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Buy Now, Pay Later Services Aren't Going Anywhere According to Zip
SYDNEY, Nov. 27, 2020 /PRNewswire/ — As more Australians are forced to rely on smaller income streams, they must find payment options that work for their new reality. This leaves plenty of room for Buy Now Pay Later companies to step into the market and offer Australian consumers a sensible way to spend in 2020 and beyond.
Buy Now Pay Later companies actually profit from the consumer being able to pay their bills, which is the opposite of how traditional lenders make money. This new fintech model involves fees on sales being applied to the merchant instead of the buyer.
An increasing number of Australian's are making the switch to BNPL, feeling that the easy payment instalments are more manageable for the millennial mindset when compared to other credit streams interest-based models. The bite-sized payments offer an easy-to-manage bill that's coordinated by the shopper and payment company prior to purchase, making consumers feel involved in their own credit decisions.
According to Zip CEO, Larry Diamond, customers are continuing to increase their online spend, and attributes Zip's rise to it being a better and fairer, digital alternative to the credit card.
“Data from the recent quarter continues to show the demise of the credit card model,” says Diamond.
Now, with the addition of innovative tap payments such as Tap & Zip, Buy Now Pay Later companies are moving into new markets. This emerging service allows consumers to use their BNPL accounts to pay at physical checkouts. In the case of Zip, that's everywhere a Visa card can be used. This also shows that while younger Australian's are opting out of traditional credit sources, credit companies like Visa are finding ways to stay in the game via BNPL partnerships.
BNPL players have proven their ability to adapt quickly and be innovative to an ever-changing market. While Australians continue to test payment systems and decide what's best for them in this new era post-COVID-19, all the evidence seems to indicate that Buy Now, Pay Later is here to stay.
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SOURCE Zip
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INTENSE Cycles Adopts MSTS' Credit as a Service to Bolster Customer Payment Options
OVERLAND PARK, Kan., Jan. 25, 2021 /PRNewswire-PRWeb/ — MSTS, a global B2B payment and credit solutions provider, today announced the launch of its Credit as a Service® (CaaS) solution for INTENSE Cycles, a leading manufacturer and retailer for mountain and racing bikes, parts, and gear. The technology will allow INTENSE Cycles to offer its dealers net terms and payment by invoice.
“In the past year, we've seen our customer base grow as more people take an interest in outdoor activities,” said Michael Ford, Director of Finance and Operations at INTENSE Cycles. “While flexible payments have always been top of mind for us, this increased demand further accelerated our need to extend credit. Given MSTS' deep expertise in serving business-to-business ecommerce and manufacturing customers, we knew they were the right trusted payments partner for INTENSE Cycles. We look forward to leveraging MSTS' technology to better serve our dealers and end customers now and into the future.”
Following the rise of stay-at-home advisories due to the COVID-19 pandemic in 2020, INTENSE Cycles saw an uptick in demand among bike enthusiasts and newcomers. Consequently, the company recognized the need for flexible payment terms and invoicing for its dealers that are increasingly purchasing larger quantities of bikes and parts. INTENSE Cycles adopted MSTS' white-labeled, payment solution which enables the extension of credit and invoicing at checkout on the company's ecommerce platform. As a result, dealers are able to bring a wider range of bikes, parts, and gear to store locations, ultimately improving the end-user purchasing experience.
“INTENSE Cycles' robust ecommerce platform showcases its true market leadership in the cycling industry,” said Brandon Spear, CEO of MSTS. “We're proud to provide the company with the technology necessary to free INTENSE Cycles from the logistics of payments processes, and instead, allow them to cultivate long-lasting relationships with its dealer network and end customers.”
To learn more about MSTS' credit and payment solutions, visit http://www.msts.com.
About MSTS
MSTS is a global leader in B2B payment and credit solutions, facilitating $6 billion in transactions per year in 17 currencies for customers in more than 190 countries. Our cutting-edge Credit as a Service® (CaaS) solution is setting the stage for the future of omni-channel B2B payments. The company specializes in payment and credit management for B2B companies across transportation, manufacturing and distribution, retail, eCommerce, and marketplaces. MSTS' Credit as a Service solution is a suite of applications and services that facilitates B2B payments by extending terms, handling invoicing and managing collections.
Media Contact
Sarah Erickson, MSTS, 312-561-2491, [email protected]
SOURCE MSTS
News
Scholarships Available to Students in FCC Short-Term Workforce Training Programs
FREDERICK, Md., Jan. 25, 2021 /PRNewswire-PRWeb/ — Students enrolling in non-credit courses at FCC leading to employment, licensure, or job skill enhancement are eligible to receive financial assistance through the Workforce Development Sequence Scholarship from the State of Maryland.
This scholarship is available to prospective students and those already registered in one of the specific course series for the spring semester (January 2021 – June 2021). Course sequences approved for these scholarships can be found here and include courses in automotive technology, child care, electrical, HVAC, welding, medical billing and coding, veterinary assistant, sterile processing, certified nursing assistant, and the Microsoft Foundation series. The maximum amount for the scholarship is $1,000.
To be eligible for this scholarship in spring 2021, students must fill out this online application and submit all required documents.
For more information, contact Treasure Mathis at [email protected].
Media Contact
Caroline Cole, Frederick Community College, (240) 629-7918, [email protected]
SOURCE Frederick Community College
News
Thinking about buying stock in Nokia, AzurRx BioPharma, iRobot, NetEase, or Nordstrom?
NEW YORK, Jan. 25, 2021 /PRNewswire/ — InvestorsObserver issues critical PriceWatch Alerts for NOK, AZRX, IRBT, NTES, and JWN.
To see how InvestorsObserver's proprietary scoring system rates these stocks, view the InvestorsObserver's PriceWatch Alert by selecting the corresponding link.
- NOK: https://www.investorsobserver.com/lp/pr-stocks-lp-2/?stocksymbol=NOK&prnumber=012520215
- AZRX: https://www.investorsobserver.com/lp/pr-stocks-lp-2/?stocksymbol=AZRX&prnumber=012520215
- IRBT: https://www.investorsobserver.com/lp/pr-stocks-lp-2/?stocksymbol=IRBT&prnumber=012520215
- NTES: https://www.investorsobserver.com/lp/pr-stocks-lp-2/?stocksymbol=NTES&prnumber=012520215
- JWN: https://www.investorsobserver.com/lp/pr-stocks-lp-2/?stocksymbol=JWN&prnumber=012520215
(Note: You may have to copy this link into your browser then press the [ENTER] key.)
InvestorsObserver's PriceWatch Alerts are based on our proprietary scoring methodology. Each stock is evaluated based on short-term technical, long-term technical and fundamental factors. Each of those scores is then combined into an overall score that determines a stock's overall suitability for investment.
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SOURCE InvestorsObserver
India's NSE for the second year in the row is the world's largest derivatives exchange
NEW YORK, Jan. 25, 2021 /PRNewswire/ — National Stock Exchange of India Ltd. (NSE) for the second year in the...
Scholarships Available to Students in FCC Short-Term Workforce Training Programs
FREDERICK, Md., Jan. 25, 2021 /PRNewswire-PRWeb/ — Students enrolling in non-credit courses at FCC leading to employment, licensure, or job skill...
INTENSE Cycles Adopts MSTS' Credit as a Service to Bolster Customer Payment Options
OVERLAND PARK, Kan., Jan. 25, 2021 /PRNewswire-PRWeb/ — MSTS, a global B2B payment and credit solutions provider, today announced the launch...
Oceonica Corp Acquires Personal Money Service Company
SAN FRANCISCO, Jan. 25, 2021 /PRNewswire-PRWeb/ — Oceonica Corp. announced that it has acquired Personal Money Service Company, an online-based...
Ocular Partners Names New CEO and CFO
CHICAGO, Jan. 25, 2021 /PRNewswire/ — Ocular Partners, Inc. (“Ocular” or the “Company”), the premier physician-led eye care group in...
Toorak Capital Dedicates $500 million to Acquire Long-Term Rental Investor Loans
SUMMIT, N.J., Jan. 25, 2021 /PRNewswire/ — Toorak Capital Partners (Toorak), the largest capital provider to the residential bridge real...
Volusion Successfully Emerges from Chapter 11 Bankruptcy Protection
AUSTIN, Texas, Jan. 25, 2021 /PRNewswire-PRWeb/ — eCommerce platform provider Volusion, LLC (“Volusion” or the “Company”) announced that the Company...
Thailand Reaffirms Its Commitment to Sustainability
BANGKOK, Jan. 25, 2021 /PRNewswire/ — Today, the Thailand Board of Investment's (BOI) New York office announced the government's plans...
Sycamore Partners Announces Plans to Add Fourth Ship to Azamara® Fleet
NEW YORK, Jan. 25, 2021 /PRNewswire/ — Sycamore Partners, a leading private equity firm, today announced plans for Azamara, the upmarket,...
Shipt Awards Another $50-500 Recognition Bonus to its Shopper Community
BIRMINGHAM, Ala., Jan. 25, 2021 /PRNewswire/ — Today, same-day delivery leader Shipt announced a $3.6 million investment in shopper bonuses...