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Some buy now, pay later lenders are holding back customer payment data from credit bureaus

On HALO

4 hours ago

Credit bureaus were supposed to start incorporating buy now, pay later (BNPL) data into credit scores given how the payment method has surged in popularity, but several of the firms issuing these short-term loans are refusing to share their data for now. Major players in the BNPL space, including Klarna and Afterpay, are calling for strong consumer protections to ensure users aren’t unfairly penalized if payment data is shared with credit bureaus.Questions about how this process would work intensified after FICO announced in late June that its new FICO Score 10 BNPL and FICO Score 10 T BNPL mo...

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4 hours ago
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