And 2024 could prove to be just as difficult for consumers trying to pay back their debts
It’s successfully built out services to engage users, but it faces growing competition from other remittance players
And they’re willing to change where they shop and what they buy based on product-specific discounts and rewards
Nu Mexico users can request remittances through WhatsApp, which could prove popular given the messaging platform’s large user base
Amazon has been pushing the tech for use cases beyond traditional retail stores to stir up adoption
Now clients can invest in crypto through traditional financial institutions—and neither will have to directly hold digital currency.
The P2P payments space is deeply entrenched by competitors that have large networks of loyal users
Revolving credit spiked in November. Paired with high interest rates and an increase in BNPL debts, consumers may be off to a rocky 2024
The deal would help M&A activity start strong in 2024 after falling to a six-year low in 2023
The BNPL fintech is on a growth tear as it racks up new partnerships
Stakeholders submitted 11,000 comments during the CFPB’s open banking feedback period—revealing competing interests.
GenAI could generate between $200 billion and $340 billion (9% to 15% of banks’ operating profits) in value annually through greater productivity, per a 2023 McKinsey & Company report. But its potentially disruptive force won’t take hold in 2024.
On the first podcast episode of the new year, we discuss what buy now, pay later's (BNPL’s) prospects will look like in 2024. • In our “Story by Numbers” segment, we focus on the outlook for BNPL by looking at growth by generation. • In “Headlines,” we examine data from Adobe Analytics that states BNPL purchases were up 43% on Cyber Monday compared with the previous year, and how the rise of BNPL use over the holidays has increased consumers' debt burden. • In “For Argument’s Sake,” we debate whether BNPL promotes good or bad behavior. Listen to the podcast with host Rob Rubin and our analysts Grace Broadbent and David Morris.