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Finance

From Hong Kong to Philippines, 'buy now, pay later' a tough sell

Much-hyped consumer financing method lags behind mobile wallets in Asia

Buy now, pay later payment platforms are proving a harder sell with consumers in Asian compared with other markets, despite early investor excitement over the latest financial technology trend.

SINGAPORE -- 'Buy now, pay later' (BNPL) payment platforms are proving a harder sell with consumers in Asia compared with other markets despite early investor excitement over the latest financial technology trend.

Adoption of BNPL, which offers short-term, usually interest-free credit to shoppers, has notably lagged other payment methods like mobile and digital wallets in the Asia-Pacific region, according to a study published this week by FIS, a U.S.-based financial technology software provider.

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