BNPL

Image Source : HTTPS://WWW.APPLE.COM Apple launches 'Pay Later’ option for online and in-app purchases Apple has introduced a new service called "Apple Pay Later" that allows customers to buy Apple products in instalments. The service offers the option to split the total cost of a product into four payments, which can be spread out over six weeks, with zero interest…

Apple on Tuesday launched its "buy now, pay later" (BNPL) service in the US, a move that threatens to disrupt the fintech sector dominated by firms like Affirm Holdings and Swedish payments company Klarna.The service, Apple Pay Later, will allow users to split purchases into four payments spread over six weeks with no interest or fees, the company said. It will initially be offered to select users, with plans of a full roll-out in the coming months.Users can get loans between $50 (roughly Rs. 4,000) and $1,000 (roughly…

Analysts and e-commerce leaders have been predicting a muted online holiday shopping season this year, with sales in the first three weeks of November essentially flat over a year ago due to a weaker economy, inflation, and more people returning to shopping in stores again in the wake of the Covid-19 pandemic. But on the face of it, the Thanksgiving long weekend appears to be more buoyant than expected — albeit growth has definitely slowed down this year after the pandemic-period boom. Black Friday broke $9 billion…

India's e-logistics sector has become one of the largest and fastest growing logistics markets globally and is all set to reach the $9 billion industry, with a compound annual growth rate of 35 per cent, a report showed.The number of e-commerce logistics shipments is expected to grow by four times in the next five years."Thanks to new-age tech enabled players who have entered India's logistics arena, it is now easier for small- and medium-sized businesses to transport goods, and there is a drastic increase in the speed…

Welcome to The Interchange! If you received this in your inbox, thank you for signing up and your vote of confidence. If you’re reading this as a post on our site, sign up here so you can receive it directly in the future. Every week, I’ll take a look at the hottest fintech news of the previous week. This will include everything from funding rounds to trends to an analysis of a particular space to hot takes on a particular company or phenomenon. There’s a lot of fintech news out there and it’s my job to stay on top…

“Buy now, pay later” (BNPL) startups have gained traction by targeting consumers, but BNPLs for businesses are also starting to take off. One example is Fairbanc, which is based in Singapore but focused on Indonesia. It allows small businesses to take out short-term credit to purchase fast-moving consumer goods (FMCG) inventory. Fairbanc announced today it has raised $4.8 million in pre-Series A funding led by Vertex Ventures. Other participants in the round included Indonesian conglomerate Lippo Group, Asian…

Australian buy-now-pay-later company Zip Co Ltd recently said that it was weighing an impairment charge on its new US and European businesses, exiting Singapore and "deprioritising" a cryptocurrency offering, citing challenging market conditions. "Reflecting current market conditions, the company has reviewed the goodwill against the Spotii, Twisto and Quadpay assets and is assessing the need to take an impairment charge," the company said in a trading update. "Zip is in the process of closing its Singapore business,…

Apple is working on a service that will let users pay for any Apple Pay purchase in instalments, Bloomberg News reported on Tuesday, sending shares of Afterpay and other 'buy now, pay later' (BNPL) companies sharply lower.Apple will use Goldman Sachs, its existing partner since 2019 for the Apple Card credit card, as the lender for the loans, Bloomberg reported, citing people familiar with the matter.Afterpay slid close to 10 percent soon after markets in Australia, where most BNPL firms are listed, opened on Wednesday.…

Apple and Affirm's PayBright are planning to launch a "buy now, pay later" programme for Apple device purchases in Canada, Bloomberg News reported, allowing people to pay for iPhone, Mac, and iPad over 12 to 24 months.In the United States, Australia, and Europe, buy now, pay later is marketed as an alternative to credit cards. The service has soared in popularity during the pandemic as consumers seek other options to make purchases that are easier on their wallets.On Monday, Square, the payments firm of Twitter co-founder…

Sophia Kunthara / Crunchbase News: London-based BNPL startup Hokodo raised a $40M Series B led by Notion Capital, following an £8.8M Series A in June 2021 — London-based BNPL startup Hokodo has raised $40 million in a Notion Capital-led Series B round, the company announced Monday. — Hokodo, which focuses … Sophia Kunthara / Crunchbase News: London-based BNPL startup Hokodo raised a $40M Series B led by Notion Capital, following an £8.8M Series A in June…