Digital wallets, buy now, pay later (BNPL) and a wide range of credit cards and apps compete for space at the checkout, adding friction to the point of sale. Frustrating checkout processes and requirements for personal information are causing the most friction. On the flip...
BNPL users have relatively few financial safety nets in place should they run into difficulties managing their obligations. That’s an if and not a when, but borrowers are more financially stretched than non-buy now pay later (BNPL) users. A new report from the Consumer Financial...
Data demonstrates that any rumors of the installment plan’s demise may have been greatly exaggerated. By most accounts, buy now, pay later (BNPL) and similar installment plans are having their heyday. Consumers across income and age demographics have embraced the option as one alternative to...
Exactly one year ago buy now, pay later (BNPL) firm Zip entered a definitive agreement to acquire rival Sezzle. Fast-forward to Wednesday (March 1), and Zip is exiting most of the markets in which it operates, ending its vision of global expansion. As reported by...
Sezzle is looking to drive revenues after ending a challenging 2022 on a high note. The buy now, pay later (BNPL) provider released quarterly earnings figures Tuesday (Feb. 28) that show the company’s income jumping 16.2% to a record $38.3 million. And as it heads...
Payments company Klarna has debuted a program to reduce missing payments among its U.K. borrowers. The Swedish buy now, pay later (BNPL) provider announced recently it has historically not charged a late fee in the U.K., despite doing so in other countries. Now, that’s about...
There have been speed bumps for buy now, pay later. PYMNTS’ own data shows that the opportunity is significant for BNPL providers: Research shows 2.8% of online retail purchases completed with buy now, pay later as of Q4. But BNPL’s presence within retail spending overall is still...
Affirm is raising interest rates on its buy now, pay later loans. In an interview with Bloomberg News on Friday (Feb. 17), CEO Max Levchin said the company has convinced several major retailers — Dick’s Sporting Goods and Shopify among them — to permit it...
PayPal has lent its support to Australia’s planned buy now, pay later (BNPL) regulations. In a letter released Thursday (Feb. 16) as part of a government inquiry into the BNPL industry, the payments firm said it was in favor of a “tailored, proportionate and thoughtful regulatory framework” for...