Velera: Consumer Sentiment Slips, But Spending Holds Steady As BNPL Activity Grows
By CU Today Staff —
TAMPA--While consumer sentiment continued to erode in January, actual consumer spending remained resilient, reported Velera, citing its February edition of the Velera Payments Index.
The CUSO noted there was no change in the positive trend from January results, with year-over-year growth for both transactions and purchases.
The report includes a deep dive into buy now, pay later activity.
“Members are telling us they want BNPL to work with the money they already have, not around it,” said Angel Siorek, vice president, product management Velera. “Every time a payment flows through a third-party BNPL app, the credit union loses a little visibility into the member’s day‑to‑day financial life. When credit unions bring BNPL into their own digital experience — including wallets like Apple Pay — and use member‑centric criteria, they can keep those payments in their ecosystem and turn installments into a tool for engagement and financial wellness, not just another checkout option.”
Key takeaways for January include:
The full report is available for download here.
Originally reported by CU Today.