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Squarespace is complementing its 2024 payment processing rollout with buy now, pay later (BNPL) products and pay links. BigCommerce is bucking the payfac trend via its open software as a service (SaaS) platform. This approach intends to give merchants more flexibility than what out-of-the-box payment and commerce solutions provide.

Shoppers will lean on BNPL. Globally, BNPL volumes jumped up 237% YoY in the first half of 2024, per ACI Worldwide. ACI expects this bump to carry into the holiday shopping season: Many consumers want flexible payment options to ease their financial concerns. But consumers may be stretching themselves thin.

Click here to view our full forecast for US BNPL service user share, by age. What should FIs do next? Consider offering BNPL solutions. Almost half of credit unions say BNPL is not in their near-term plans, per January 2024 data from PYMNTS Intelligence. But as demand grows, it鈥檚 worth evaluating the option.

In addition to BNPL fintechs rolling out BNPL-integrated debit cards like the Affirm card, other payment players are also getting in on the action. Chase offers Chase Pay in 4 to its debit card holders. Unlike its credit card-linked Pay Over Time, Pay in 4 charges no fees to turn a transaction into installments. Suffolk Credit Union has a BNPL product for its debit cards.

BNPL is still a small retail payments player. While 73% of US consumers said they鈥檇 heard of BNPL in 2022, just 5.8% said they鈥檇 used it at least once over a 30-day period. US BNPL value will hit $80.77 billion in 2024, per our forecast鈥攋ust 1.1% of total US retail sales.

The BNPL provider estimates that the assistant will drive a $40 million profit improvement in 2024. Mastercard launched a genAI-based chatbot called Shopping Muse. It helps to guide shoppers along the purchase journey, aided by image recognition and identifying users based on their assumed interests rather than just personal traits. Fraud prevention.

How do Klarna鈥檚 BNPL product features measure up to customer demand? We show how new features can balance these demands against the competing interests of shareholders and regulators.

We expect buy now, pay later (BNPL) users and payment value to continue growing in the coming years, despite a perfect storm of rising investor and regulatory scrutiny, increasing competition, and worsening economic conditions.

Our inaugural study evaluates 49 BNPL features based on customer demand, according to results of a survey of US BNPL users.

And BNPL is becoming a popular financing alternative: 4 in 10 US digital buyers will use BNPL at least once in 2025, per our forecasts. The Upgrade Financing feature should also prove popular among Apple fans who continually want the latest and greatest Apple products. Apple offers a similar upgrade program for the iPhone.

And PayPal鈥檚 enhanced one-time checkout increased buy now, pay later (BNPL) use by 15% to 20%. Making Venmo profitable. One tool PayPal is using is the Venmo Debit Card. In Q3, monthly active debit card accounts grew 30% YoY. But that鈥檚 just 5% of active Venmo accounts, showing room for growth. We forecast US Venmo users will total 76.4 million in 2025.

On top of being a bank and a BNPL provider:. It launched a standalone open banking brand, Kosma. It bought and operated social shopping platform Hero for $160 million. It bought price-comparison site PriceRunner. It also launched a physical card and a shopping search engine, among other services and features. But not all of those ventures panned out.

Mobile wallet use is driving this trend, bringing wallet-based payments options like buy now, pay later (BNPL) and cryptocurrency along with it. They can also help merchants maximize ecommerce sales growth. Mobile wallets play a key role here, too. Payment providers can also expand online payment methods, boost authorization rates, and speed up wallet-based checkout.

The service may incentivize more shoppers to pay with the BNPL provider, and it may also bring Klarna key data benefits

Affiliate deals linked to loyalty programs, credit cards, and buy now, pay later (BNPL) services not only help to drive higher conversions, but also help marketers from over-discounting to consumers that would be willing to buy at a higher price, Willens said. Watch the full webinar. This was originally featured in the 蘑菇AV Daily newsletter.

From tumbling valuations to the arrival of Big Tech firms, we run down the biggest BNPL developments of 2022.

础尘补锄辞苍鈥檚 BNPL partners鈥擜ffirm and Citi鈥攍ikely benefited from growing consumer demand for the tool

The company has been beefing up its BNPL capabilities ever since its exclusivity period with Affirm ended earlier this year

Despite delays, Apple can benefit from its extensive user base and merchant acceptance to build BNPL success.