Rising living costs as the golden opportunity for BNPL 😳; The hottest FinTech vertical is now cool? 🤯; The future of Real Estate: NFTs? 👀
FinTech is Eating the World, 20 October
Hey Everyone,
Happy Thursday! Today’s issue is super interesting as it focuses on 3 different yet super important developments happening in FinTech and Web3 space. We’re going to look at why the rising living costs is the golden opportunity for BNPL (& why you can’t ignore it + what are the risks), question whether the hottest FinTech vertical has now become cool (should make others cautions + a silver lining), and why the future of Real Estate could be all about NFTs (this one is super exciting & interesting development!). Let’s jump straight into the awesome stuff:
Rising living costs as the golden opportunity for BNPL 😳
Spotting the trends 👀 Last week I asked whether Eat Now, Pay Later illustrates the market top of BNPL. It seems that not only we haven’t reached the top (yet), also it’s part of a bigger trend that apparently could be a golden opportunity for all Buy Now, Pay Later firms.
More on this 👉 In addition to Klarna teaming up with Deliveroo to enable buying food in instalments, US companies like Till, Jetty, and Flex and Canada-based Zenbase let renters split payments into installments.
What’s even more interesting is that consumers have also expressed interest in even broader BNPL use cases:
Healthcare: 42% of US consumers said they’d use BNPL to pay for medicine and prescriptions, as per the PYMNTS report.
Education: 38% said they’d pay for education and certifications with BNPL, per PYMNTS.
Holiday shopping: another 40% of US consumers plan to pay for gifts using BNPL, according to a Bluedot survey. And almost half of Gen Z shoppers (48%) said they planned to use BNPL over the holidays.
What does this mean? 🤔 It’s getting more and more clear that BNPL products aimed at helping consumers pay for necessities are becoming increasingly popular due to the rising cost of living that’s eating consumers’ budgets.
Here’s why it could work (and you should watch it), the risks associated & the takeaway: