For years, the narrative around Buy Now Pay Later (BNPL) has focused on criticising Gen Z and millennial users. But new data from Qlarifi’s world first, multi-provider and real-time pilot, tells a different story.
We analysed over 6 million BNPL transactions across Italy, one of the most regulated BNPL markets. The results challenged conventional assumptions and highlighted the value of Qlarifi’s platform when it comes to risk reduction and better consumer outcomes.
Most BNPL providers know they have a data problem. Regulators know it too. Because until now, there’s been no infrastructure that can show real-time, cross-platform user behaviour, so they’ve been basing decisions on assumptions, not fact.
Over the last six months, we ran a multi-provider pilot across Italy, analysing more than 6 million transactions in real time. The findings challenge every major assumption in the BNPL space.
Older users (55–64) had higher default rates than Gen Z
Small-ticket items (<£75/€75/$80) had the highest default rates
Frequent users were less likely to default than first-timers
Average user exposure was just €180
Nearly 1 in 3 users were over 45
The takeaway? High usage doesn’t drive default. And BNPL isn’t just for Gen Z - it’s mainstream.
For BNPL providers, this is a game-changer. You can now see:
Who’s overextended across platforms
What are the real risk signals
Where you’re restricting access unnecessarily
And you can do it in real time, across the ecosystem, not just within your own walls.
“Qlarifi gave us access to insights we didn’t even know we were missing,” said Gianluca Cocco, CEO of Qomodo. “It helped us identify high-risk customers earlier, but just as importantly, it highlighted users with strong payment behaviour we might have unfairly restricted. It’s enabled us to act faster, more fairly, and more accurately - protecting consumers while lowering our own costs.”
What's next
We're now rolling out across Europe, including the UK
A US expansion is underway
We’re already talking to regulators about using our solution to help protect consumers.
