Payments News

On The Web

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Under the Hood of CBA’s US$300m Klarna Play

“We’ll get to how the moment happened in a moment, but what Klarna’s local launch through CBA means for the Australian banking, credit, e-commerce and digital payments markets is pretty big. Bigger than it first sounded too. The launch that will send shudders not just through the CBA’s institutional peers – Westpac will not launch […]
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Buy Now, Pay Later Now Available In-Store at Major US Retailers

“Klarna, the leading global provider of buy now, pay later payment solutions for online and mobile shoppers, today announced it is enhancing its shopping service platform by launching in-store payments for US consumers. With the majority of retail transactions in the US still taking place in-store, and mobile in-store payments projected to reach $223 billion by 2023, Klarna […]
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LendUp Focuses on Underserved, Issues $2B in Loans

“Installment lender LendUp , which targets customers underserved by the credit system, has hit a milestone of $2 billion financed through the platform. It’s delivered 6.5 million loans since its inception in 2012. LendUp CEO Anu Shultes touts the platform’s ability to reach a consumer base that typically can’t access personal loans from big banks. […]
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Eye on Fintechs: Sezzle Sizzles With 1 Million Users and Curve Opens a U.S. Office

“Buy-now-pay-later specialist Sezzle Inc. said it surpassed 1 million consumers using its online payment service. Launched in 2016, Sezzle said it had reached 500,000 customers only in August 2019. At the end of the fourth quarter, the company, with corporate headquarters in Australia, said more than 10,000 merchants offer its e-commerce payment service. “One million […]
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Buy Now, Pay Later Schemes To Double Their Market Share By 2023

“A decline in the use of cash on delivery, pre-paid cards and PostPay services will also be perceived, but the influx and availability of Buy Now, Pay Later services will meet the requirements of consumers who need immediate payment options…The report also predicts that these services will earn nearly 3 percent of global ecommerce spend […]
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On The Wires

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Companies

Klarna Acquires the Italian `Buy Now, Pay Later’ Startup Moneymour

“Klarna, one of the world’s leading smooth shopping and payment providers, today announced an agreement to acquire Moneymour, an Italian payment company, from the founders and minority investors. Through the acquisition Klarna gains access to intellectual property to further improve underwriting capabilities, and additional expertise and competence, as the full Moneymour team will join Klarna. […]
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Wirecard and Klarna Launch Joint Payment Solution for Merchants

“Wirecard, the global innovation leader for digital financial technology, and Klarna, a leading global payments and shopping provider, announced today the launch of a new enhanced joint payment solution. All three Klarna shopping methods, Pay Now, Pay Later and Klarna Financing, can now be embedded into merchants’ checkout via a single integration through the Wirecard […]