“Visa is to launch its Visa Installments payments service in Canada, enabling consumers to choose to pay for purchases made using their credit card in smaller instalments over a specified period of time.”

“Splitit (ASX: SPT), the company empowering consumers to use their existing credit to spread payments over time, announced a partnership with tabby, the leading Middle East Buy Now Pay Later (BNPL) provider. tabby will integrate Splitit’s installment payment platform through a white-label solution to allow tabby’s merchants to offer installments on credit cards. The integration of Splitit will also allow tabby to expand its offering to new merchant categories and those with higher average order values.”

“Afterpay (ASX:APT), the leader in “Buy Now, Pay Later” payments, today announced that it’s making its service available to select app customers at the most popular and largest merchants in the United States, including Amazon, CVS, Dell, Kroger, Macy’s, Nike, Nordstrom, Nordstrom Rack, Sephora, Target, Victoria’s Secret, Walgreens and Yeti. These merchants represent almost half of all U.S. ecommerce volume. Available only through the Afterpay app, select customers can shop at merchants by simply choosing their favorite brand in the Afterpay Shop Directory and paying with Afterpay. Customers enjoy all the same benefits of using Afterpay, including the ability to pay over time without having to pay interest or finance charges.”

“Sezzle Inc. (ASX: SZL) ( Sezzle or Company) // – Sezzle , a leader in the Buy Now, Pay Later industry, is pleased to announce its partnership with Gridiron––providing the fastest growing youth football league in the US with their innovative digital payment solution. Sezzle’s “BNPL” online payment option is growing in popularity, as millions of shoppers opt for the convenience of paying in four easy installments, over six weeks, with zero interest.”

“While Affirm, Afterpay, and Klarna seek out customer loyalty, banks like Barclays are offering merchants their own versions of buy now, pay later.”

“New Zealand-based buy now pay later (BNPL) provider, Laybuy, has launched a digital card in the UK, allowing customers to purchase in-store using its service via their smartphones. This will allow retailers to provide Laybuy’s pay in six instalments offering. Customers need to load the card into their smartphone’s wallet. They can then use it to buy goods and services with Laybuy in the same way they would if they were making a contactless payment using a physical card, or another payment card on their smartphone’s digital wallet.”

“Klarna, a leading global retail bank, payments, and shopping service, today announced the launch of their new Comparison Shopping Service (CSS) in 21 markets. Klarna CSS offers Klarna’s partner retailers across Europe an increased customer reach and budget savings to boost their return on advertising spend and drive traffic from high shopping intent consumers. In addition, the Klarna comparison shopping page will provide new opportunities for brands to reach browsing consumers with their products.”

“BNPL keeps getting more popular. In July 2020, 37.65% of US adults had used a BNPL service—by March 2021, that figure shot up to 55.8%, per The Motley Fool, indicating a substantial rise in consumer demand and adoption. And that momentum will likely continue: More than 50% of consumers who haven’t used a BNPL service are at least somewhat likely to use it in the next year, according to The Fool. Affirm’s and Klarna’s recent moves should help them capitalize on growing BNPL popularity as they bring their solutions to more customers.”

“Splitit (ASX:SPT), the company empowering consumers to use their existing line of credit to pay in installments, announced a partnership with ChargeAfter , the leading global network of personalized buy now pay later (BNPL) and point-of-sale financing for merchants, adding Splitit to complement its existing portfolio of consumer financing offerings. Splitit will be the first financing-free installment payment option available on the platform.”

“Today, we are taking a big step forward to expand the reach of our mission by making Shop Pay Installments, exclusively powered by Affirm, available to all eligible Shopify merchants in the United States.  We are thrilled to support these hundreds of thousands of unique merchants by providing access to unparalleled technology that can help grow their businesses. One in four merchants that used Shop Pay Installments during its early access saw 50% higher average order volume compared to other payment methods.  Shop Pay Installments doesn’t just enable merchants to provide buyers with a more flexible and transparent way to pay, but it also provides unparalleled speed and ease of integration. Unlike other buy now, pay later solutions, Shop Pay Installments avoids sending buyers offsite to complete their purchase. Merchants saw 28% fewer abandoned carts through Shop Pay Installments after switching from a third-party buy now, pay later solution.”

“A customer of Australian buy now, pay later (BNPL) giant Afterpay has filed a class action lawsuit against the firm in the US over allegedly deceptive marketing practices. The class action seeks damages for all affected Afterpay users The complaint is filed with the Northern Californian District Court, dated 26 May. It claims Afterpay customers are “deceived” into using the firm’s BNPL services via “misrepresentations and omissions” in its marketing material. The complaint says Afterpay specifically targets young and poor consumers, adding “those struggling to makes ends meet” are its core constituency.”

“Klarna, the leading global banking, payments and shopping service, has today launched its Shopping app, empowering users to Pay in 3 in any online shop directly through the Klarna app, without ever paying more than the price of the product. Klarna’s in-app shopping experience now covers the whole retail journey, from inspiration and discovery right through to purchase and return management. This new Shopping feature allows UK Klarna users to shop at any online retailer, regardless of whether they’re partnered with Klarna or not, and split the payment into three interest-free instalments – eliminating the need to use a credit card.”

“Sezzle Inc. said it has entered into a three-year agreement with Target Corp. for the U.S. retail giant to offer consumers its installment payment product in-store and online. Sezzle on Thursday said the agreement followed the conclusion of a proof-of-concept of the interest-free payment plans with its fellow Minnesota-based firm. Target last month reported 1Q earnings of US$2.1 billion, compared with US$284 million a year ago. Total revenue rose 23% to US$24.2 billion.”

“BJ’s Wholesale Club (NYSE: BJ), a leading operator of membership warehouse clubs in the Eastern United States, announced today that it now offers Citizens Pay , a flexible, buy-now-pay-later payment option that allows members to finance purchases over $99. The new payment option is available for purchases made on BJs.com for delivery and with buy online, pick up in-club and curbside pickup.”

“Levertov and his business partners created Westwood-based Sunbit Inc., a buy now, pay later company that offers immediate approval for shoppers in need of quick funds for things such as dentist visits and car repairs…Sunbit offers instant funds ranging from $60 to $8,000. Around 90% of people who apply for funds get approved, and the amount they receive is based on a soft credit check that takes less than a minute, Levertov said.”

“Global buy now, pay later volume is expected to double by 2025, according to a new 81-page TSG report. The U.K., Australia, Asia and Middle East have had the most rapid growth, while U.S. adoption had been relatively slow until now. Trent says a big reason for the slowness in the U.S. is because credit cards are so popular here. “People have had a lot of time to develop their preferences around payment methods,” she says. “So when buy now, pay later first came onto the scene, it was viewed a little bit like digital wallets — there was no huge need that it filled.” All that changed with the pandemic, however, the analyst states. People started to look for more flexible payment methods. And then, over the 2020 holiday season, things really started to take off. To put some figures on it, the TSG survey of more than 1,500 U.S. consumers in February 2021 found that nearly two in five (39%) had used a buy now, pay later service.”

“Certegy , a leading ACH payments and risk management company, today announced the expansion of its Buy Now, Pay Later (BNPL) solution with the launch of a white label BNPL offering. Certegy clients can leverage new APIs and developer tools to deploy their own merchant-branded BNPL option to accept multiple payments, over time, for a single purchase, increasing their revenue per transaction. The white label BNPL solution, targeted at mid-market and enterprise clients, leverages Certegy’s BankPay payment technology platform. Powered by best-in-class verification and risk management, the payment platform processes over $2 billion in ACH transactions annually, representing a significant savings to merchants compared to credit or debit transactions.”

“Europe’s most valuable startup, Klarna Bank AB , said its decision on whether to move ahead with a blockbuster listing in London hinges on the U.K. government’s post-Brexit financial services regulation. The Swedish payments company’s Chief Executive Officer Sebastian Siemiatkowski hopes the British government “follows the lead of Singapore” in easing the burden of red tape on the industry. He wants rules that allow customers to “shift banks in the click of a button.””

“Ally Lending , the personal lending arm of Ally Bank, a subsidiary of Ally Financial Inc. (NYSE: ALLY ), now offers its financing on retail payments platform Sezzle . The first integration of its type for Sezzle – select shoppers can now choose to pay over time using Ally’s longer-term, fixed-rate installment loans or Sezzle’s buy-now-pay-later, installment offerings. Ally’s financing extends to purchases up to $40,000 with 3-60-month terms…Ally Lending is available for purchases in categories such as home furnishings, jewelry and sporting goods. Shoppers using the Sezzle platform, which serves thousands of retailers, will see “financed by Ally” during checkout when an installment payment plan is available from Ally Lending.”

“American Express is diving further into installment lending, launching a new option for credit card customers to pay for flights in monthly chunks through its travel platform. Customers are now able to use Amex’s “Plan It” feature — which lets customers set up installment plans for card purchases above $100 — for any flights they book on the American Express Travel website. That essentially moves the Plan It feature up directly to the point of sale, rather than requiring customers to log into their Amex accounts and switch a prior card purchase to an installment plan after the fact.”

“Small business owners in Canada using the popular Clover® platform from Fiserv, a leading global provider of payments and financial services technology solutions, now have the option to offer PayBright’s buy now, pay later (BNPL) plans at checkout. Merchants that use Clover can easily enable PayBright’s solutions by downloading the PayBright app available in the Clover App Market. This allows merchants to offer their customers flexible biweekly or monthly installment payment options that better suit their budgets. Merchants that offer PayBright typically see immediate business results including increased sales, larger average order values (AOV), and growth in repeat business.”

“Klarna, the buy now pay later fintech, saw its customer base grow faster than any of its European and US rivals last year — putting the company in a strong position ahead of a rumoured public listing. The Swedish fintech recorded 8m mobile downloads in Europe alone last year, while its closest rival Clearpay got just shy of 1m, according to data from Apptopia. Klarna also topped the leaderboard in the US in 2020, raking up a further 8.5m downloads after years of struggling stateside. Mobile app downloads* offer a good proxy for customer adoption in the buy now pay later (BNPL) space, which allows shoppers to defer payments on goods at no cost.”