CRELAN was formed in 2013 through the merger of Lanbouwkrediet and Centea. Headquartered in Anderlecht, Belgium. Operates under a 100% cooperative business model
Installment payments allow customers to spread purchase costs over multiple payments. Market valued at $90 billion in 2020, expected to reach $4 trillion by decade's end. 45 million US consumers use installments for purchases
BNPL is short-term financing allowing customers to pay later without traditional credit. Three main parties involved: consumer, merchant, and BNPL provider. Notable providers include Affirm, Klarna, and Afterpay
Payflex is South Africa's leading BNPL payment method. Customers pay 25% upfront, then 4 installments over 6 weeks. System is part of $1 billion Zip Co group listed on Australian Stock Exchange
BNPL allows customers to pay for purchases in installments without interest. "Pay in 4" means dividing payments into four equal installments over six weeks. BNPL companies typically don't charge interest or fees
Credit is trust allowing deferred payment of resources between parties. Term "credit" first used in English in 1520s. Credit cards became prominent during 1900s with company chains