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buy now pay later

Newegg just started selling refurbished electronics

Budget electronics retailer Newegg just opened up a program to sell refurbished gadgets. The appropriately-named Newegg Refreshed promises to offer “top pre-owned products at competitive prices.”The service is already live and is available in multiple product categories, from Apple products like iPhones and MacBooks to GPUs and even robot vacuums. The program also includes laptops, gaming desktops, monitors and all kinds of smartphones and tablets. Newegg has teamed up with “industry-leading refurbishing partners” like…

MobiKwik: Decoding MobiKwik’s second attempt at public listing

MobiKwik on Friday filed draft papers for its initial public offering (IPO) with the stock markets regulator, proposing to raise Rs 700 crore through a fresh issue of shares.This is the second time One MobiKwik Systems, parent company of the digital payment service provider, has filed its draft papers. MobiKwik had abandoned its initial listing plans in 2021, citing weak market conditions.Elevate Your Tech Prowess with High-Value Skill CoursesOffering CollegeCourseWebsiteMITMIT Technology Leadership and…

fintech industry: 2024: How the fintech industry will learn to live a regulated life

Some five or six years ago, when fintechs burst into the financial services industry, they were seen as the disruptors. But 2023 brought most of them into the regulatory fold—whether they were payment gateways, cross-border players or digital lending startups, the Reserve Bank of India (RBI) framed rules for all.Now, as the fintechs enter 2024, they will prepare for life within the regulatory ambit.Elevate Your Tech Prowess with High-Value Skill CoursesOffering CollegeCourseWebsiteNorthwestern UniversityKellogg Post…

Buy now, pay later used by shoppers who normally avoid cre

Sebastian Siemiatkowski is a co-founder and CEO of Klarna, the Sweden-based company that’s one of the world’s biggest providers of buy now, pay later services to customers. Klarna started off in Europe and entered the U.S. market in 2015.Buy now, pay later has become an increasingly popular option for consumers for purchases: its usage is up 10-fold since the pandemic and U.S. regulators see it as potentially a more sustainable way for borrowers to pay for purchases instead of using credit cards.Siemiatkowski spoke to the…

Biggest Online Shopping Day Ever! Cyber Monday Sales Hit Record $12.4 Bn Even as Savings Dwindle

US shoppers spent $12.4 billion on Cyber Monday, a record result demonstrating the continued resilience of consumers despite dwindling pandemic-era savings and high interest rates.Spending increased 9.6% from a year ago, making it the biggest online shopping day ever, according to Adobe Inc., which compiles the data. Adobe had earlier adjusted upward its online spending forecast for the day based on stronger-than-expected spending on Black Friday and the popularity of buy-now-pay-later offerings that let shoppers stretch…

Cyber Monday marks the year’s biggest online shopping day, and one more chance to save on gifts

Consumers are scouring the internet for online deals as they begin to cap off the five-day post-Thanksgiving shopping bonanza with Cyber Monday.Even though e-commerce is now part and parcel of our everyday lives and much of the holiday shopping season, Cyber Monday –- a term coined back in 2005 by the National Retail Federation –- continues to be the biggest online shopping day of the year, thanks to the deals and the hype the industry has created to fuel it. Adobe Analytics, which tracks online shopping, expects…

Klarna’s and Affirm’s very good week

Welcome back to The Interchange, where we take a look at the hottest fintech news of the previous week. If you want to receive The Interchange directly in your inbox every Sunday, head here to sign up! Due to the U.S. holiday, this is an abbreviated edition. Buy now, pay later comeback Both Klarna and Affirm — known primarily for their buy now, pay later businesses — revealed their quarterly results this week. And they did not disappoint. Affirm reported that its fiscal first-quarter revenue grew 37% year over year…

Apple Launches Apple Pay Later in US, Will Allow Users to Split Purchases Into 4 Interest-Free Payments

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…

Virgin Money joins the market for ‘buy now, pay later’

The British bank said that Virgin Money will enter the fast-growing "buy now, pay later" market, joining other mainstream lenders pushing into the lucrative but sometimes controversial business. Virgin will offer a credit card that allows customers to spread repayments over a number of months, it said, with instalment fees added if they repay in nine months or longer. 'Buy now pay later' products have soared in popularity in recent years with customers buying anything from clothes to electronic gadgets, but have attracted…