Alma CEO Says Zero Late Fee Policy Risky for BNPL

Louis Chatriot, Co-founder and CEO of Paris-based BNPL firm Alma tells PYMNTS that while late fees are an important source of revenue for traditional lenders, companies like the French FinTech firm have chosen a zero late fee policy to align with consumers’ interest. But doing so comes at a risk, and data sharing regulation must be enforced to make it easier to lend to the right consumers.