Credit cards are in a great position to get into this market since they can use your existing line of credit and don't require a new credit check in order to give you a loan. The Apple credit card is a great example, where now you can buy any apple products on a monthly payment plan with no interest and without any extra friction at check-out.
But I don't think most banks issuing credit cards are in this business yet. And of course making normal purchases on credit cards is a terrible way to "buy now pay later" because the interest rates are so ridiculously high.
It will be interesting to see if more banks get into this market seeing how successful Klarna, Affirm, etc. seem to be, because it does eat into their existing high interest rate profits on credit cards.
But I don't think most banks issuing credit cards are in this business yet. And of course making normal purchases on credit cards is a terrible way to "buy now pay later" because the interest rates are so ridiculously high.
It will be interesting to see if more banks get into this market seeing how successful Klarna, Affirm, etc. seem to be, because it does eat into their existing high interest rate profits on credit cards.