[20211101]IN11784_快速增长的“现在买以后付”（BNPL）融资：市场发展和政策问题.pdf

CRS INSIGHT Prepared for Members and Committees of Congress INSIGHTINSIGHTi i Rapidly Growing “Buy Now, Pay Later” (BNPL) Financing: Market Developments and Policy Issues Updated November 1, 2021 “Buy now, pay later” (BNPL) is a form of point-of-sales financing. With BNPL financing, a consumer can purchase an item now and pay for it later on an agreed upon payment schedule. BNPL financing is often offered online and has generally been developed by technology-focused, nonbank financial companies, often characterized as “fintech” companies. BNPL financing has been growing rapidly in recent years. Reports suggest that BNPL financing may have tripled in 2020 compared to the prior year. A consulting firm estimates that BNPL balances grew by 24% from 2016 to 2019 and are expected to grow around 20% annually for the next three years. This Insight discusses the BNPL financing market and potential policy issues in this market. The House Financial Services committee is holding a hearing on this and other related topics on November 2, 2021. “Buy Now, Pay Later” (BNPL) Financing Market BNPL financing allows consumers to pay for purchases in payments over time, generally without accruing intere