Payments News

On The Web

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Regulation

UK Watchdog Bans Klarna Covid Shopping Advert

“The UK’s advertising watchdog has banned an Instagram influencer campaign by Klarna for “irresponsibly” encouraging customers to use the “buy now, pay later” service to cheer themselves up during the pandemic. The Swedish firm has taken online shopping by storm over the past couple of years and its model, which allows staggered payments for products […]
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Use

‘Buy Now Pay Later’ Is Having a Moment As Pandemic Changes Shopping Habits

“Australia’s largest tech company by market capitalization—about $13.5 billion—Afterpay is expanding across the U.S. through deals with retailers including Anthropologie and Free People. Since the Australian market bottomed on March 23, its stock has risen more than ninefold, while 1.6 million new U.S. users started spending through its technology over the past four months.  Afterpay […]
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Use

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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Use

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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Use

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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Use

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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On The Wires

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Use

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 […]
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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. […]