Retailers that offer a variety of credit options draw in consumers battling the constraints of higher prices and stagnant wages to help them smooth things over. Prior PYMNTS’ research established improved spend management as a top reason for younger consumers to use credit products. Our...
Buy now, pay later (BNPL) isn’t just for school kids. While the payment solution has thrived among a cohort of consumers who don’t have credit (for example, school kids), the payment method has also gained steam across various demographics, including older folks. Furthermore, its growing...
PayPal is selling more than $43 billion worth of its European buy now, pay later (BNPL) loans. The payments company announced Tuesday (June 20) it was selling loans originated in France, Spain, Germany, the U.K. and Italy to investment firm KKR. According to a news...
Payments network Klarna has debuted new products geared toward environmentally-conscious shoppers. The company launched its top-up donations feature and an upgraded carbon footprint tracking tool, according to a Wednesday (June 14) press release, at a time when retailers are debating the effectiveness and cost of...
Amazon has added Affirm’s pay-over-time option to Amazon Pay. With this addition, eligible United States merchants using Amazon Pay can allow their customers to choose the pay-over-time option at checkout, the companies said in a Wednesday (June 7) press release. “We know customers want convenient and flexible payment options —...
Worldpay has launched a partnership with buy now, pay later (BNPL) provider Affirm. The multi-year collaboration, announced Wednesday (May 31) makes Affirm’s Adaptive Checkout offering available to eligible Worldpay merchants, letting them offer consumers bi-weekly and monthly payment options. “It’s becoming increasingly important for merchants...
Tabby says new financing will let it expand its buy now, pay later (BNPL) service. The Dubai-based FinTech announced Wednesday (May 31) it had closed a new funding round resulting in upsizing its debt facility to $350 million, a more than two-fold increase since the...
From Australia, the land that invented buy now, pay later (BNPL) as we now know it, comes news this week that laws are changing to treat the installment payment product as credit. The move may well make its way around the world in much the...
Buoyed by changing consumer habits in the wake of the pandemic, the buy now, pay later (BNPL) financing model has exploded in recent years, with more and more consumers and businesses embracing interest-free installment payments on purchases to avoid credit card debt. This surge in...