Alykhan Sunderji discusses Buy Now Pay Later with Finance Magnates
In a recent edition of Finance Magnates, Alykhan Sunderji gave his insights on the Buy Now Pay Later space, specifically whether Apple’s entry would hurt existing market participants. Alykhan previously led the legal team for Amazon Pay, and Sunder Legal supports a number of startups in the consumer spending space.
A compelling experience, but competitors (and regulators) still have a chance
In his comments, Alykhan noted that while Apple can provide a seamless customer experience, existing entrants will be forced to innovate, which could be a boon for consumers. Regulation also looms for all market participants, something that can upend any startup or new business, including Apple’s.
A Seamless Shopping Experience for Apple Customers
Alykhan noted for Finance Magnates, that “Apple devices are the gateway for many consumers shopping online. The more seamlessly they can integrate into the shopping experience, the less likely customers are to use other services.”
But Look for Innovation in the BNPL Space
“Apple Pay Later] won’t necessarily kill the BNPL business,” said Sunderji.
“We often see multiple checkout options on an e-commerce website because customers have different preferences. I think we will continue to see multiple options for BNPL, and these options will drive healthy competition to please customers.”
“When Apple uses its own data to make a credit decision, it doesn’t have to comply with various regulations under the Fair Credit Reporting Act (like sending a formal notice if someone has been denied credit). But, we’ve seen that whenever consumers are offered easy credit in an unregulated environment, disaster is not far away,” said Sunderji.
Sunder Legal – A Seattle Business Law Firm
Sunder Legal leverages the expertise of its principal attorney, Alykhan Sunderji, to advise businesses and startups in Seattle and surrounding areas. To set up a meeting with Alykhan, Contact Us. You can call or easily schedule an appointment from our website.