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.
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.
Credit Cards 
129
129 
American Express adds BNPL twist to credit card bills
Finextra
FEBRUARY 27, 2024
American Express has launched ‘Plan It’ – a new offering for the UK market that allows credit card holders to pay off purchases on their statement, or a portion of their monthly bill, in instalments.
Credit Cards 122
122 
CFPB rules that BNPL lenders should be treated as credit cards
Finextra
MAY 22, 2024
The US Consumer Financial Protection Bureau has ruled that buy now, pay later lenders should be treated in the same way as credit cards.
Credit Cards 122
122 
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.
BNPL 190
190 
CFPB to treat BNPL loans like credit cards
Payments Dive
MAY 21, 2024
“Whether a shopper swipes a credit card or uses Buy Now, Pay Later, they are entitled to important consumer protections under longstanding laws and regulations,” CFPB Director Rohit Chopra said.
CFPB 97
97 
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.
BNPL 131
131 
BNPL use may rise this year for holiday shopping
Payments Dive
NOVEMBER 27, 2024
With credit card interest rates at a historic high, consumers are likely to gravitate to lower-cost alternatives, including potentially buy now, pay later options, industry consultants say.
BNPL 147
147 
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.
BNPL 128
128 
Global Technology Powerhouse, Lenovo, Bets Big on BNPL with Klarna
Fintech Finance
NOVEMBER 22, 2024
Klarna offers a fairer alternative to credit cards with strong guardrails which enable responsible spending. 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.
BNPL 96
96 
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.
BNPL 97
97 
ZORRZ Selects CLOWD9 to Drive Financial Inclusivity Through Innovative Virtual Credit Card
Fintech Finance
JUNE 18, 2024
ZORRZ , the pioneering fintech driving financial inclusivity, has announced its strategic partnership with CLOWD9 , a B-Corp certified processing platform, to power its innovative BlueAccess Hybrid Credit Card platform. We are thrilled to collaborate with a partner dedicated to driving change and making credit accessible to all.”
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.
BNPL 98
98 
Cape Debuts 'Recession Fighting' Credit Card
PYMNTS
SEPTEMBER 20, 2020
Cape , a new Australian FinTech made up of professionals in finance, is debuting its new “recession fighting” credit card, powered by open banking and intended to allow access to new functions like buy now, pay later (BNPL), according to a report from AltFi. Common plans offer four-installment payments as ways to buy items.
Credit Cards 101
101 
US Consumer Watchdog Decision Offers BNPL Users Credit Card-Level Protections
The Fintech Times
MAY 22, 2024
The Consumer Financial Protection Bureau (CFPB), a US government agency responsible for protecting consumers in the financial sector, has ruled that buy now, pay later (BNPL) lenders must treat consumers as credit card providers do, ensuring they receive the same key protections. Will BNPL increase the consumer debt burden?
BNPL 64
64 
BNPL Is Poised To Light Up The COVID Holidays With Affordability
PYMNTS
DECEMBER 15, 2020
It’s hard to say which is the best part of buy now, pay later (BNPL). Debatably the most impactful payments innovation of recent years — and that’s saying something — BNPL is having a massive impact on retail, as evidenced by the proliferation of brands and the steady flow of venture capital to players that are defining the space.
BNPL 102
102 
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.
BNPL 98
98 
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.
BNPL 107
107 
Despite Popularity, BNPL Will Not Overtake or Replace Credit Cards
The Fintech Times
FEBRUARY 13, 2024
Having debunked some of the biggest myths surrounding buy now pay later (BNPL), we now turn our focus on the technology’s potential. We reached out to the industry and asked if it believed BNPL could overtake credit card usage as new technologies rise in popularity.
Credit Cards 59
59 
The Transformative Power of Cards-as-a-Service in Revitalising Credit Cards
Fintech News
JUNE 12, 2024
In the rapidly evolving digital landscape, traditional credit cards face the challenge of staying relevant amidst the rise of digital wallets and changing consumer expectations. The emergence of Cards-as-a-Service (CaaS) offers a transformative solution that can help credit cards adapt and thrive in this new era.
Credit Cards 109
109 
Consumers tap BNPL for larger purchases
Payments Dive
SEPTEMBER 30, 2022
buy now-pay later use has climbed since last year, also points to consumers acquiring more credit cards. Marqeta's report, which showed U.S.
BNPL 139
139 
How 'buy now, pay later' became a coronavirus counter to credit cards
Payments Source
AUGUST 20, 2020
The COVID-19 pandemic has teed up a growth opportunity for the buy now, pay later (BNPL) financial industry, as recession worries made people receptive to entering short-term payment plans that can fit in a budget.
Credit Cards 122
122 
Mastercard, TSYS partner in buy now, pay later deal to take on Afterpay, PayPal and Klarna
Payments Source
SEPTEMBER 2, 2020
There is a war brewing in the buy now, pay later (BNPL) market, and Mastercard is working with TSYS to bring in a slew of new players — credit card firms.
Visa 146
146 
Nearly half of Gen Z, millennials to tap BNPL for holiday shopping
Payments Dive
OCTOBER 12, 2022
That buy now-pay later outlook emerged from a new Bluedot survey that also showed 43% of consumers are likely to open a new store credit card during the yearend shopping period.
BNPL 158
158 
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?
BNPL 97
97 
BNPL in Credit Reports: How Could This Data Impact FICO Scores?
FICO
APRIL 28, 2022
Buy Now, Pay Later (BNPL) plans allow shoppers to make purchases and pay for them in installments over a defined period. As BNPL loans become a more commonplace form of credit used by consumers, these loans could also become an important factor in consumer credit reports, and by extension, in the FICO ® Scores based on those credit reports.
BNPL 98
98 
NAB, Commonwealth Bank launch no interest cards to counter POS credit trend
Payments Source
SEPTEMBER 10, 2020
As no-cost buy now, pay later (BNPL) financing options apply pressure on traditional issuers, NAB and Commonwealth Bank of Australia (CBA) are rolling out no-interest credit cards.
BNPL 149
149 
Weave teams with Sunbit for healthcare BNPL
Payments Dive
MAY 26, 2022
With Sunbit, Weave can now add BNPL to its other services that help small businesses collect customers’ payments, including text to pay, digital wallets, wireless terminals and credit-card on file.
BNPL 88
88 
New rule makes BNPL sustainable in long term, experts say
Bank Automation
JUNE 4, 2024
The new Consumer Financial Protection Bureau rule putting buy now, pay later providers in the same category as credit card issuers can fuel the industry’s growth, experts say. The rule, published May 22 to take effect 60 days later, “makes the model more sustainable because [BNPL] has been around for a long time, it has […]
BNPL 80
80 
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?
BNPL 105
105 
US moves to regulate BNPL the same as credit cards
Neopay
MAY 28, 2024
It states that BNPL (buy now, pay later) companies must provide the same protections for consumers as conventional credit card companies, including investigating disputes, providing periodic billing statements and refunding returned products or voided transactions. That’s not to say there hasn’t been pushback.
BNPL 52
52 
Mastercard, TSYS partner in buy now, pay later deal
Payments Source
SEPTEMBER 2, 2020
There is a war brewing in the buy now, pay later (BNPL) market, and Mastercard is working with TSYS to bring in a slew of new players — credit card firms.
Visa 129
129 
Gen Z’s impact on credit is bigger than you may think
Tearsheet
FEBRUARY 20, 2024
Digitally-Native and Debt-Adverse More so than their parents and previous generations, Gen Zers are regularly paying their credit card bills and carrying less debt. According to Marqeta’s 2023 State of Payments report , Gen Z consumers are more careful than older generations about how often they use credit cards.
BNPL 121
121 
How Are BNPL Providers Overcoming Industry Myths to Ensure Success?
The Fintech Times
FEBRUARY 7, 2024
Now, The Fintech Times turns its attention to the perception of BNPL and, more specifically, the various myths surrounding the space and how providers are busting them. “One myth which has been busted in the past few years is that users of BNPL pose a high credit risk. However, this assumption isn’t accurate.
BNPL 89
89 
A Merchant Guide For Buy-Now-Pay-Later (BNPL) Payments
Clearly Payments
FEBRUARY 3, 2024
One solution that has gained traction is Buy-Now-Pay-Later (BNPL). BNPL services allow consumers to make purchases and defer payment, often breaking it down into smaller, more manageable installments. How BNPL Works for Merchants BNPL services enable consumers to make purchases without paying the full amount upfront.
BNPL 79
79 
Alliance Data buying installment lender Bread for $450m
Payments Source
OCTOBER 29, 2020
Alliance Data has agreed to purchase point of sale installment lender Bread in a $450 million deal with plans to make Bread’s buy now, pay later (BNPL) options available to credit card-issuing merchant clients.
BNPL 122
122 
Capital One Halts BNPL Transactions On Its Cards
PYMNTS
DECEMBER 7, 2020
Capital One Financial Corp (CapOne) is putting a stop to buy now, pay later (BNPL) transactions on its credit cards, calling the dealings “risky,” Reuters reported on Monday (Dec. The news outlet noted it is the first lender to distance itself from BNPL as a financing alternative.
BNPL 73
73 
Deep Dive: Pandemic-Related Budget Concerns Push BNPL Growth
PYMNTS
MAY 21, 2020
These individuals are in no mood for transactions that would add to their existing bills, meaning credit card fees and interest are factors when they shop for goods and services — and sometimes tip them toward abandoning their carts entirely. BNPL provider Afterpay stated it saw $1 billion in U.S. Adding Financial Security .
BNPL 81
81 
Skipify and Mastercard to bring flexible payment options to shoppers with new installments product
The Payments Association
DECEMBER 16, 2024
Eligible cardholders and Mastercard users can access instalment options for any eligible credit card, making purchases easier and more flexible than ever. Integrating BNPL services, however, often presents significant challenges. 1 As always, consumer trust plays a major role in adoption.
Visa 88
88 
Industry Voices That “BNPL Is Definitely Not a Dying Trend” as Hype Remains
The Fintech Times
FEBRUARY 15, 2024
Buy now pay later (BNPL) has certainly taken the paytech world by storm. We previously discussed if the technology would be able to surpass credit cards due to its popularity. This can only be done if the BNPL hype remains – but is it already over? We reached out to the industry to find out. Hype is not over.
BNPL 75
75 
Today In Payments: US Consumers Pay Down $10B In Credit Card Debt In Q3; Amazon Takes On Pharmacies
PYMNTS
NOVEMBER 18, 2020
consumers paid off $10 billion in credit card debt in the third quarter of 2020, and Amazon Pharmacy launched for consumers to order prescription medications. US Consumers Pay Down $10B in Credit Card Debt In Q3. In today’s top news, U.S. On the other hand, overall consumer debt hit $14.35 Amazon Takes on Pharmacies.
Credit Cards 91
91 
Galileo Expands BNPL Offering to Help Banks and Fintechs ‘Deepen Customer Relationships’
The Fintech Times
MARCH 21, 2024
Galileo Financial Technologies , a fintech firm owned by SoFi Technologies , is expanding its Buy Now, Pay Later (BNPL) offering that enables banks and fintechs to offer cardholders new post-purchase instalment payment options via their existing debit or credit card account.
BNPL 69
69 
Five Key Takeaways From PYMNTS’ BNPL Study
PYMNTS
DECEMBER 10, 2020
Buy now, pay later ( BNPL ) may not be the most used payment option this holiday season, but it’s definitely the fastest-growing and most talked about, as consumers young and old are increasingly turning to the zero-interest or low-cost installment plans to spread out the cost of their purchases. BNPL Is Not a Last Resort.
BNPL 69
69 
NatWest Plans to Shut Down BNPL Offering; Why Are So Many Firms Taking a Step Back From BNPL?
The Fintech Times
MARCH 9, 2024
Around 2020, buy now, pay later (BNPL) solutions exploded in popularity, as an increasing number of shoppers across the globe turned to online shopping during a pandemic that caused a significant amount of financial uncertainty. It might not just be uncertainty that is impacting BNPL’s success.
BNPL 72
72 
Let's personalize your content