Visa Plans BNPL Option for Small Businesses as Digital Payments Gain Steam
Visa is working with working capital platform Fundbox on digital payments and will introduce a buy now, pay later (BNPL) option for small businesses, plus other flexible payment products, it said Tuesday. “Small businesses that embrace digital tools tend to…
Sign up for a free preview to unlock the rest of this article
If your job depends on informed compliance, you need International Trade Today. Delivered every business day and available any time online, only International Trade Today helps you stay current on the increasingly complex international trade regulatory environment.
be more resilient and better able to compete,” said Visa Chief Product Officer Jack Forestell. A Visa survey said 73% of small businesses see accepting new forms of payments as fundamental to their business growth; 59% said they already are, or plan to, use only digital payments within the next two years. EMarketer predicts (see 2202250039) BNPL users will grow 31.4% this holiday season vs. 2021, adding 14.2 million U.S. users. A Bizrate Insights report said 9% of in-store shoppers used BNPL in February, up from 6% a year ago.