How the BNPL Model is Transforming Merchant Payments
Buy-Now, Pay-Later (BNPL) is the fastest-growing payment option for e-commerce. The idea of BNPL is to enable merchants to buy on credit and pay back later at their leisure. Although it has its origins in credit cards, it is considered to have far more potential in the industry. In fact, customer acquisition for BNPL services surged by 162% between 2018 and 2019 alone. Most merchants are now realizing the need for BNPL platforms because of the immense benefits they can offer. Moreover, BNPL is also redefining the consumer journey by effortlessly integrating as a checkout option into....
Related News
Afterpay told the Australian Senate that using crypto could cut payments costs for merchants, and that the government should work to create a framework for an AUD-backed stablecoin. Australian buy now pay later (BNPL) firm Afterpay believes that local merchants can slash payment costs by utilizing cryptocurrencies. In a submission to the Senate inquiry into “Australia as a Technology and Financial Center”, Afterpay stated that the use of blockchain-based transactions would cut the fees associated with traditional payment methods including card issuer, network operator and banking fees:....
Aussie "buy now, pay later" fintech found that BNPL users are 67% more likely to trade crypto than non-users. Australian "buy now, pay later" (BNPL) firm Zip, the smaller rival to Square’s recently-acquired Afterpay, is hitching its future growth prospects to the cryptocurrency industry.Zip USA CEO Brad Lindenberg told attendees at the company's first retail investor day that “The innovation around crypto feels like the internet did in 1995.” The company’s interest in crypto has previously been hinted at and is now materializing into concrete plans. A project integrates crypto trading....
Square will acquire Australian fintech firm Afterpay in a $29 billion stock deal, expecting to close the transaction in Q1 2022. Jack Dorsey’s cryptocurrency-friendly digital payments firm Square is expanding competition with global payment giants like PayPal by acquiring a major Australian lending company.Square announced Sunday that the firm has entered into a scheme implementation deed to acquire all of the issued shares in fintech company Afterpay in a $29 billion deal. The transaction is based on the closing price of the Square common share and is expected to be paid in all stock in....
Bitcoin merchant processor BIPS announced several upgrades to its business this week, including a new relationship with Germany-based Fidor Bank and an integration of the bitcoin payments protocol. Working with Fidor Bank enables the company to offer free Single Euro Payments Area (SEPA) bank settlements to its merchant customer base. According to BIPS, this option was originally available to its customers in Denmark, though the company is focusing on the entire European market. BIPS CEO Hans Heming said the association with Fidor is aimed at offering cheaper bitcoin payments processing to....
California-based online payment processor PayStand has launched out of private beta to provide US-based websites and mobile applications another way to accept payments such e-checks, credit cards and bitcoin. With the announcement, PayStand also revealed $1m in new investment as part of its initial seed-funding round. Founded in 2009, PayStand aims to be a multi-payment gateway that eliminates merchant transaction fees, in part by supporting digital currency acceptance. Said PayStand in its official announcement: "PayStand is the first and only payments service to easily allow bitcoin and....