Yeah me too. I read an article which discusses how the bnpl...

Yeah me too. I read an article which discusses how the bnpl providers are trialing new models. Both Affirm and Afterpay recently closed their rewards programs. Apparently Afterpay have been putting out heaps of surveys to their members to see what they are looking for, which funnily enough has also irritated some members haha.

I guess they know they need to make an effort to differentiate to keep users loyal and engaged as there's not much of an economic moat around the general bnpl providers (Paypal, Affirm, Klarna etc). I predict they'll all launch subscription models if not already, like Sezzle already did, and this will all tie up with new rewards programs too.

It's easy to justify a monthly subscription if you believe the rewards gained will outweigh the cost. More usage = more loyalty = more rewards =+ more credit etc etc

I would argue that Sezzle is already different in that it specifically targets the younger generation and offers the chance to build up credit. I'm pretty sure Sezzle will be working on additional loyalty programs and features too.

Have a read of this from a couple of days ago:

https://www.pymnts.com/buy-now-pay-later/2024/affirm-afterpay-cut-rewards-programs-bnpl-firms-try-new-loyalty-models/