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Buy Now, Pay Later Services Aren't Going Anywhere According to Zip

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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.

 

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/buy-now-pay-later-services-arent-going-anywhere-according-to-zip-301180922.html

SOURCE Zip

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INTENSE Cycles Adopts MSTS' Credit as a Service to Bolster Customer Payment Options

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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

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Scholarships Available to Students in FCC Short-Term Workforce Training Programs

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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 2021June 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

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Thinking about buying stock in Nokia, AzurRx BioPharma, iRobot, NetEase, or Nordstrom?

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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.

(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.

 

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/thinking-about-buying-stock-in-nokia-azurrx-biopharma-irobot-netease-or-nordstrom-301214145.html

SOURCE InvestorsObserver

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Editorial & Advertiser disclosureOur website provides you with information, news, press releases, Opinion and advertorials on various financial products and services. This is not to be considered as financial advice and should be considered only for information purposes. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third party websites, affiliate sales networks, and may link to our advertising partners websites. Though we are tied up with various advertising and affiliate networks, this does not affect our analysis or opinion. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you, or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish sponsored articles or links, you may consider all articles or links hosted on our site as a partner endorsed link.

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