In a move towards greater transparency and responsible credit reporting in the buy now, pay later (BNPL) industry, Experian^® today announced it will now include “pay-in-4” BNPL loan information from Apple Pay Later on consumers’ credit reports, making Apple the first major BNPL provider to fully furnish “pay-in-4” loan information and payment history directly to the credit reporting agency.

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 March 1. While consumers will be able to see their Apple Pay Later loan information on their Experian credit report, the information won’t be factored into existing traditional credit scores but may in the future as new credit scoring models are developed.

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 Jennifer Bailey, Apple’s vice president of Apple Pay and Apple Wallet. “By reporting Apple Pay Later loans to Experian, we aim to help promote greater transparency and responsible lending for both the borrower and the lender, while providing users with the opportunity to further build their credit.”

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 Jennifer Schulz, CEO of Experian North America. "We applaud Apple for taking this meaningful first step and look forward to working with other leading BNPL providers to drive greater transparency that will benefit lenders and consumers alike."

To learn more, visit https://www.experian.com/consumer-education-content/buy-now-pay-later-faq.

About Experian

Experian is the world’s leading global information services company. During life’s big moments – from buying a home or a car, to sending a child to college, to growing a business by connecting with new customers – we empower consumers and our clients to manage their data with confidence. We help individuals to take financial control and access financial services, businesses to make smarter decisions and thrive, lenders to lend more responsibly, and organisations to prevent identity fraud and crime.

We have 22,000 people operating across 32 countries and every day we’re investing in new technologies, talented people, and innovation to help all our clients maximise every opportunity. With corporate headquarters in Dublin, Ireland, we are listed on the London Stock Exchange (EXPN) and are a constituent of the FTSE 100 Index.

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