UK-based fraud prevention services provider Callsign has released a Buy Now, Pay Later (BNPL) survey, which polled more than 2000 US adults on their experience with BNPL services.
According to the results of the study, nearly a third (31%) of those who experienced fraud now worry about paying for things online, but more strikingly, 23% no longer use any BNPL services and 18% no longer use the corresponding retail website.
Key findings include:
23% no longer use any BNPL services and 18% no longer use the retail website where they purchased the goods.
31% of those who experienced fraud now worry about paying for things online.
76% of those who use BNPL services believe their BNPL provider will protect their personal data
However, of those who use BNPL, one in seven have experienced fraud
45% of those who use multiple BNPL services use the same email and password for all their accounts.
55% of those surveyed believe that BNPL providers should be most responsible for protecting their customers against from fraud
But despite the prevalence of fraud, more than three-quarters (76%) of consumers who use these services trust BNPL providers to protect their personal data and protect them from fraud (75%). On the other hand, of the general population that has not used BNPL, those figures drop to 53% and 51% respectively.
To learn more about Callsign, check out the company profile in The Paypers' Company Database.
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