Equifax to Include Buy-Now, Pay-Later Purchases on Credit Reports
- Firm will be first major credit-reporting company to make move
- Users of BNPL can ‘boost their credit profile,’ Equifax says
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Equifax Inc. will begin including on its credit reports those purchases that allow users of popular apps to pay off big items over time.
The Atlanta-based firm will become the first major credit-reporting company to make the move, according to a statement Monday. Equifax now has the task of persuading major buy-now, pay-later providers -- firms such as Afterpay Ltd. and Klarna Inc. -- to begin reporting their consumers’ data to the company.