'Buy now pay later' will continue to grow

In 2022, according to LinkedIn news, the 'Buy Now, Pay Later' sector (the ability to pay for goods and services in installments, abbreviated BNPL) will become even more popular among consumers.

This method has given new purchasing power to millions of people with limited access to credit, since it is generally subject to fewer controls and does not require interest payments (as long as you are punctual), and the service can be used even if you do not meet the requirements for a credit card.

This is why we chose to rely on Soisy: a Payment Institution authorized and supervised by the Bank of Italy, with the aim of financing payments to private investors and clients in the form of installment payments of 3 to 12 installments.

With the temporary closure of many physical stores, the pandemic has led to a surge in online shopping and the use of Bnpl, placing startups in this segment among the leading players in acquisitions and investment rounds.

PayPal acquired Paidy, Goldman Sachs bought GreenSky, Square acquired AfterPay, and recently, Italian company Scalapay—ranked seventh in LinkedIn's 2021 Top Startups ranking—closed an investment round of over €173 million, reaching a valuation of around €600 million.

And this growth appears to be just the beginning of a trend: Kaleido Intelligence estimates that within the next 5 years, the market for these services will "grow by 93% and reach 353 billion euros globally."

Our company, too, faced with an increasingly significant paradigm shift, has decided to embrace deferred payment options. We're responding promptly to customer needs, who are now ready to make purchases over €500 online and feel empowered by the fact that with us, they'll never pay additional interest on deferred payments. This is a necessary response to boost their trust in us.

What can we expect in the near future? Matteo Risi, senior researcher at PoliMi's Digital Innovation Observatory, explains that we'll increasingly see Bnpl companies expanding their reach into other sectors, such as marketing and banking.

More and more stores will adopt this practice in order to allow their customers to purchase larger amounts.