Back to the Future: 8 Features of Fast + Future-Proof BNPL Technology
The premise of the Back to the Future movie is simple: Marty, a high school teenager in the 80s, finds out that something that happened in the past will have a huge impact on the present if he doesn’t fix it. He travels back in time to the 50s via a DeLorean car. Solves the problem despite the attempts of Biff to ruin it. They all live happily ever after, at least until they need a plot for the second movie. Why is this relevant to the world of Buy Now, Pay Later (BNPL)? Because it’s an easy way to make the point that the decisions we make now will impact our success in the future. And while Marty had the ability to hop back in time at his leisure to solve his problems, the rest of us don’t have the luxury of a time-travelling DeLorean car at our fingertips. At least not yet.
choosing the right technology to take advantage of an $8 trillion opportunity. You can take the path of Biff the antagonist and push for hard-coded, less agile options. Or, you can be Marty the hero, and implement a fast and future-proof risk ecosystem that supports success—despite whatever plot twists are thrown your way. The decisions you make now will have a direct and tangible impact on the future adaptability, growth and longevity of your BNPL products. So, how do you know which technology can help you prepare for the future of BNPL? Quick note: While BNPL can fall both inside and outside of what is considered a traditional ‘credit’ product, for ease of understanding we will be using the term to describe it throughout this eBook.
Think of it this way, if BNPL was a movie, the plot would hinge on
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