Restaurants may be benefitting from consumers’ willingness to use buy now, pay later (BNPL), but the popularity of this payment method belies a larger challenge for the industry. The Data Point According to PYMNTS Intelligence from the new report “Tracking the Digital Payments Takeover: What...
Paying for purchases in installments is a classic concept in retail, with legacy offerings such as Christmas layaway plans helping consumers manage their spending for decades. Modern iterations, such as credit card installments and buy now, pay later (BNPL) plans, are for every season. Consumer...
Klarna reported earnings results for the first half of 2023, showcasing a profitable second quarter that exceeded its expectations. The Stockholm-based, artificial intelligence (AI)-powered global payments network and shopping assistant has successfully aligned its strategic focus on both profitability and growth, Klarna said in a Thursday (Aug. 31)...
The ability to pay over time is underpinning discretionary spending resilience. In recent weeks and months, joint research between PYMNTS and Sezzle has underscored the embrace of buy now, pay later (BNPL) at the point of checkout. In the report “The Credit Accessibility Series: BNPL’s Wide-Ranging Impact...
Installments-as-a-service platform provider Splitit has secured an investment of $50 million from private equity firm Motive Partners. This commitment is composed of two tranches of $25 million in exchange for the issuance of new preference shares, Splitit said in a press release. The first tranche will be invested...
Traditional credit is more difficult to access and increasingly expensive to maintain as the Federal Reserve keeps raising rates, driving some consumers are seeking alternative ways to make purchases. As illustrated in the recent PYMNTS collaboration with Sezzle, “The Credit Economy: How Younger Consumers Make...
Buy now, pay later (BNPL) plans, in which consumers pay off purchases in a set number of payments and usually interest-free, have gained popularity in recent years. As detailed in the June PYMNTS collaboration with Sezzle, “The Credit Economy: How Younger Consumers Make Credit Decisions,”...
As consumers struggle to make ends meet, the burden of unexpected car repairs can be overwhelming. David Meniane, CEO CarParts.com, said in a recent interview that, though it’s tough to gauge where we are in the macro-economic cycle, there are some longstanding trends in place. ...
Millennials’ financial well-being might be a bit shaky — or soon will be. The pause on student loan payments is set to end, and the much-anticipated loan forgiveness floated by the President Joe Biden administration was struck down by the Supreme Court. That means that...