Tagged: bnpl

August 19, 2022 @ 9:02 am By JD Alois  |  

The UK Financial Conduct Authority (FCA) has issued a warning to Buy Now – Pay Later (BNPL) providers pertaining to misleading advertisements. A copy of the “Dear CEO” letter sent to BNPLs is viewable here. BNPL platforms offer point of sale credit to consumers which… Read More

August 15, 2022 @ 11:27 pm By Omar Faridi  |  

BNPL Fintech Affirm (NASDAQ: AFRM) CEO Max Levchin recently noted that the next recession could silence Fintech lender’s doubters or critics. With shares of the Buy Now, Pay Later (BNPL) Fintech down over 75% from November 2021, Max Levchin said the company’s innovative lending models… Read More

August 8, 2022 @ 11:58 pm By Omar Faridi  |  

Since 2020, and the recent global pandemic, digital commerce has seen “exceptional growth,” according to an update from Juniper Research. Although the impact of COVID-19 certainly forced an increase in online shopping and eCommerce usage, it is clear that it is “a continuing trend,” the… Read More

August 7, 2022 @ 8:25 pm By Omar Faridi  |  

The Consumer Credit Oversight Board Task Force in Malaysia recently shared the Consumer Credit Act consultation document, which is the new act that aims to properly regulate and consolidate all consumer credit activities under its unit, and to also support “fair” lending and “responsible” conduct… Read More

August 5, 2022 @ 11:10 am By Omar Faridi  |  

Affirm (NASDAQ: AFRM), the payment network that empowers consumers and helps merchants drive growth, recently announced its ability “to increase its app releases by 300%, thanks to its ongoing work with mobile devops company Bitrise.” Since 2019, Affirm has been “working with Bitrise to automate… Read More

August 3, 2022 @ 8:42 am By Omar Faridi  |  

Agile Financial Systems (AFS), a financial technology company specializing in payment processing, announced that it has teamed up with LendingPoint, an AI-driven CreditTech financial platform, “to offer merchants consumer lending and unsecured personal loans online and at the point of sale.” By enabling merchants to… Read More

July 31, 2022 @ 7:21 pm By Omar Faridi  |  

Razer Merchant Services (RMS), the B2B arm of Razer Fintech, has partnered with Atome, which claims to be Asia’s leading Buy Now Pay Later (BNPL) brand, to “enable flexible deferred payment acceptance during checkout at online and offline RMS merchants.” Starbucks is among the first… Read More

July 28, 2022 @ 7:09 pm By JD Alois  |  

Ratings agency Fitch is out with commentary on the buy now – pay later (BNPL) sector that is cautious on the new form of credit. According to Fitch: “BNPL is likely to face increased challenges from growing competition, higher funding costs and credit deterioration, as… Read More

July 27, 2022 @ 9:47 am By JD Alois  |  

Upgrade, a Fintech providing credit services along with neo banking offerings like checking, has announced a new card that combines buy now- pay later (BNPL) services alongside the option to pay now. According to a statement from the company, the Upgrade OneCard is a single… Read More

July 27, 2022 @ 8:24 am By Omar Faridi  |  

Virgin Money has announced it is set “to enter the buy now, pay later market later this year, with its market-leading product, Virgin Money Slyce.” This will allow customers “to enjoy the benefits of a traditional buy now, pay later product in a simple, safe… Read More

July 25, 2022 @ 10:31 pm By Omar Faridi  |  

Ablr, a Buy Now Pay Later (BNPL) platform, recently revealed that it has now gone live in Malaysia. At present, the company has a network of more than 30 different brands in Malaysia and Singapore, which span around 250 merchant points. First-time consumers may download… Read More

July 16, 2022 @ 10:03 pm By Omar Faridi  |  

Synchrony (NYSE: SYF), a financing company, recently announced that merchants will now be able “to offer a short-term, no interest installment option,” Synchrony SetPay pay in 4, “via the Clover® point-of-sale and business management system from Fiserv, Inc.” This buy now, pay later (BNPL) offering… Read More

July 14, 2022 @ 3:19 pm By Omar Faridi  |  

A new partnership between global branded payments provider, Blackhawk Network, and global retail bank, payments, and shopping service, Klarna, will extend the ability for consumers “to use Klarna’s interest-free alternative payment solutions at a variety of physical retail locations.” As consumers expect increased flexibility in… Read More

July 12, 2022 @ 9:53 am By JD Alois  |  

As was previously reported, Klarna has raised $800 million in funding but at an even lower valuation. Klarna raised the capital at a “post-money” valuation of $6.7 billion. This is a profound drop in valuation as Klarna was valued at $45.6 billion in the not-so-distant… Read More

July 7, 2022 @ 4:02 pm By Omar Faridi  |  

Kueski, which claims to be one of the largest buy now, pay later (BNPL) and online consumer lenders in Latin America, announced the appointment of Sung Hae Kim as the company’s Chief People Officer. Kim’s main objectives are “to promote Mexico as a technology and… Read More

July 6, 2022 @ 12:59 pm By Omar Faridi  |  

As part of Amazon Egypt’s ongoing commitment to improve its shopping experience and offer clients in the country with flexible and affordable payment options, Amazon Egypt (amazon.eg) is offering installment plans via valU, the Buy-Now, Pay-Later (BNPL) lifestyle-enabling Fintech in MENA, a subsidiary of EFG… Read More

July 1, 2022 @ 4:10 pm By JD Alois  |  

  Multiple reports are indicating that Fintech lender and digital bank Klarna will be raising new capital at a $6.5 billion valuation. This is a huge haircut from its last valuation which saw the firm raise money at a whopping $45.6 billion. It was reported… Read More

June 30, 2022 @ 11:29 am By JD Alois  |  

Zilch, a UK based buy now – pay later (BNPL) provider has extended Series C by $50 million now raising $160 million now valued at around $2 billion. Zilch claims to be the fastest-growing Fintech Unicorn in Europe. In total, ZIlch has raised $460 million… Read More

June 27, 2022 @ 6:01 am By JD Alois  |  

Neobank/digital bank Revolut will roll out its buy now – pay later (BNPL) product starting with Ireland. Revolut is entering a rather crowded market but is providing a service that has dramatically increased in popularity in recent years. According to Revolut Ireland as of last… Read More

June 27, 2022 @ 12:58 am By Omar Faridi  |  

Splitit (ASX: SPT) and Everyware, a contactless payments and customer engagement solutions company, have agreed to a partnership “to bring Splitit’s Installments-as-a-Service platform to Everyware’s Pay By Text platform eliminating consumer friction for mobile installments.” Everyware will integrate Splitit’s Installments-as-a-Service into its platforms “to deliver… Read More