Buy Now Pay Later for Botox – Can PRIVI Make it Work?


Could Buy Now Pay Later (BNPL) work for Cosmetics and Beauty procedures and treatments? That’s the gamble PRIVI, a new BNPL company is taking.

It’s newest BNPL loans are specifically being offered for cosmetic surgery and beauty outpatient procedures such as Botox. As outlined in an Allure article.

With the popularity of cosmetic procedures is on the rise, there is significant increase in demand noted by plastic surgeons post-pandemic, the market for looking better is booming. But most consumers can’t afford the cost. That’s where a service like PRIVI steps in. Apparently 74% of cite cost as the reason they haven’t gone ahead with a cosmetic procedure such as Botox.

PRIVI is backed by PatientFi, a lender and credit company that is for healthcare. With PRIVI the goal is to expand the offerings into a somewhat related but different market. Obviously procedures such as Botox make people feel better, but are not medically necessary for the most part. PRIVI allows these treatments to be more accessible by breaking down costs into manageable monthly installments.

Cosmetic surgery is often not covered by regular health insurance plans. There is usually extremely strict criteria and varying approval rates if you go through health insurance.

What are the concerns to using PRIIV? Like all BNPL providers financial and consumer experts worry about the “phantom debt”. Will some potentially overspend and accumulate too much debt to look like your favorite celebrities or Instagram influencers? We’ve already seen it happen.

I haven’t reviewed PRIVI’s Terms of Service or the APR they have. I imagine it could potentially be high or misleading like Credova, a BNPL provider that focuses on the outdoor and gun market.

So far PRIVI’s innovative approach has generated over $1.3 million in funded treatments, so clearly there is demand.

If you are interested in using PRIVI yourself, please understand the full financial scope of procedure costs upfront. This will help you avoid unexpected expenses and better prepare for the monthly costs.

What do you think of PRIVI? Will this be a successful and niche BNPL offering?

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