Consumer behaviour at the point of sale is constantly shifting. To meet this demand, the number of choices available has grown exponentially.
BNPL business models gained momentum in Brazil earlier in the year among financial technology firms catering services to cardless customers.
Worldpay’s new Global Payments Report says buy now, pay later is set to double in size by 2023; payments and...
Competition isn’t the only thing that will factor into the performance of split-payment services; underwriting and pricing will also be key....
The data from these transactions could help millions of borrowers with thin or nonexistent credit files. But how the credit reporting industry collects and treats the data may matter more than the data itself.
Numerous unaccredited and loosely regulated schools are offering buy now/pay later products as a payment option for students, according to the Student Borrower Protection Center. Its report, which called out PayPal, Klarna, Affirm and Afterpay, comes as the CFPB is considering how to regulate the sector.
ChargeAfter doesn't offer installment loans. Instead, it's tapping into the BNPL craze by bringing together the banks and merchants that are active in the market.
The Swedish fintech's funding model is likely to be threatened by higher interest rates in the U.S. and Europe.
Now that JPMorgan Chase, Goldman Sachs, Capital One and others offer the alternative credit option, the startups that created this market are adding products to cement their hold on consumers and merchants.
Steve Squeri said installment lenders primarily cater to debit card users and that even American Express's own BNPL product does not compete with the company's credit and charge cards.