Consumer Finance

Consumer financing is when a business offers financing to their customers with help from a professional finance company. This allows the consumer to pay for a good or service they couldn't pay for up front in cash or credit card. Consumer finance is helpful for both businesses and consumers
Consumer Finance
Revolving Credit’s Pace Surges 6.3% in May as Card Spending Continues
July 08, 2024

Consumers were not shy about loading up on the cards in May. The latest data from the Federal Reserve, released Monday (July 8), show that overall, consumer credit rose $11.3 billion in June, far outstripping the $6.5 billion gain on an absolute and annualized basis....

Consumer Finance
23% of Grocery Shoppers Alienated by High Prices
July 05, 2024

As grocery shoppers look to find the merchant best suited to their needs, a significant share of customers find themselves put off by higher-than-expected prices, threatening their loyalty. By the Numbers The PYMNTS Intelligence report “The Online Features Driving Consumers to Shop With Brands, Retailers...

Consumer Finance
Trending: Embedded Finance Performs Double Duty as Sales Enablement Tool
July 03, 2024

It’s a challenging time at retail — both online and in-store. Merchants are grappling with a volatile economy and the fact that consumers, in at least some cases, are reining in their spending. Max Rieck, CFO at Versatile Credit; Chris Guido, head of TD Owned...

Consumer Finance
White House Pauses Student Loan Repayment for 3 Million Borrowers
June 30, 2024

The Department of Education is reportedly pausing repayments for around 3 million student loan borrowers. The pause comes as the White House defends its new repayment plan against a spate of GOP-backed lawsuits, CNBC reported Sunday (June 30). Enrollees in the Saving on a Valuable...

Consumer Finance
Two-Thirds of Financially Stressed Consumers Revolve Their Credit Card Balances Each Month
June 27, 2024

As consumers look for ways to make ends meet, many of those who do not have a financial safety net are forced to carry their credit card balances over to future bills. By the Numbers “The Credit Card Use Deep Dive Edition” of the PYMNTS...

Consumer Finance
Exclusive: Synchrony Expands ‘Second Look’ Partnership With Atlanticus
June 26, 2024

Synchrony Financial and Atlanticus Holdings announced an expansion of their existing partnership Wednesday (June 26) creating a new multiyear agreement that aims to broaden financing options for consumers and merchants. Atlanticus — parent company of the Fortiva brand — becomes the preferred provider of second-look...

Consumer Finance
LendingClub’s Structured Certificates Program Surpasses $3 Billion in Loans Sold
June 17, 2024

LendingClub has sold more than $3 billion in loans through its Structured LendingClub Loan Certificate program since the launch of that program in April 2023. In this program, LendingClub retains the senior note and sells the residual certificate on a pool of loans to a...

Consumer Finance
Study: Small Businesses Emerge as Prime Candidates for Embedded Lending Products
June 12, 2024

Lenders across major global economies offer embedded lending. However, data suggests that the typical lender that serves consumers or small- to medium-sized businesses (SMBs) has not fully embraced the potential of embedded lending. For example, nearly half of lenders serving SMBs have not entered this...

Consumer Finance
FDIC Warnings and ‘False’ Deposit Insurance Claims Spotlight Non-Bank Risks
June 11, 2024

The headlines swirl around Synapse’s bankruptcy and customers’ tales of being frozen out of their accounts. The FinTech space is always evolving, and the ongoing legal wrangling and attempts to find $85 million in account shortfalls will seemingly be long and drawn out, with no...