BUY NOW , PAY LATER ( BNPL ) GROWS IN POPULARITY

With the rise in popularity of buy now pay later ( BNPL ), a new fintech vertical has been created . The BNPL industry is now worth more than $ 97bn USD and set to increase .

It is an excellent option for those who need something but don ' t have the money immediately available to them . If used correctly , it can be an extremely effective and convenient way to pay for things .

At the same time , it is important for fintech companies to clearly explain what consumers are getting into before offering them such a service . It makes it easier to accumulate debt and interest .

BNPL is a trend particularly expected to continue growing in underdeveloped countries with a lack of credit scoring and access to traditional lending .

As a result , it is a fantastic opportunity for people to make purchases where they may not otherwise have had such opportunities .

� MYNT The digital wallet and lending platform is feeling flush following a Series A funding round that raised them $ 300mn

� PLATE IQ The spend management and invoice automation fintech company has had a good year , raising $ 160m in a Series B round

� N26 The digital-only German bank halted its operations in the US , leaving 500,000 customers to find new bank accounts for the new year .

�BINANCE Site freezes during a crypto crash in May 2021 , leading to more than 2,000 legal claims against the exchange in the following months , and a lawsuit from White & Case , LLP .

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