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Consumers and Merchants Should Look Before They Leap into BNPL Services

Retail TouchPoints

The economic fallout from the COVID-19 pandemic accelerated demand for buy now, pay later (BNPL) payment options. Research by The Ascent showed that among people who have used a BNPL service, 45% first did so in 2019, 21% first did so in 2020, and only 7% had used a BNPL service prior to 2015. billion, according to IBISWorld.

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BNPL and the growth of digital payments in Apac

Inside Retail

But the payment method is already truly embedded in the digital economy and is not going anywhere, even if it is regulated. Let’s look at the conditions that were so favourable to this payment method, the inevitable regulations and consumer and media response. You can now buy makeup on instalment plans with the likes of Sephora.

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Visa’s Amazon spat shows power is shifting to retailers in fee battle

Inside Retail

Amazon’s latest spat with Visa shows big retailers, armed with a growing array of payment options, are gaining the upper hand in their power struggle with card providers, but it’s not a crisis for the payment company. “If a merchant wants to offer credit in a different way, we’re agnostic.

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Rising costs and supply chain issues stimulate adaptation and innovation

Inside Retail

An online survey of more than 800 key decision-makers found almost half were actively planning to innovate and adapt in the year ahead to increase their revenue. Purchasing plans and finance needs were also analysed. Business considerations and how CommBank Asset Finance can help. Business sentiment remains steady.

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What is Alternative Lending?

Small Biz Trends

They supply business financing that is characterized by accessibility, flexibility, and speed. Many alternative lenders typically complete the process digitally. These online lenders use software to come up with financing options, get installment loans, and other types of loans early. The Application Process is Fast.

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98% of European ecommerce consumers are using social media for product research

A1 Retail

Mollie reveals that economically ‘concerned’ consumers are relying more on social media, BNPL, and discounts when shopping online but expect to spend more in the next year Mollie , one of the fastest growing financial service providers in Europe, today unveiled findings from its second annual European Ecommerce Report.

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Why Your Retail Business Needs Credit Report Services

Retail Minded

In fact, during the first half of 2017, several significant retailers were forced to go out of business due to poor planning owing to economic inflation. Fortunately, various services can help keep your retail establishment afloat in stormy financial waters. What Are Credit Report Services? . Improve Customer Service .