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Consumer Reports' vision for a Fair Digital Financial Marketplace is one in which digital finance products let consumers spend, save, borrow, and invest safely; respect their privacy and data; provide the benefits they expect; and protect them from discriminatory and predatory practices; all while helping them achieve their financial goals. We will promote that vision by providing timely, independent, and reliable reviews of technology-driven digital finance products and services.
Consumer Reports has developed the Fair Digital Finance Framework to evaluate digital finance products to raise standards, strengthen consumer protections, and empower consumers
Digital finance products are secure and minimize risks
People have control over their data and understand what is collected, how it is used, and with whom it is shared
Digital finance companies communicate with users in a complete and meaningful way
Digital finance products and services center user needs and experiences
Digital finance products and services are designed to benefit consumers and support consumer financial well-being
Digital finance products and services seek to minimize barriers to access and use
Digital finance companies are committed to environmental responsibility, social responsibility, and corporate governance
In this second case study of digital finance product examinations, Consumer Reports applied additional methods and procedures from the Fair Digital Finance Framework to evaluate the safety, privacy, and transparency of buy now, pay later apps.
Read how Consumer Reports applied a portion of the Fair Digital Finance Framework to evaluate the safety, privacy, and transparency of peer-to-peer payment apps, and what the results mean for the digital finance ecosystem.