Equifax and Qlarifi Team Up to Analyze Buy Now, Pay Later Effects on Credit Risk

Equifax and Qlarifi Unite for Groundbreaking Study on BNPL Impact

Equifax and Qlarifi have embarked on a collaborative effort to delve into the implications of Buy Now, Pay Later (BNPL) services on credit risk and fraud prevention. This significant partnership, announced on July 28, 2025, aims to shed light on how BNPL reporting affects credit assessments within the financial landscape.

Rising Popularity of BNPL

Recent studies indicate that over 50% of U.S. consumers are currently utilizing BNPL services, with an impressive 35% planning to increase their usage in the upcoming year. As these services gain traction, both Equifax and Qlarifi acknowledge the urgent need for a comprehensive study that thoroughly examines real-time BNPL data. The forthcoming research aims to be the first of its kind in the U.S., leveraging real-time information from multiple BNPL service providers.

Understanding the BNPL Landscape

Qlarifi specializes in providing a unique platform designed specifically for short-term credit. Its infrastructure enables lenders to seamlessly furnish up-to-the-minute data regarding BNPL usage among consumers across different providers. This real-time framework not only enhances transparency in consumer borrowing but also aids in the detection of loan stacking, a rising concern in the industry.

Jake Osborne, Senior Vice President and General Manager of Fintech and Payments at Equifax, expressed that collaborating with Qlarifi will allow the industry to identify risks tied to loan stacking, quantify the predictive capabilities of BNPL data, and ultimately enhance consumer benefits.