American Express to offer BNPL options
News
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Dec 2021
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WWD
What: Openpay inked an agreement with American Express to offer instalment payment options to participating health care and auto repair/maintenance merchants. The retailers will use Opy’s 2.0 version of buy now, pay later (BNPL) called “buy now, pay smarter (BNPS).”
Why it is important: While the BNPL payment method is currently challenged and criticized, the BNPS solution is supposed to differentiate from traditional pay-in-four BNPL plans thanks to fair, transparent and fixed fees.
BNPS method extends up to USD 20,000 with plan lengths of up to 24 months.
