It is difficult to predict how the economic downturn and recession will impact the Buy Now Pay Later (BNPL) industry. As interest rates continue to rise, credit card borrowing is growing more expensive. Now there is a new breed of start-ups that have turned the concept of BNPL on its head. Save Now, Buy Later (SNBL) schemes incentivise saving for big-ticket purchases while avoiding the potential debt trap that comes with BNPL. Mark Beresford (Director, London) along with the Retail Payments Practice at EDC have taken a closer look at SNBL as this new alternative payment method starts to gain momentum.
Leading financial services provider that enables local and cross-border payments
Shanta Paratian (Manager, London) moderated working groups focusing on identifying air cargo payments pain points at the Cargo Payments Summit 2022 in London on the 17th of October. Although the air cargo market more than doubled in value between 2019 and 2021, pain points surrounding payments remain apparent. During her session, Shanta identified three key categories of payment pain points in air cargo as Cost of Payment/Collection, Payments Risk, and Internal Expenses & Payment Reconciliation.
There are many successful use cases for Open Banking but payments is arguably not one so far. In this article, Volker Schloenvoigt (Director, London) highlights how it might be required for merchants to share some of the benefits with the end consumer to kick start adoption.
Our client was undertaking a comprehensive review of the existing portfolio of business initiatives and a corporate strategy exercise to define the company’s long-term growth trajectory.