The ability to provide virtual card payments for BNPL transactions has opened a new opportunity for card account processors. Increasingly, online and in-store retailers feel compelled to provide their customers with real-time credit decisioning so they can deliver instant approval for a BNPL transaction at the time of purchase, even when they’ve had no prior relationship with the consumer.
Buy now, pay later (BNPL) specialist Affirm is actively promoting a Visa branded debit card to its existing 16 million account holders. The Affirm Card, which is connected to the Affirm app, can be used to initiate BNPL loans at all 15 million in-store and online merchant acceptance locations in the Visa network in the […]
Since January 2022 there have been 39 transactions in the buy now, pay later (BNPL) industry in 20 countries. Among those transactions, 35 were investments or credit facility deals and 4 were acquisitions. The acquisitions were: UK-based Zopa Bank acquired UK-based BNPL provider DivideBuy, Japan-based MUFG Bank acquired 70% of Japan-based BNPL provider Kanmu, FinAccel […]
There were 700 transactions in card payments and related fields in 2022. There were 382 transactions in the first half of the year and 318 in the second half. Those deals occurred in 68 countries.
Over the last decade, dozens of buy now, pay later (BNPL) specialists worldwide have focused on signing merchants as distribution channels for their consumer lending businesses. Growth has been explosive, and BNPL fintechs attracted eager investors.
Galileo Financial Technologies, best known for open-API-based payment processing for 124 million card issuing accounts, has launched Galileo Buy Now, Pay Later in the US.
JIFITI has launched a white-label business-to-business BNPL service. The company facilitates buy now, pay later options for Tier 1 and community banks, lenders, credit unions and merchants globally through a single platform.
American users of the Apple Pay wallet will be offered a buy now, pay later (BNPL) option from Apple for purchases made in-store and online of less than $1,000 at any merchant. Users can divide the purchase amount into four equal payments, which must be tied to a debit card.
Among more than a dozen providers of buy now, pay later (BNPL) installment loans in the U.K. is DivideBuy, which recently moved its POS credit technology to the cloud prior to a planned expansion of its customer base.
Only four countries in the world have higher unbanked populations than Mexico. The country ranks eighth highest in the world when measuring what is called the “informal” economy—the percentage of a population that have jobs but do not pay federal or state taxes.