Buy Now, Pay Later (BNPL) has become a global phenomenon, but crypto may have launched its own twist.
Launched on June 6, NeverPay has unveiled a new payment system called Buy Now, Pay Never (BNPN), which allows users to spend without selling their crypto or taking on debt.
The platform allows customers to stake cryptocurrency for a fixed 12-month period. In return, users receive two types of tokens: one representing the original deposit and another tied to the staking rewards the asset will generate over time.
NeverPay uses those expected rewards to pay merchants immediately in stablecoins like USDC. This enables users to purchase goods or services instantly, without paying any transaction fees or giving up ownership of their original crypto holdings.
Similar names, different realities
Given the name, it’s hard not to draw comparisons between NeverPay’s BNPN and the increasingly popular BNPL payment method used worldwide.
BNPL is currently under growing regulatory scrutiny, with New York recently introducing the first state-level licensing regime to enforce consumer protections, capital standards and clearer disclosures.
However, despite the similar names, BNPN and BNPL are fundamentally different. BNPL relies on credit extension, allowing consumers to defer payments and often leading to debt accumulation. In contrast, BNPN enables users to spend by staking their crypto assets, leveraging future rewards to pay merchants immediately in stablecoins, without borrowing or incurring debt.
For merchants, BNPN offers instant, fee-free settlement without exposure to crypto price volatility, simplifying the acceptance of payments. Consumers will be able to benefit by retaining ownership of their crypto holdings while gaining immediate purchasing power. This model could appeal to crypto-savvy users looking for alternatives to traditional credit.
That said, BNPN’s reliance on staking mechanisms means it is unlikely to achieve the same mainstream adoption as BNPL anytime soon.
