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
Timely, relevant coverage of court proceedings and agency rulings involving tariffs, classification, valuation, origin and antidumping and countervailing duties. Each day, Trade Law Daily subscribers receive a daily headline email, in-depth PDF edition and access to all relevant documents via our trade law source document library and website.
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.