Split payment under supervision in the United States

The threats are becoming clearer, in the United States, on the installment payment. The Consumer Financial Protection Bureau (CFPB) announced a few days ago that it was launching an investigation into several companies specializing in this popular practice. PayPal, Affirm and Afterpay are particularly concerned, while the federal agency is also awaiting responses from the Swedish start-up Klarna, recently established across the Atlantic, and Zip.

“Split payment is the new version of layaway [facilité de paiement, NDLR], but with a more modern and fast touch, where the consumer gets the product immediately but also inherits a debt immediately, ”CFPB director Rohit Chopra said in a statement. Companies have been asked to clarify their practices, so that consumers are fully informed of the risks they run.