Paying over time, traditionally a hallmark of short-term installment loans, is becoming an option where goods are paid for using money on hand and over several installments. Some banks are now offering customers the option to have their debit purchases become buy now, pay later...
Klarna and Xero partnered to enable the users of Xero’s small business platform to offer their customers a buy now, pay later (BNPL) option. With this option, small businesses can get paid up front while their customers can pay over time without high interest rates...
Buy now, pay later (BNPL) network Affirm is now available for Apple Pay users. The integration, announced Monday (Sept. 16), lets Apple Pay users in the U.S. pay for purchases via iPhone and iPad over time using Affirm, breaking down their payments into biweekly or...
Sweden’s Financial Supervisory Authority (FSA) reportedly criticized Klarna’s risk assessment, saying the company has not done enough to battle money laundering and terrorist financing. The FSA said in a letter to Klarna CEO Sebastian Siemiatkowski that its preliminary assessment found that the company violated regulations...
Ad-subsidized payments network Zilch recorded its first profitable month in July. In the same month, Zilch’s revenue run rate exceeded $130 million, according to a Tuesday (Sept. 3) press release. “The speed at which Zilch has achieved profitability places it in the same bracket as...
Buy now, pay later (BNPL) firm Sezzle plans to have WebBank serve as its exclusive bank to originate and finance products offered through the Sezzle platform, including its Pay-in-2 and Pay-in-4 products. The two companies entered into a strategic partnership program by executing a loan...
U.S. retail customers are adopting buy now, pay later (BNPL) options for in-store transactions, according to Zip. On a call with analysts Monday (Aug. 26) discussing the Australia-based FinTech company’s fourth quarter fiscal 2024 financial results, CEO Cynthia Scott spoke to this shift. “Our Americas...
In the global view, small businesses aren’t so small. They represent 90% of all businesses and more than 50% of employment globally. And in emerging markets, they are contributing 40% of GDP. Those stats from the World Bank underscore the need for these smaller companies...
As the financial landscape continues to evolve, traditional banks face an increasing challenge from digital-native FinTechs. The recent surge in buy now, pay later (BNPL) services presents both a threat and an opportunity for banks striving to regain a foothold in a market shifting toward...
