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Identifying 'Buy Now, Pay Later' Consumer Trends And Behaviors For Meaningful Life Purchases

Buy Now Pay Later Openpay

To further understand consumer opinions and awareness surrounding Buy Now, Pay Later (BNPL), Opy, a leading payments, and lending fintech provider, along with The Pollack Group (TPG), released a nationwide consumer survey to seek the perspective of 1,000 Americans on BNPL as an alternative payment method for dental care and veterinarian costs.
 
TPG worked alongside SWNS Media Group to distribute a survey built to identify how COVID-19 changed the perception of BNPL for Americans, how familiar consumers are with BNPL, and how likely they would utilize BNPL for future dental and veterinarian fees. 
 
The results indicated that a vast majority of dental patients (69 percent) and pet owners (67 percent) worry about looming financial costs. Additionally, 71 percent surveyed stated they would choose BNPL over traditional payment methods for future dental expenses, with 86 percent opting for BNPL for future pet expenses. Of the 1,000 Americans surveyed, most responses indicated payment flexibility as the prime benefit of BNPL as a future payment option, with avoiding credit fees and high-interest rates as a close second. In conclusion, the survey overwhelmingly confirmed US consumers are aware of BNPL benefits and have or will consider the alternative payment method for future dental or veterinarian costs.
 
To further maximize the reach of the data, TPG incorporated the survey findings as part of a nationally distributed press release and an infographic. As a result, the survey and its findings has obtained 417 unique pieces of earned media coverage, totaling more than 294 million impressions for Opy.

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