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According to money experts Finder, who polled 2,000 people across the UK at the end of January 2023, more than a third (35.5 per cent) said they have used BNPL in the last 12 months, while 42% said this was the first time they turned to it.
A day after all three co-founders of buy now pay later (BNPL) startup resigned from their positions, the company announced the elevation of existing senior employees to top roles.
Source: https://www.financialexpress.com/industry/zestmoney-elevates-senior-employees-to-top-roles/3090262/
Additionally, 27% of the BNPL users who missed a payment in August, also saw a decline in their credit scores, while 22% said they’ve recently engaged with at least one debt collection agency.
Source: https://www.pressenterprise.com/2023/10/19/struggling-with-buy-now-pay-later-youre-not-alone/
Avoiding debt is always best, of course, but if you’re going to make use of BNPL, be extra careful to read the terms and conditions first and ensure your payments are on time.
“BNPL kind of exists in its own ecosystem, other lenders don’t get visibility of what’s going on as they would in the normal credit reporting system,” he said.
Source: https://www.perthnow.com.au/business/spiralled-hidden-horrors-of-buy-now-pay-later-c-10008468
“BNPL looks like credit, it acts like credit, it carries the risks of credit.”
Medium to long term growth story of BNPL industry in remains strong.
Other major players like Block, PayPal, and Apple (NYSE:) jumped into BNPL more recently through acquisitions or new product launches.
“Plus, Block remains uniquely positioned to achieve the ‘holy grail’ of creating a one-stop-shop network by connecting the point-of-sale, Cash App and BNPL ecosystems,” added Dolev.
Source: https://www.etftrends.com/tactical-allocation-channel/bet-on-block-with-dapp/
Tabit and Lenovo have partnered to offer business-to-business (B2B) buy now, pay later (BNPL) in Canada.
That's because Affirm provides more unique value to merchants with its specialized BNPL offering.
The BNPL product is the latest in a series of new offerings from CRED in recent years as it moves to make its eponymous fintech app a bigger part of its customers’ lives.
Source: https://techcrunch.com/2023/02/26/cred-bnpl-and-tap-to-pay/
The performance of PYPL's branded checkout and BNPL businesses for 2022 and 2023 year-to-date appears to be reasonably good.
Source: https://seekingalpha.com/article/4577860-paypal-stock-buy-after-earnings?source=feed_all_articles
This decision by SAMA brings the total number of companies authorized to practice BNPL activity in the Kingdom to…
Weak margins at PayPal have brought cost-cutting measures to the forefront of conversations among investors, and analysts are also worried about the competition in the buy now, pay later (BNPL) space from technology goliath Apple.
We find that U.K. merchants go out of their way to provide customers with various digital shopping options, including click-and-collect, buy now, pay later (BNPL) options and even in-store navigation apps.
When asked if SA could see the same downward spiral experienced by global loss-making BNPL firms, he points out: “It’s hard to predict but possible.