Experian Consumer Credit Reports to Now Include Apple Pay Later Loan Information
Experian is committed to driving transparency in the BNPL industry and doing so in a way that doesn’t inadvertently negatively impact consumers. Given this, Apple Pay Later loans borrowed today onward will appear on a consumer’s Experian credit report with a BNPL designation starting
When BNPL account information becomes more widely reported to Experian by additional BNPL providers, a consumer’s BNPL history will be visible to lenders who request an Experian credit report — enabling lenders to make more informed decisions when determining whether to extend credit offers.
“We designed Apple Pay Later with our users’ financial health in mind, and an important part of this is ensuring that their loans are reflected in their overall financial profiles,” said
Experian’s role as the first credit bureau receiving Apple Pay Later loan information underscores the company’s commitment to drive industry transparency while protecting consumers. Experian has a longstanding history of working with leading BNPL providers and is in active conversations to expand the reporting of BNPL information on consumer credit reports.
“Experian has long supported the use of expanded data sources, including BNPL information, to help consumers build their credit profile and improve their financial health,” said
To learn more, visit https://www.experian.com/consumer-education-content/buy-now-pay-later-faq.
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Experian Public Relations
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Source: Experian