Apple adds BNPL offerings from rivals
Payments Dive
JUNE 13, 2024
The tech giant will allow installment plans from Affirm, as well from certain debit and credit cards, onto Apple Pay alongside its own BNPL service.
BNPL Related Topics 
BNPL regulation could contribute to consolidation: Moody’s analysts
Payments Dive
NOVEMBER 20, 2023
Adapting to regulation could be a costly endeavor for BNPL companies already facing losses and more expensive funding costs, Moody’s analysts said.
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BNPL will evolve as providers tweak the model
Payments Dive
JULY 20, 2022
“Challengers frequently believe BNPL 1.0 is what it is, and will not evolve,” writes Brian Shniderman, CEO of Opy, a U.S. subsidiary of Australian payments fintech Openpay. “But it can, and very recently, it has proven that it will.”
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NatWest ditches BNPL
Finextra
MARCH 7, 2024
British bank NatWest is killing off its buy now, pay later (BNPL) service less than two years after launch.
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BNPL risks raise questions for Consumer Reports
Payments Dive
AUGUST 21, 2023
BNPL’s ubiquity and growing use for everyday purchases should grab regulators’ attention, said Consumer Reports’s senior policy counsel.
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BNPL Fraud On the Rise as Scammers Prey On Borrowers in Southeast Asia
Fintech News
SEPTEMBER 29, 2024
BNPL fraud in Southeast Asia is seeing a rapid rise with fraudsters exploiting weaknesses in these platforms and developing sophisticated methods to deceive users for financial gain. In these BNPL fraud schemes, borrowers in need of cash agree to use their BNPL credit to pay bills for lenders, expecting a cash transfer minus a small fee.
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The Rise and Fall of BNPL: Is the Due Date Near for ‘Pay Later’ Services?
Fintech News
MARCH 18, 2024
The global flirtation with Buy Now Pay Later (BNPL) services seems to be coming undone, as new data on consumer payments unveils a significant drop in the appetite for this contentious credit payment approach. US BNPL users declined more in 2023 than the preceding years. US BNPL users declined more in 2023 than the preceding years.
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GoTo and TikTok Set to Launch BNPL Offering
Fintech News
MARCH 20, 2024
Indonesian technology conglomerate GoTo Group is preparing to launch a “buy now, pay later” (BNPL) service in partnership with TikTok, according to Tech in Asia. This development follows GoTo Financial, the group’s financial technology division, appointing David Chen as the Head of Consumer Lending and BNPL operations.
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Chase stops customers using credit cards to make BNPL instalment payments
Finextra
JULY 17, 2024
Chase customers will soon be banned from using their credit cards to pay for third-part BNPL instalment plans.
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Bukalapak Pulls Plug on In-House BNPL Offering
Fintech News
MARCH 6, 2024
Indonesian e-commerce leader Bukalapak has phased out its buy now, pay later (BNPL) service, BukaCicilan, as of 29 February 2024. This decision reflects the broader challenges facing the BNPL sector, which has seen several service discontinuations and exits in recent times.
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BNPL Regulations: Systematic Transformation of Finance
The Fintech Times
DECEMBER 19, 2023
Buy now, pay later (BNPL) services have become significant in the realm of short-term unsecured consumer finance, often tied to specific products and offering instalment repayments, without accruing interest. The BNPL transaction involves three key players: the consumer, the merchant, and the BNPL service provider.
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BNPL Profitability Remains Elusive Despite Rising Adoption
Fintech News
DECEMBER 20, 2023
Buy now, pay later (BNPL) arrangements, a type of short-term financing that allows customers to make purchases and pay for them in monthly installments, are growing strongly around the world, picking up steam among both customers and merchants. million in 2023. million in 2023.
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Global Technology Powerhouse, Lenovo, Bets Big on BNPL with Klarna
Fintech Finance
NOVEMBER 22, 2024
By offering interest-free BNPL, Lenovo is offering its customers one of the most innovative and fastest-growing payment methods today. Worldwide BNPL spending grew by 18 percent in 2023, according to a report by Worldpay. These guardrails clearly work as 99% of lending is repaid and 40% of orders are repaid early.
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Abnk, Atome, Grab, and SeaMoney Earn Singapore BNPL Compliance Trustmark
Fintech News
APRIL 28, 2024
Abnk , Atome , Grab , and SeaMoney have been awarded the accredited Trustmark by the Singapore Fintech Association (SFA) and the Buy Now, Pay Later (BNPL) Working Group as of 19 April 2024. Introduced in October 2022, the BNPL Code of Conduct aims to mitigate risks of consumer over-indebtedness and ensure fair practices within the sector.
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Atome’s BNPL Payment Option Now Available on Taobao Singapore
Fintech News
MAY 13, 2024
Buy Now, Pay Later (BNPL) firm Atome has partnered with online shopping platform Taobao Singapore to introduce its payment option for local shoppers. The new BNPL payment feature is now available on the Taobao mobile app. Shoppers need an existing Atome account to use this payment method at checkout. Additionally, during the 6.18
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BNPL popularity rises among ‘financially fragile’ consumers
Payments Dive
FEBRUARY 15, 2024
About 60% of that group has used BNPL five or more times in the past year, compared to just over 20% of financially stable consumers, the New York Fed said.
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Afterpay adds monthly BNPL option
Payments Dive
OCTOBER 5, 2022
The Block-owned buy now-pay later provider is growing beyond its “pay in 4” plans by adding a financing option for pricier purchases.
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BNPL remains mainly absent from consumer credit histories
Payments Dive
MARCH 27, 2023
The lack of BNPL data being furnished to credit bureaus more than a year after inclusion efforts were announced points to the complexity involved with fitting the burgeoning payment method into the traditional credit scoring framework.
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NY governor pursues BNPL regulation
Payments Dive
JANUARY 3, 2024
New York Gov. Kathy Hochul is seeking to require buy now, pay later providers to obtain a license to operate in the state, in addition to other potential regulations for the industry.
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Google Pay taps Affirm, Zip for BNPL
Payments Dive
DECEMBER 13, 2023
The tech giant has linked with the buy now, pay later companies to develop installment payment options to be offered next year.
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OJK Lifts Ban on Akulaku’s BNPL Service in Indonesia
Fintech News
MARCH 4, 2024
Indonesia’s Financial Services Authority (OJK) has lifted restrictions on the buy now, pay later (BNPL) service offered by fintech firm Akulaku , according to a statement from the company to Tech in Asia. Established in 2014, Akulaku has a presence that extends beyond Indonesia to Malaysia, the Philippines, and Vietnam.
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Saudi Central Bank Introduces New BNPL Regulatory Framework
The Fintech Times
DECEMBER 18, 2023
Buy now, pay later (BNPL) companies across the globe continue to grow – particularly in the build-up to the festive period, as consumers look to offset their costs. Under the new rules, the BNPL activity is defined as any type of financing that enables a consumer to purchase goods or services without a term cost payable by the consumer.
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SGeBIZ and Funding Societies Team Up to Offer BNPL Payment Option for SMEs
Fintech News
APRIL 23, 2024
This collaboration aims to integrate Funding Societies’ financing capabilities into SGeBIZ’s EzyProcure platform through a “Buy Now, Pay Later” (BNPL) feature.
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Scalapay Partners with Trustfull to Strengthen BNPL Fraud Prevention Across Europe
Fintech Finance
DECEMBER 10, 2024
Trustfull , a leader in Identity Intelligence for fraud prevention, is proud to announce a strategic partnership with Scalapay , a premier European buy-now-pay-later (BNPL) provider. In 2023, the European BNPL market was valued at approximately $147.6 billion and is projected to reach $272.5 billion by 2029 ( Source ).
Zip ditches Sezzle BNPL buyout
Payments Dive
JULY 12, 2022
The Australian company will pay $11 million to Sezzle after it dropped a plan to purchase the Minneapolis-based company in the face of “macroeconomic and market conditions.”
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Affirm says CFPB’s proposed BNPL rules will confuse customers
Payments Dive
JULY 29, 2024
In commenting on the proposal, the BNPL provider said consumers would be better served by rules specific to BNPL transactions, as opposed to credit card regulations.
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ShopBack to End BNPL Service in Singapore and Malaysia by 22 March
Fintech News
MARCH 3, 2024
ShopBack, a shopping and rewards platform, revealed that it will be discontinuing its Buy Now, Pay Later (BNPL) service effective from 22 March 2024 in Singapore and Malaysia. The ShopBack PayLater service was initially launched in July 2022 in both countries following the company’s acquisition of BNPL provider hoolah in November 2021.
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Santander BNPL platform to provide installment payments for Apple customers in Germany
Finextra
JUNE 10, 2024
Santander's buy now, pay later platform Zinia has been selected by Apple in Germany to provide BNPL installment plans for consumer purchases both online and in person.
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Buy Noel, Pay Later: Use Peaking but 12 Million Brits Still Set to Use BNPL This Christmas
Fintech Finance
NOVEMBER 26, 2024
With the festive shopping season upon us, new research 1 from credit reference agency Equifax UK reveals the number of Brits using Buy Now, Pay Later (BNPL) could have peaked, but average spend continues to grow and will be key for many this Christmas. What could future regulation mean for consumers?
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Far Majority of Consumers Satisfied with BNPL and Three in Four Expect Such Loans Will Impact Their Credit Scores Positively
Fintech Finance
JULY 11, 2024
consumers have used Buy Now, Pay Later (BNPL) loans with 89% stating they are satisfied or very satisfied with the credit product. A new survey from TransUnion (NYSE: TRU) also revealed that 85% of BNPL users would recommend such loans to others. Millions of U.S. The research, conducted among 1,200 U.S.
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Gen Z Will Reach Record-High Usage of Buy Now, Pay Later (BNPL) Services This December, According to New Report
Fintech Finance
DECEMBER 11, 2024
BNPL spending next week is expected to rise beyond last year’s mid-December spike, as Gen Z heads into Christmas with higher debt levels compared to 2023. Buying on credit or using a BNPL service is most effective when making large purchases, and its not really intended to be used for smaller purchases like holiday gifts.
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Open Banking Could Become a Mainstream Payment Method in 5 Years Time Surpassing BNPL, emerchantpay Research Finds
Fintech Finance
JUNE 19, 2024
This compares to 14% saying the same for Buy Now Pay Later (BNPL) and 7% for crypto. The post Open Banking Could Become a Mainstream Payment Method in 5 Years Time Surpassing BNPL, emerchantpay Research Finds appeared first on Fintech Finance.
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Muse Finance Partners With Xero and Allianz Trade to Launch New BNPL Service, musePay
Fintech Finance
JUNE 13, 2024
Muse Finance , a leading financial technology company, is excited to announce the launch of musePay, its Buy Now, Pay Later (BNPL) integration with global small business platform, Xero. It provides them more ways to pay, as the BNPL service means they can create bespoke repayment plans that suit their business’ cashflow needs.
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Holiday shoppers spent $16.6B online using BNPL: report
Payments Dive
JANUARY 4, 2024
BNPL usage hit an all-time high during the season, with Cyber Monday as the largest day on record for the payment method, according to Adobe.
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BNPL extends to gas, groceries
Payments Dive
JUNE 1, 2022
Buy now-pay later providers have made their financing services more available for everyday purchases, offering consumers a tool to deal with inflation.
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5 Ways B2B BNPL Benefits Lenders and What Lies Road Ahead
Finezza
MAY 8, 2024
The B2B BNPL (Buy Now Pay Later) trend has quickly caught up with Indian consumers, primarily driven by the need for convenience and seamless access to credit. A barrage of BNPL startups has entered the Indian […] The post 5 Ways B2B BNPL Benefits Lenders and What Lies Road Ahead appeared first on Finezza Blog.
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Gen Z is leading adoption of new payments. Here’s how BNPL is being affected.
Tearsheet
JULY 1, 2024
Priore shares his observations on Gen Z’s adoption of newer payment methods like buy now, pay later (BNPL) for smaller purchases. BNPL and younger generations What trends are you seeing in terms of Gen Z’s preferences and adoption of solutions like buy now, pay later (BNPL) for smaller ticket purchases?
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Capchase Partners With Stripe as Their First B2B BNPL Payment Method for the US
Fintech Finance
SEPTEMBER 17, 2024
This partnership makes Capchase’s buy-now-pay-later (BNPL) solution available within Stripe. This marks Stripe’s first-ever B2B BNPL payment method offering in the U.S. The post Capchase Partners With Stripe as Their First B2B BNPL Payment Method for the US appeared first on FF News | Fintech Finance.
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New BNPL study raises concern about 'debt spiral'
Payments Dive
MARCH 10, 2022
Some consumers are charging buy now-pay later installment payments to their credit cards, and that should serve as a "warning flag" to regulators, said three economists who authored the research paper.
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Afterpay’s BNPL Now Available on Google Pay, Offering Shoppers Even More Choice and Flexibility
Fintech Finance
NOVEMBER 20, 2024
Afterpay , a leading Buy Now, Pay Later (BNPL), announced today its flexible payment functionality will be available for consumers checking out online through Google Pay at select merchants. The post Afterpay’s BNPL Now Available on Google Pay, Offering Shoppers Even More Choice and Flexibility appeared first on FF News | Fintech Finance.
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Paymob and Tamara Bring Payments Gateway Together With BNPL to Create Ecosystem for Merchants
The Fintech Times
JANUARY 9, 2024
The strategic partnership integrates the Tamara Buy Now Pay Later ( BNPL ) service with the secure Paymob gateway to power seamless payments by enabling customers to split their payments in four without any hidden fees or interest. For businesses of any size, comprehensive payment offerings ensure increased sales and conversions.
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BNPL credit reporting hangs in limbo
Payments Dive
JULY 3, 2024
The Consumer Financial Protection Bureau has long wanted buy now, pay later loans to be listed on consumer’s credit reports. So why didn’t it include that in a March rule for the industry?
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