Buy now, pay later (BNPL) services have become a way of life among younger generations and lower-income consumers in the past few years, with their use quickly growing over time. Certain industries see greater usage than others, with 44% of BNPL users saying they used...
British bank Virgin Money announced the launch of a new credit card that will allow customers to spread their payments over several months, entering the increasingly competitive buy now, pay later (BNPL) space, according to a Tuesday (July 26) press release. Customers will not incur...
The question of how buy now, pay later (BNPL) point-of-sale credit can migrate to B2B channels is a relatively new twist on a very old concept — net payment terms for business-to-business (B2B) purchases. Perhaps debatably, B2B is the original BNPL use case. It’s still...
Buy now, pay later (BNPL) firm Zip says it is “deprioritizing” a planned cryptocurrency financial services product, and is considering an impairment charge against some of its assets in Europe and the U.S. According to a quarterly report to investors released Thursday (July 21), the...
With approximately $97 billion in buy now pay later transactions last year, the increased popularity of the financial offering has garnered significant regulatory interest around the world. As with any new financial product that didn’t fit in the existing regulatory framework, regulators raised concerns that...
Deutsche Bank is partnering with the FinTech startup Credi2 to introduce a white label buy now, pay later (BNPL) product for online merchants and eCommerce marketplaces in Germany. The pilot is scheduled to start this year and will enable online retailers to integrate the installment...
On Wall Street, there are haircuts — and then there are full-blown shearings. Yes, the headlines may be focused on Klarna’s 85% shellacking when its most recent financing round, at $800 million, implies a $6.7 valuation that is leagues below the $45.6 billion seen last year....
Two years ago, a low-interest environment and pandemic-induced surge in eCommerce resulted in a buy now, pay later (BNPL) boom that saw the likes of Swedish provider Klarna rise to become globally recognized brands and giants of the digital payments space. And as investors saw...
There’s a huge gap in working capital financing for small- and medium-sized businesses (SMBs) in emerging markets across Africa, estimated at about $340 billion by the World Bank. And to help keep businesses afloat, most business-to-business (B2B) firms are tackling the problem by providing cash-based...
