Buy now, pay later (BNPL) solutions are reimagining lending and revolutionising the buying experience for consumers.
Optimising the use of BNPL payment data with other information allows you to treat every customer as an individual; personalising their experience based on an accurate understanding of who they are and what they can afford.
Let us give you the insight you need to make better, informed decisions to grow your business without increasing risk to you or your customers.
Use of BNPL services by consumers has, until now been invisible to lenders.
Experian has now bridged this gap by making BNPL payment information available to all lenders so that you can make better decisions based on a more complete view of your customers credit risk and affordability
Verifying a customer’s identity and their ability to pay is essential to reduce risk and protect your business. Our fraud and credit risk insight helps you verify a customer’s identity immediately so you can acquire safely.
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.
Watch our latest video covering BNPL ID Verification & Fraud prevention, with our topic experts Tom Gadsden, Traci Krepper & Rob Haslingden.
Confirming what an individual can truly afford is essential to protecting consumers and your business. Access to more data gives you the insight you need to properly understand customer’s capacity to afford credit.
BNPL payment information gives you additional insight on the impact of a individuals’ shopping behaviour on their disposable income.
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?
Watch our latest video covering BNPL data sharing to help lenders grow and protect consumers, with our topic experts Jonathan Westley, Clint Hook & Rob Haslingden.
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.
Watch our latest video on acquiring BNPL customers confidently with better data, with our topic experts Rebecca Galvin, Andrea Cox & Rob Haslingden.
Collecting accurate information on your customers and maintaining this is important to help inform your engagement and manage customers responsibly. It’s also an essential first step in sharing your data with credit bureaux.
We can help you manage your data, inform your understanding of risk so you can personalise your decision making and engagement with customers.
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.
How credit behaviour insight will help your business better understand consumer risk and affordability.
Watch our latest video covering BNPL data sharing to help lenders grow and protect consumers.
Watch our latest video on acquiring BNPL customers confidently with better data.