Search results for BNPL
Finance
Fintech hot issue: AI services spread across finance as BNPL market expands
Financial companies including major banks are introducing a growing range of AI-based services, raising questions about whether consumers will see tangible benefits. Shinhan Bank launched an OpenAI GPT-based export document screening service, while KakaoBank and Toss Bank expanded AI offerings. The Export-Import Bank of Korea plans to invest 20 trillion won over five years to support domestic AI firms. Overseas, U.S. BNPL payments hit records during the year-end shopping season, Adobe Analytics data showed.
Finance
U.S. retail industry grows more dependent on buy now, pay later
U.S. retailers are increasingly relying on buy now, pay later (BNPL) payment options amid high interest rates and concerns about weaker consumer spending. Forbes reported that merchants adopting PayPal’s BNPL saw average order values rise 91 percent. Competition is expanding among major BNPL providers and card issuers. Regulators and credit agencies are also stepping up scrutiny as usage concentrates among financially vulnerable consumers and delinquency concerns grow.
Finance
U.S. buy now, pay later transactions hit record; Adobe sees 11 percent rise
Buy now, pay later services in the U.S. are growing rapidly, with record transaction volumes from the start of the year-end shopping season. Adobe Analytics put BNPL payments at $10.1 billion from Nov. 1 to Dec. 1, up 9 percent, and forecast $20.2 billion for November and December, up 11 percent. Klarna and Block reported higher usage. Regulators in seven states have sought information from six BNPL firms.