May 13, 2024
Mexico-Based Aplazo Raises $70 Million for Omnichannel Payment Platform
Aplazo has raised $70 million in equity funding, including a $45 million Series B, to continue building its omnichannel payment platform. The Mexico-based company will also use artificial intelligence (AI)...
May 13, 2024
CPG Subscriptions Eat Into Walmart’s Grocery Share
Increasingly, when consumers go to the grocery store, it is just to buy food, such that leading grocery retailers are losing share of center-aisle products to eCommerce players such as subscription merchants....
May 13, 2024
Slowing Shopify Growth Spells Challenges for BNPL Partner Affirm
As Shopify’s growth slows down, its buy now, pay later (BNPL) partner, Affirm, is feeling the burn. Per its earnings report Wednesday (May 8), Shopify saw 23% year-over-year revenue growth...
May 10, 2024
Sally Beauty: High-Income Consumers Splurge, but Low-Income Shoppers Still Cautious
As middle- and high-income consumers return to treating themselves to nice-to-haves, such as new personal care products and services, Sally Beauty is seeing low-income shoppers continuing to cut back amid ongoing economic...
May 10, 2024
New Q1 Data Finds Older Demographics Driving Surge in Travel...
They’re probably not going to Paris to see Taylor Swift. But spending among older, high-income consumers has led a Q1 travel surge that cuts across income and age boundaries, even if...
May 10, 2024
Splitit Gives Banks New Checkout Experience to Reclaim Pay Later...
Financial institutions (FIs) looking to get a piece of the action in the buy now, pay later (BNPL) space might be wise to investigate their timing. As FIs have struggled...
May 10, 2024
Earnings Deluge Helps Send FinTech IPO Index 4% Higher
Earnings were everywhere this past week, driving the FinTech IPO Index 4% higher through a volatile week of trading. Buy Now, Pay Later Momentum Sezzle shares soared 52%. The company’s...
May 09, 2024
AP Automation and Virtual Cards Shine This Week in B2B
The B2B landscape is responsible for around $125 trillion of annual money movement. And those B2B payments are working overtime in the background to power much of the world’s economy. But...
May 09, 2024
CFPB’s Credit Card Late Fee Rule Could Create Buy Now,...
The laws of physics dictate that for every action, there is a reaction. As Tuesday (May 14) looms, with a new rule from the Consumer Financial Protection Bureau (CFPB) slated to take effect that...
As Americans increasingly rely on BNPL for essentials, November is poised for record spending via this payment method, with 1 in 5 consumers planning to use it. The latest “FinTech Tracker®,” a collaboration with Sezzle, examines the economic forces driving this upswing, BNPL’s shift from optional to necessary spending, and the mounting calls from critics for stronger regulations and safeguards.
Split-payment plans like BNPL are gaining traction, with 3 in 5 shoppers having used these options in the last year. There’s a “but” — merchants and acquirers aren’t sure which plans have the most appeal to consumers or when to present them in the purchase flow. PYMNTS Intelligence’s latest report, “Divided, Not Conquered: Acquirer and Merchant Confusion Clouds Split-Payments Landscape,” a collaboration with Splitit, draws from multiple surveys of consumers and executives to get a 360-degree view of the split-payment space — the facts and the gaps.