Payments News

On The Web

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Providers

Klarna Revenues Surge During Coronavirus

“Klarna, Europe’s most-valuable private fintech, has seen its top line swell during the global lockdown, as retailers and shoppers flock online. Klarna’s commercial vice president, Luke Griffiths, told Sifted in an interview that the Swedish ‘buy now, pay later’ (BNPL) provider had profited from the disruption of recent months. “We’ve seen a positive effect overall […]
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Providers

Fintech Darling Afterpay: Buy Now, Regret at Leisure?

““Buy Now, Pay Later,” has been the recipe for success for Australian fintech company Afterpay. Investors plunking down for its stock now, however, might find themselves with buyer’s remorse later. Afterpay’s Australia-listed stock has nearly doubled this year, despite a sharp selloff earlier in the year because of the coronavirus pandemic. Its shares have been […]

On The Wires

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Deals

MUFG Innovation Partners Completes Investment in Point of Sale Financing Platform Leader ChargeAfter and Announces Strategic Partnership to Expand Global POS Usage

“ChargeAfter, the leading Multi-lender Point of Sale Financing platform, and MUFG Innovation Partners Co., Ltd. (MUIP), a corporate venture capital fund and a wholly owned subsidiary of MUFG, the leading global financial group of Japan, announced a strategic investment and partnership to equip global eCommerce and brick-and-mortar retailers with the tools they need to approve […]
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Deals

Colombian Point of Sale Financing Platform ADDI Raises $15 Million Series A Extension

“ADDI, a Bogota-based provider of point of sale (POS) financing solutions for Latin America, today announced the close of an equity financing of $15 million. The round was led by Quona Capital, a venture firm focused on fintech in emerging markets, alongside existing investors Andreessen Horowitz and Monashees, and new investors S7 Ventures, Foundation Capital […]
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Providers

Verrency Announces Pay Later Installment Lending Solution

Global payment innovation company Verrency today announced the launch of a new product feature “Pay Later” on its payment innovation API platform for banks and card issuing processors. Verrency’s “Pay Later” feature enables bank customers to instantly move any regular purchase transaction to a longer-term installment payments plan. Consumers can select to pay in multiple […]
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Companies

More Financial Freedom: SolarisBank and American Express Cooperate for Innovative Installment Product

“For the first time, members of a personal American Express Card in Germany will be able to use an installment option for card payments of EUR 300 or more. This is made possible thanks to a new cooperation with solarisBank. The technology company with a banking license has developed a new installment product “Splitpay”. This […]
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Companies

Splitit Partners With Mastercard

“Splitit Payments Ltd., a global payment solutions provider, announces that it has signed a multi-year agreement with global payments technology company, Mastercard Incorporated (NYSE:MA) (“Mastercard”) to accelerate the adoption of Splitit’s installment solution around the world. Splitit will leverage Mastercard’s network of partners to extend and scale installment functionality to consumers and merchants. It will […]
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Providers

Clearpay Reaches One Million Active Customers in First Year

“Clearpay, part of global instalments payments innovator Afterpay Limited Group, announced that there are now more than one million active2 shoppers in the U.K. using the service. Customer purchasing frequency in the U.K. is outpacing the U.S. when it was at the same stage of lifecycle, with customers transacting more than 8 times within the […]
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Companies

PayPal Launches Installments in France

“PayPal is expanding its “buy now, pay later” solutions to France, with a new installments product that will enable customers to split purchases into four equal payments over three months, nearly anywhere PayPal is offered.  Online installments are incredibly popular with French consumers: 64 percent of users would have postponed or not completed their purchase […]
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Providers

Buy Now, Pay Later Leader Sezzle Is Now a Public Benefit Corporation

“Today, Sezzle announced that it has changed its company charter, becoming a Public Benefit Corporation (PBC.) The designation enables the company to become the first PBC in the burgeoning “Buy Now, Pay Later” (BNPL) payments space. Following stockholder approval earlier this month, the company has completed the necessary filing requirements and has formally transitioned into […]