Tag: BNPL
Klarna set to introduce late payment charges
Buy Now, Pay Later provider Klarna is set to introduce late payment charges to UK customers in an attempt to curb loan defaults. From the 16th March, the short-term credit provider will begin charging fees of up to £5 to customers that miss payments. Fees will be capped at 25% of the order value with no more…
Experts Predict 8 Biggest FinTech Trends For 2023
From tribe-based banking to embedded finance and everyday cryptocurrency payments, here’s what to expect in the FinTech industry in the year ahead.. The financial technology sector is rapidly evolving with traditional methods of banking now being replaced with digital solutions, in a bid to make things faster, easier and, hopefully, more streamlined for both businesses…
eCommerce fraud losses to exceed $48 billion globally in 2023
A new study from Juniper Research has found that the total cost of eCommerce fraud to merchants will exceed $48 billion globally in 2023, from just over $41 billion in 2022. It predicted that this growth will be accelerated by the increasing use of alternative payment methods, such as digital wallets and BNPL (Buy-Now-Pay-Later), which are…
Buy Now Pay Later to hit 900 million users by 2027
A new study from Juniper Research has predicted that the number of BNPL (Buy Now Pay Later) users will surpass 900 million globally by 2027; increasing from 360 million in 2022. This substantial growth of 157% will be driven by the anticipated economic downturn, which will increase the demand for low-cost credit solutions. BNPL schemes enable…
Which? warns of Buy Now Pay Later debt risk
Which? is calling for stronger safeguards to stop online shoppers from choosing Buy Now Pay Later products without knowing the risks, as its new research reveals many people do not think they are taking on debt when using this payment method. Buy Now Pay Later (BNPL) has soared in popularity in recent years as a…
Online retailers flouting law with returns policies, warns Which?
Which? has exposed scores of online retailers which have returns policies in breach of consumer law offering Buy Now, Pay Later and other forms of payment, potentially putting shoppers at risk of losing their money if they want to send back unwanted or faulty goods. The consumer watchdog found more than 170 online retailers, listed…
