Merchants using J.P. Morgan Payments’ Commerce Platform in the United States can now offer Klarna’s flexible payment options at checkout, with no integration required. With this new capability, businesses across all retail categories can offer their customers Klarna’s pay in full, interest-free installments and longer-term financing,...
I thought that would get your attention. The tale of two Lucys will make my point. Meet 22-year-old Gen Z Lucy. She’s buying a $120 pair of shoes, and using a BNPL provider, is able to split the tab into four $30 payments. She has...
Oregon is reminding pay later companies they must have state lending licenses before offering their services. The proposed bulletin from the Oregon Department of Consumer and Business Services, Division of Financial Regulation (DFR) was issued earlier this month, and is the subject of a Tuesday (July 28) article from law...
Ebanx and Pagaleve have partnered to enable consumers in Brazil to pay in installments using the country’s instant payment system, Pix. The companies’ Pix 4x solution allows consumers to pay in four biweekly installments, including the first payment that is made at checkout, they said in a Tuesday (July 28) press release. Because...
Buy now, pay later users are no longer choosing one provider and staying loyal. They are building a payment toolkit, selecting different installment options for different purchases. That shift defines “BNPL’s Multi-Provider Moment: Why Shoppers No Longer Pick Just One,” the latest edition of the PYMNTS Intelligence Pay...
The New York State Department of Financial Services (DFS) posted a notice of proposed rule making regarding buy now, pay later (BNPL) lenders together with the text of the proposed regulation Wednesday (July 15) and will accept public comment on the proposed regulation until Sept. 14, according to the department’s regulatory activity page....
PayPal introduced another buy now, pay later (BNPL) option for its customers in the United Kingdom, according to a Tuesday (July 14) press release. Pay in 30 Days lets shoppers complete a purchase up front and pay the full amount up to 30 days later,...
Klarna is working on a significant risk transfer (SRT) that will enable it to offload credit risk tied to buy now, pay later (BNPL) loans and free up capital, Bloomberg reported Tuesday (July 14), citing unnamed sources. The SRT is tied to about 5 billion...
This week marks a new era for buy now, pay later (BNPL) products in the U.K. Beginning Wednesday (July 15), these interest-free installment products will be governed by the country’s Financial Conduct Authority (FCA) for the first time, putting a payment option used by roughly 11 million British consumers...