Equifax partners with Qlarifi to assess BNPL’s impact on credit risk

By Vriti Gothi

Equifax has partnered with Qlarifi, to initiate a study examining the impact of real-time BNPL reporting on credit risk assessment and fraud prevention.

As BNPL continues to reshape the consumer credit landscape with more than 50% of U.S. consumers now utilising these services and 35% planning to increase their use in 2025, Equifax and Qlarifi are advancing an industry-first initiative to measure how dynamic BNPL data can enhance financial decisioning. This joint study represents the first U.S.-based group research effort to leverage real-time data from multiple BNPL providers, setting a new benchmark in how lenders assess consumer behaviour and manage emerging risks.

The Qlarifi platform is engineered specifically for the nuances of short-term credit, offering lenders a secure, real-time infrastructure to report and monitor BNPL activity across the ecosystem. By enabling second-by-second data sharing, Qlarifi empowers financial institutions to detect loan stacking as it happens and access detailed insights unique to the BNPL segment.

As traditional credit data continues to serve as a foundational indicator of financial history, lenders are increasingly seeking deeper, real-time insights to keep pace with shifting consumer behaviours. This study aims to evaluate how BNPL data can contribute to a fuller understanding of financial stress indicators, improve fraud detection capabilities, and create new opportunities for credit inclusion particularly for consumers with limited credit footprints.

Alex Naughton, CEO of Qlarifi, said, “BNPL providers and traditional lenders have been flying blind for too long. This joint study, providing real-time data across multiple providers, will be a crucial first step in understanding how organisations can better serve the evolving needs of both the lending community and consumers by offering a more complete and transparent view of how BNPL behaviour can inform credit decisioning.”

Jake Osborne, Senior Vice President and General Manager of Fintech and Payments at Equifax, said, “Conducting a group study with an innovative partner like Qlarifi and multiple BNPL providers will ultimately allow the industry to identify the potential to minimise loan stacking risks and trends, quantify the predictive power of BNPL data, and maximise the benefits to consumers.”

Through this strategic collaboration, Equifax and Qlarifi are paving the way for more responsive, data-driven credit systems—supporting fairer, safer, and more informed lending across the financial services sector.

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