Is Buy Now Pay Later safe and secure? 5 questions answered

Is Buy Now Pay Later safe and secure? 5 questions answered
Is Buy Now Pay Later safe and secure? 5 questions answered
Monday, 22 February 2021
You’re not alone. 
In fact, according to ASIC's 2020 Buy Now Pay Later: An Industry Update report from the 2017-18 financial year to the 2018-19 financial year, the number of active BNPL accounts across six providers grew by 38% (from 2.7 million to 3.7 million). 
There was also a large increase in BNPL transactions, too. From June 2018 to June 2019, the number of purchases increased from 1.9 million to 3.4 million (an increase of 75%). 
“It’s not surprising that Buy Now Pay Later platforms continue to see an uptick in the amount of customers signing up and making purchases,” Mozo director, Kirsty Lamont says. 

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