Split-payment or installment plans such as buy now, pay later (BNPL) enable consumers to shop more strategically, buying items one day and paying for them with a set schedule of payments over time to better manage their budgets. According to PYMNTS Intelligence’s “Divided, Not Conquered:...
Colin Mellon, chief commercial officer at Splitit, told PYMNTS that installment plans, when linked to traditional card-based payments, can offer benefits throughout the commerce ecosystem. But making inroads and competing against buy now, pay later options, he said, requires a wider embrace from acquirers — plugging...
Acquirers — the financial institutions that provide the infrastructure for merchants and businesses to accept card payments — operate behind the scenes but can play a pivotal role in enhancing customer experience. Yet, as PYMNTS Intelligence found in compiling its study, “Acquirers’ Navigation of an...
Among consumers who pay in installments, PYMNTS Intelligence finds, young shoppers are disproportionately ready to use these options to pay for their groceries. By the Numbers The September 2023 report “Installment Plans Becoming a Key Part of Shopper’s Toolkit,” a PYMNTS Intelligence study done in...
May 16, 2024
Pay later plans have gained value since they offer consumers flexibility and better spend management. PYMNTS Intelligence reveals consumers’ preferences for these plans, particularly around buy now, pay later (BNPL) options. For example, Generation Z has kept a steady use rate for pay later plans in the past six months. This counterbalances a slight dip […]
March 20, 2024
Colin Mellon, chief commercial officer at Splitit, told PYMNTS that installment plans, when linked to traditional card-based payments, can offer benefits throughout the commerce ecosystem. But making inroads and competing against...
March 08, 2024
Acquirers — the financial institutions that provide the infrastructure for merchants and businesses to accept card payments — operate behind the scenes but can play a pivotal role in enhancing...
February 01, 2024
Consumers have developed an appetite for split-payment plans of all sorts. Also known as installment payment plans, these break up purchases into smaller, scheduled payments over time. Though the concept...
January 02, 2024
Nearly a quarter of British buy now, pay later (BNPL) users have been charged late fees. These fees for late repayments hit younger consumers the hardest, the Financial Times (FT) reported Tuesday (Jan. 2), citing data from the nonprofit Centre for Financial Capability (CFC), showing that 22% of BNPL users had missed one or more repayments in the […]
November 14, 2023
Buy now, pay later (BNPL) company Affirm expects an increase in demand for its short-term consumer loans if interest rates remain high for an extended period. Affirm’s product is perceived differently by...
November 09, 2023
Buy now, pay later (BNPL) company Affirm continues to see demand from investors, reportedly defying earlier concerns about rising interest rates affecting all BNPL lenders. Unlike traditional banks, BNPL providers rely on...
October 10, 2023
Accounting for nearly 20% of annual retail sales, the holiday season, which spans November and December, is a critical period for both merchants and consumers. For consumers, installment plans, including...
