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Among the several reasons for the rise of debit is its prevalence in digital payment adoption in various ways. The survey showed that a vast majority are using some digital payment, with a decided preference for debit in digital channels. Forty-six percent of shoppers between the ages of 20 and 24, and 44% of those 18-19 years old, said they are more likely to... Read more: https://ow.ly/rLIm50OYa60 #payments #debit #debitcards #digitalpayments #merchants

🚀 Exciting News! Klarna has just launched Wikipink, a pioneering tool that showcases how our #BuyNowPayLater options are transforming consumer finance for the better. Wikipink presents in-depth data on Klarna's performance, including impressive repayment and late fee rates, along with insightful demographics on our consumers. This reveals the significant advantages our zero-to-low-interest financing options offer, enabling customers to divide their payments into four manageable installments. Here are a few standout stats: ⭐ A remarkable 96% of Klarna's #BuyNowPayLater transactions are settled early or precisely on time. ⭐ Nearly a third of our Pay in 4 orders are paid ahead of schedule, with only a minimal 4% encountering late payments. ⭐ This is in stark contrast to the 51% of Americans who find themselves unable to clear their credit card balance monthly, leading to revolving debt and accumulated interest. Discover more about how we're setting a new standard in consumer finance below 👇 #Klarna #ConsumerFinance #Innovation #FinancialWellness

Still unclear as to why BNPL is much more consumer friendly than traditional credit?? Check out Klarna's brand new Wikipink page! Learn how Klarna's interest-free BNPL option is different from traditional credit cards. Full transparency is provided, including age demographics, repayment rates, and late fee rates, demonstrating that Klarna leads to better consumer outcomes. Follow the link to learn more: https://lnkd.in/d3AUQcR7

With young shoppers relying more and more on digital payments and debit options, it’s important to teach children financial literacy early to prepare them for safe, responsible spending as young adults. #FinancialLiteracy #FamilyBanking

Embedded finance is becoming an expectation and differentiator for shoppers — is your business offering flexible financing options for your customers? “Findings captured in the study done jointly by PYMNTS and Sezzle show that consumers place a high value on BNPL as a payment method, so much that nearly half of BNPL users would delay or cancel a purchase if a retailer or merchant did not provide it as a payment method. This sentiment was shared by 28% of both millennials and Gen Z consumers, highlighting the importance of BNPL for younger consumers. Similarly, nearly 26% of baby boomers and seniors also said they would cancel their purchase if BNPL was not available. The PYMNTS Intelligence study found that if BNPL was not offered at checkout, 28% of bridge millennials would opt for a cheaper alternative." Versatile Credit helps merchants build a full spectrum financing program to seamlessly connect their customers with financing and leasing options to help them make their purchase, regardless of their credit score, in-store and online. Check out the full article over at PYMNTS.com! #EmbeddedFinance #BNPL #ConsumerChoice #FullSpectrum #FinTech #Payments

How does your embedded lending strategy affect customer decision-making? According to a study by PYMNTS and Sezzle, more than 1 in 4 respondents said that they have purchased a cheaper product when payment options like Buy Now, Pay Later (#BNPL) were unavailable. With Versatile Credit, merchants can leverage embedded lending technology to integrate consumer financing into their existing processes and technology stacks, helping to enhance their customer experience and provide shoppers with a first-class experience to find the financing that fits their needs. Merchants can offer these options online or in-store, through a variety of application experiences, including tablets and computers, dedicated kiosks, and consumer mobile devices. Versatile works with a network of over 40 prime, near-prime, sub-prime, and no-credit needed providers to help merchants provide a wide array of full-spectrum options for their shoppers and facilitate the right financing solution fit. With prequalification technology shoppers are connected with options quickly, allowing them to explore their opportunities without affecting their credit score. Embedded lending isn’t a trend, it’s an expectation. Contact Versatile Credit today to learn how we can help you enhance your financing offerings and boost your sales! #EmbeddedFinance #EmbeddedLending #FinTech #Payments #ConsumerFinance

PYMNTS' recent study, “Mobile Wallets Gain Ground” found consumers no longer rely on traditional payments methods, creating opportunities for the growth of mobile wallets. Nearly 1 in 4 millennials and bridge millennials now shop for non-grocery retail items on their phones. As the rise of mobile wallets continues to increase, merchants will need to adopt their payment methods to meet the convenience and benefits consumers now expect. #mobilewallets #digitalpayments