This purchase now, pay later fintech firm is taking on the out of doors market | Model Ave. Studios


Photo provided by Credova

The beauty of free markets is that they are constantly changing. As financial markets move up and down, market participants must adjust and adapt to the landscape. Sometimes in times of change, completely unrelated industries come together and a new way of doing business emerges. The pandemic also brought many changes to the market. For example, two unlikely industries that have been brought together during this market transformation are payments and outdoor leisure.

Join Credova Financial, a leading Buy It Now (BNPL) payment method focused on the outdoor lifestyle industry and headquartered in downtown Bozeman, Montana.

“Credova exists because a group of people were given the opportunity to create something that had never been brought to market before,” said Dusty Wunderlich, CEO of Credova. “With the guiding principle of embracing adventure, Credova boldly seized every available opportunity and built a better product.”

payment behavior of consumers

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Over the past decade, there has been a steady trend of consumers turning away from traditional revolving lines of credit. Consumers are cutting back on their credit cards and turning to installment loans. Point-of-sale financing 2.0 is just around the corner and means “buy now, pay later”. Think: old-school layaway with a new technology upgrade.

“Credova has created a payment method that can be used anywhere, does anything, and stretches far into the credit spectrum with incredible results,” says Wunderlich. “We’ve created a product that more businesses and more consumers can access than any other buy-now, pay-later provider in the game.”

Smart consumers are abandoning compound interest and moving towards simple interest rates, backed by easy-to-use technology. The pandemic has accelerated this trend: 56% of Americans have used the Buy Now, Pay Later service, and 62% of those users believe Buy Now, Pay Later will replace their credit cards. The generation gap is even more revealing: 49% of millennials don’t have a credit card, compared to 30% nationally. The largest living generation, Millennials, are a key driver in any market, especially when it comes to payments. Generational and societal shifts are transforming the post-pandemic payments industry at a rapid pace.

“Traditionally, credit is acquired by means of a hard loan request,” says Wunderlich. “As we’ve begun to see more disruptors in the traditional credit space, we’re seeing soft requests becoming the norm so that consumer creditworthiness isn’t compromised.”

On a larger scale, the impact of the pandemic and the increasing popularity of buy now, pay later will see the industry reach 680 billion in transaction volume globally by 2025. In 2020, revolving credit declined 5.7% year-on-year, while non-revolving loans increased by 4% over the same period. When consumers change their payment preferences at checkout, they also reconsider their purchases.

The Americans come out

America falls in love with the great outdoors again. As the economy stalled in 2020, Americans turned to outdoor recreation for entertainment, and it doesn’t appear to be slowing as economies reopen. Yellowstone welcomed nearly 5 million visitors in 2021, a new record and a 28% increase over the previous year. According to data from and Hipcamp, 10.1 million families camped for the first time in 2020, and camping reservations grew 68% over the five-year period through 2020.

Food shortages during the pandemic also brought many Americans a new awareness of hunting and fishing. Michigan saw a 67% increase in new hunting and fishing licenses and 46% more apprentice licenses in 2020. In 2020, Washington graduated more than twice as many residents from its hunter safety program and Nevada sent 50% more people through its hunter safety program.

Many consider the outdoor recreation industry to be a sleepy industry, but the numbers say otherwise. The nearly trillion dollar industry surpasses the oil and gas, pharmaceutical and automotive industries in annual consumer spending. More Americans participate in outdoor recreation each year (145 million) than professional football, basketball and other sports combined (134 million). Hunting expenses sustain more American jobs (195,000) than the combined workforces of some US-based tech companies. Americans also spend more on trail sports ($20 billion) than on home entertainment ($18 billion).

The outdoor leisure industry is an economic powerhouse undergoing a renewed period of growth that is anything but a fad. Combining this age-old industry with the rapid pace of technological change in e-commerce, online marketplaces and payments will bring more people to play in America’s backyard. What a great use of technology – helping people make their outdoor adventures easier. It’s a surprising game, but one that many can get behind.

“People want to get outside and get some relief from the struggles that COVID-19 has caused,” Wunderlich says. “As a company, it’s incredible to be able to offer a lower barrier to outdoor recreation through a payment solution that consumers are truly drawn to.”

Credova is now the leader in adventure, pays space later. Visit for more information.

This content is for informational purposes only and should not be construed as legal or financial advice. The views, thoughts and opinions expressed in this paid post belong solely to Credova and do not represent the views of Brand Ave. Studios or its parent company.

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