PYMNTS.com has an in-depth analysis of BNPL power moves in the payments industry. This report is recommended reading for valuable strategic insight and trends for industry leaders to consider. Two new BNPL research reports are out; the first shows that 34% of UK Gen Z use BNPL monthly, according to Pay.UK. UK Finance also reports a boom in use of BNPL by pensioners feeling the impact of the rising cost-of-living.
Episode 6 launched a new platform to help banks serve SMEs better by including BNPL payment options. The Motley Fool examines why Sezzle shares jumped as trading resumed on NASDAQ and Australia’s ASX. Visa and NEOPAY launched a new BNPL service in the UAE. The US Consumer Financial Protection Bureau (CFPB) advises students to be cautious using BNPL loans for education, where payment failure may result in withholding transcripts and credit score impact.
BNPL’s gambit: Power moves in the payments arena
Whether repositioning on stock exchanges or delisting for a fiscal edge, these strategic decisions speak to the industry’s renewed bigger-picture outlooks: the pursuit of growth, innovation and financial optimization. BNPL firms continue to defy traditional installment models radically — and consumers are reaping the benefits. This is financial empowerment — in a shopping cart. E-commerce is up against two existential challenges: the abandoned cart and financial volatility, and BNPL leaders are rolling out intuitive widgets for businesses and leveraging AI to mitigate risk. E-commerce metamorphosis is firmly underway. PYMNTS
This beaten-down ASX BNPL share is up 35% in 2 days. Here’s why
ASX BNPL Sezzle Inc rocketed higher again today. Shares in the BNPL stock closed up 12.8% on Thursday, finishing at $18.10. At the time of writing in afternoon trade on Friday, Sezzle shares traded for $21.72 apiece, up 20%. This sees the ASX BNPL share up a whopping 35.3% since Wednesday’s closing bell. The stock resumed trading on Nasdaq under the ticker Nasdaq: SEZL. Sezzle will also continue to trade on the ASX under its existing ticker. The Motley Fool
Over a third of Gen Z use BNPL schemes once a month
Pay.UK research reveals that BNPL plays a role in spending habits for this age group, with just over a third (34%) using BNPL schemes at least once a month. Buying clothes online (32%), large purchases such as electronics (32%), and birthday or Christmas gifts (20%) came in as the most popular BNPL purchases. However, one in five (20%) use BNPL when waiting for payday, while 12% use BNPL for physical food shops and 10% for takeaways. Finextra
Buy now pay later booms for pensioners
The percentage of pensioners using BNPL services, UK Finance’s latest Payment Markets Report found, doubled in 2022 compared to the previous year. “The appeal of BNPL has broadened. Interestingly, the percentage of pensioners using BNPL services doubled in 2022 compared to the previous year. This suggests pensioners feeling the cost-of-living pinch have turned to BNPL services to cover costs,” Myron Jobson, senior personal finance analyst, at Interactive Investor said. AltFi
Episode Six launches BNPL to help banks better serve SMEs
E6 says that banks can now accelerate growth with a unique installment solution tailored to SMEs without disrupting their current banking technology stacks. E6 says that the launch represents a first-of-its-kind solution. Specifically, E6 will enable commercial banks to capture new revenue streams by meeting the working capital needs of SMEs. A 2022 Gemini report says existing banks underserve SMEs, and 89% are considering changing banks. Electronic Payments International
Sileon expands product line and opens a Trial Account for self-onboarding
Sileon expands its product line and offers a Trial Account for potential customers wanting hands-on experience using Sileon’s card-based BNPL SaaS Platform. Once qualified for a Trial Account, users can explore all features of Sileon’s BNPL SaaS Platform and get an overview of the integration and transaction patterns. Users can try the product for 14 days. Stockholm-based Sileon offers BNPL SaaS functionality to banks, card issuers and fintechs. Market Screener
Visa and NEOPAY partner on installment payments in UAE
Visa and NEOPAY launched an installment payment solution to help consumers pay for their retail transactions. Consumers with credit cards can split purchases into monthly installments, making larger purchases more affordable. A recent survey by Euromonitor in the UAE highlighted that 48% of consumers find installments make high prices more manageable, while 37% believe installments offer help with unexpected expenses and 44% see installments as more flexible than other payment options. Zawya
Should you buy education in installments? Beware of risks, CFPB says
Many colleges now offer “tuition payment plans” as an interest-free alternative to student loans, but they come with many risks for students, the Consumer Financial Protection Bureau says. Some colleges will withhold transcripts, cut off meal plans, or kick people out of classes if they fall behind on payments. Like similar buy-now-pay-later plans, tuition repayment plans can carry heavy fees for late and missed payments. Investopedia