3 LatAm-based BNPL to keep an eye out for in 2024
By Delisha Fernandes
The Buy Now, Pay Later (BNPL) model stands as a revolutionary financial solution, transforming consumer behavior in contrast to traditional credit cards. Unlike conventional methods, BNPL providers enable customers to make purchases without immediate payment.
In Latin American countries, renowned for their burgeoning economies, a distinct financial landscape emerges, marked by limited access to conventional financial services, consumer goods, and a significant portion of the population being unbanked or underbanked.
In addressing this disparity, the idea of installment-based purchasing holds immense appeal. It provides customers with the means to acquire products and services that would otherwise be financially inaccessible. The BNPL model emerges as a frontrunner in this financial transformation, presenting a promising avenue towards economic empowerment
Here are 3 LatAm-based BNPL to keep an eye out for in 2024:
Aplazo is a Buy Now, Pay Later company and modern payment network that offers payment solutions and tools to help merchants sell more and grow their brands. The BNPL company aims to give customers the freedom to finance their purchases and defer their payments in convenient installments, without the need for a credit card.
Atrato is a Buy Now, Pay Later company for omnichannel merchants in Mexico. The FinTech company allows affiliated merchants to offer a safe, accessible, and reliable buy now, pay later method to their customers. Customers can use Atrato to make purchases at affiliated stores, either online or in person, and pay them off over the course of up to 24 months without using a credit or debit card.
Ualá is a FinTech that offers its users an innovative and integrated experience. Through a mobile app linked to an international Mastercard card, users can carry out a wide variety of financial transactions. This includes transferring money, paying bills, loading credit on prepaid cell phones and transportation cards, and much more. It has recently acquired Ceibo Credits, a BNPL FinTech company that partners with merchants to offer a line of credit to their customers.