Buy Now, Pay Later data and marketing

In the UK last year, use of BNPL at online checkouts nearly quadrupled. But where cash flows, identity fraud usually follows. 

With the popularity of BNPL growing and consumers enthusiastic about the experience its important to ensure you know exactly who you’re doing business with.

For BNPL Providers - use our knowledge of an individual’s credit behaviour to assess risk and set affordable spending limits. Share your data with us to access richer, and more detailed information on an individual’s credit commitments and spending to better inform your credit decisions.

For lenders - improve your understanding of an individual’s credit worthiness based on a better understanding of the BNPL spending behaviour and utilisation of other lines of credit.

The role of BNPL payment services is coming under increasing scrutiny as attention is drawn to the impact these services have on an individual’s credit worthiness. 

Data sharing with credit bureaux can help the industry and provides opportunities to minimise risk to consumers, without adversely affecting the payment experience, so how should BNPL providers engage with bureaux?

Automate access to our Affordability IQ bureau metrics and Open Banking resources to accurately inform what a customer can afford to spend. Include BNPL spending behaviour to improve your understanding of an individual’s disposable income.

In 2020 use of BNPL credit almost quadrupled in the UK. This leaves one question. If the rocket is taking off so fast, how can providers ensure consumers don’t get hurt in the process?

The use of BNPL services has until recently, been invisible to lenders. Experian’s BNPL or Deferred Credit data brings this information to market.

Lenders can make more informed decisions from having a more complete view of an individual’s credit commitments to understand what they can truly afford, whilst consumers can manage their finances responsibly, and support and protect their future financial health.

Working in partnership with BNPL providers, payment data is being shared reciprocally with Experian and other lenders who contribute to the bureau. This provides rich insight into the spending and repayment behaviour of consumers and demonstrates how people are using these to manage their personal finances.

Validate, cleanse and enrich your customer data to harness greater insight for your business, improve how you manage your customers and optimise their experience.

Resolve identities with our data management solution that checks, validates and appends information across devices and digital footprints using a unique matching process to create a single, data-rich profile for a person or business. It resolves customer data duplications and inconsistencies using both data management techniques and trusted reference data in tandem.

Automate the deployment of your data so you can respond quickly to changes in an individual’s spending behaviour, personalise your engagement, avoid additional risk and keep your customers safe.