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https://droomdroom.com/understanding-buy-now-pay-never-in-payfi/
Buy Now, Pay Never is a groundbreaking concept introduced by PayFi, a new model in blockchain-based finance. Unlike the traditional "Buy Now, Pay Later" system, this approach allows users to make purchases without paying any actual money or crypto. Instead, the cost is covered through rewards accumulated from DeFi platforms. |
The idea functions like an advanced version of cashback—except users spend entirely using crypto rewards earned from activities on liquidity pools, peer-to-peer dApps, and other PayFi-integrated platforms. |
The concept gained momentum when Solana Foundation President Lily Liu predicted that PayFi could potentially surpass DeFi in impact. This optimism is supported by recent data, as DeFi’s Total Value Locked (TVL) rose by 13% in May 2025—its highest during the current bull cycle. |
A key application of Buy Now, Pay Never could be in retail shopping, where brands might offer loyalty rewards in the form of crypto, reducing reliance on traditional financial systems and lowering transaction fees. |
Benefits: |
Encourages crypto use in everyday retail Makes payments more efficient and transparent Promotes self-custody of digital rewards
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Drawbacks: |
May favor large corporations able to offer higher rewards Smaller retailers could struggle to compete Practical use requires a substantial DeFi portfolio
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PayFi (short for Payment Finance) bridges traditional platforms and crypto payments, aiming to create a faster, more transparent, and more decentralized payment infrastructure. While still evolving, the concept of Buy Now, Pay Never could significantly reshape how we think about spending and rewards. |
