The BNPL against the glass ceiling: the structural advantage remains with the banks

After a year of intensive monitoring of the "Pay Later" market in the United States, the reality of the figures tempers the narrative of total disruption. While the Buy Now, Pay Later (BNPL) has managed to move into use, it now encounters the striking power of historical transmitters. By relying on their pre-existing customer relationships and the native integration of payment facilities into credit cards, banks maintain a two-to-one advance on the sector's fintechs.