Experian, a global information services and consumer credit-reporting firm, has been appointed to operate Singapore’s buy now, pay later bureau by the Singapore Fintech Association (SFA) and the BNPL Working Group.
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Experian will operate the bureau and all accredited BNPL players will share users’ credit information with it. The data includes outstanding BNPL balances, missed payments, and delinquencies, which will help Experian gauge creditworthiness.
The company said the information will support services compliant with the BNPL code of conduct, announced last month by the BNPL Working Group. The SFA and industry players including Atome, Grab Financial Group, and ShopBack established the group earlier this year.
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Maria Liu, Experian’s managing director for Greater China and Southeast Asia, said in a statement that the company has been operating BNPL bureaus in the US and the UK.
Going forward, the firm aims to roll out a series of knowledge-sharing initiatives for all accredited BNPL players in Singapore.
Editing by Miguel Cordon and Arpit Nayak
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