now, pay later (BNPL) continues to see a groundswell of popularity with consumers. Most of the pillars that we track were higher, save the Work segment, which gave up 0.7%. Though company-specific headlines were scarce, the jobs report that came in on Friday noted that hiring has been slowing, at least as measured by January’s 143,000 additions.The Shop segment roared ahead by 4.8%. Pinterest’s rally was the standout here, surging 20.9%