Buy Now, Pay Later: Risks Lurking Among the Opportunities

Report Summary

Buy Now, Pay Later: Risks Lurking Among the Opportunities

As buy now, pay later programs have grown, providers must become vigilant and elevate their financial crime and regulatory control frameworks.


Jim Mortensen
Strategic Advisor
Chuck Subrt
Director, Fraud & AML Practice
Gabrielle Inhofe

February 16, 2023 – BNPL programs are still relatively small in terms of their share of total purchase volume, but they have grown dramatically over the last three years. Although this growth is impressive, it is also a little frightening from a financial crimes and regulatory risk perspective. This warrants increased attention by risk and compliance leaders.

This report provides an overview of the BNPL market and its participants, and explores the different fraud threat vectors as well as AML and regulatory challenges affecting BNPL programs. It is supported by desk research of publicly available information and reports along with interviews with fraud prevention experts from leading organizations.

Clients of Aite-Novarica Group’s Fraud & AML service can download this report and the corresponding charts.

This report mentions Affirm, Afterpay, Barclays, Chase, HSBC, Klarna, and NatWest.

How can we help?

If you have a question specific to your industry, speak with an expert.  Call us today to learn about the benefits of becoming a client.

Talk to an Expert

Receive email updates relevant to you.  Subscribe to entire practices or to selected topics within

Get Email Updates