BNPL: Brazil (Pagaleve) & Pakistan (Qist Bazaar)

Buy Now Pay Later, or BNPL is a short-term installment loan that lets consumers buy a product immediately and spread the cost over several payments, often with no interest if they pay on time. In developed markets, platforms like Klarna, Afterpay and Affirm are well-known BNPL plays, and act as a layer on top of mature credit rails, allowing consumers to shop more seamlessly online. In developed markets, with strong credit infrastructure and a highly banked population, BNPL is a tool of convenience. In emerging markets, with limited credit data and large unbanked or underbanked populations, BNPL can be seen as a tool of financial inclusion. In this episode, we spotlight two companies building robust BNPL companies at scale: Pagaleve in Brazil and Qist Bazaar in Pakistan.