Despite significant systemic barriers, consumers classified as subprime remain active participants in the credit market, seeking both traditional products and alternative options to manage finances and improve their credit standing, according to a new PYMNTS Intelligence report. The report, “Subprime Borrowers Flock to Alternative Options...
The traditional pillars of consumer credit are undergoing a profound transformation as “pay later” options, once a niche for specific shoppers, are now redefining how Americans spend and borrow. A new PYMNTS Intelligence report, “Pay Later Revolution: Redefining the Credit Economy,” highlights this evolution, detailing...
New York state introduced legislation to provide oversight to the pay later sector. The legislation, part of Gov. Kathy Hochul’s new budget, is one of several new measures designed to bolster consumer protection, according to a Friday (May 9) press release. “This budget is all...
In its fiscal third quarter, Affirm’s gross merchandise value jumped double digits, all but one spending category showed gains, underscoring the appeal of paying over time, and 1.8 million new consumers transacted within the platform’s growing ecosystem. But guidance that implies at least some deceleration...
May 14, 2025
Despite significant systemic barriers, consumers classified as subprime remain active participants in the credit market, seeking both traditional products and alternative options to manage finances and improve their credit standing, according to a new PYMNTS Intelligence report. The report, “Subprime Borrowers Flock to Alternative Options Due to High Credit Card Denial Rate,” defines subprime consumers […]
May 13, 2025
The traditional pillars of consumer credit are undergoing a profound transformation as “pay later” options, once a niche for specific shoppers, are now redefining how Americans spend and borrow. A...
May 08, 2025
In its fiscal third quarter, Affirm’s gross merchandise value jumped double digits, all but one spending category showed gains, underscoring the appeal of paying over time, and 1.8 million new...
May 01, 2025
The “What’s Next in Payments” series exploring the dynamic service economy has focused on the evolution of payments companies as they add a range of offerings that once were the...
May 15, 2025
Klarna’s CEO is reportedly attributing a 40% reduction in staff to the company’s AI investments. Sebastian Siemiatkowski told CNBC on Wednesday (May 14) that artificial intelligence (AI) was just one factor behind the shrinking headcount, saying the Swedish pay later FinTech had also seen some natural attrition. “The truth is, the company has shrunk from about 5,000 to […]
May 12, 2025
New York state introduced legislation to provide oversight to the pay later sector. The legislation, part of Gov. Kathy Hochul’s new budget, is one of several new measures designed to...
May 08, 2025
Affirm is partnering with Costco to offer online shoppers the option to pay over time for transactions. The financial services company announced the collaboration Thursday (May 8) in a shareholder...
May 08, 2025
Pay-later firm Klarna is reportedly rethinking some of its AI-centered cost-cutting. Now, CEO Sebastian Siemiatkowski told Bloomberg News in an interview posted Thursday (May 8), the Swedish startup is undertaking a hiring effort to make sure...
