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Affirm users can even upload virtual cards into Apple Pay and Google Pay to pay in-store鈥攁 workaround for when Affirm is not accepted at checkout.

Affirm said SVB was neither a funding partner nor an originating bank partner, and that large banks held the majority of its operating accounts. While it initially paused disbursements to merchants that had SVB accounts, it later resumed those transactions. Marqeta admitted that it did have some exposure to SVB鈥攊t used the bank as its primary account.

For example, Affirm and Splitit are on the hunt for tech assets. Struggling firms might also put themselves up for sale to larger corporations. Bank-to-Bank Electronic Transfer Payments. Bank account number payments and online banking bill payments made up 12.9% of US consumer payments in 2021, per the Fed.

As the economy improves in 2024, companies will be able to turn their focus toward technological advancements and upcoming regulations.

BNPL providers like Affirm and Klarna, which are already popular with Gen Z, have also launched debit cards to capture more spending volume.

Square Loans, Cash App Borrow, and Afterpay were all bright spots that should yield longer-term growth

As inflation eases across Europe in 2024, retail, media, and marketing firms will turn their attention to regulatory headwinds on the horizon.

And Amazon partnered with Affirm to bring buy now, pay later (BNPL) to US and Canadian customers. Related content: Check out what our Retail & Ecommerce analysts have to say about Buy with Prime鈥檚 expansion. This article originally appeared in Insider Intelligence's Payments Innovation Briefing鈥攁 daily recap of top stories reshaping the payments industry.

After Affirm partnered with Amazon, for example, its fiscal Q2 2022 volume surged 115% YoY. And Amazon鈥檚 push into payments can open new opportunities for Stripe. Amazon may work with Stripe on innovations like its hand-scan payments tech Amazon One and Just Walk Out鈥攖he firm鈥檚 cashierless checkout tech. Supporting these business units can help Stripe scale and strengthen its global presence.

Samba TV鈥檚 data affirms insurers鈥� TV ads are more likely to reach older consumers than Gen Zers. By comparison, Gen Zers tend to spend about three hours per day on social media alone, while baby boomers typically spend one hour or less doing the same, per McKinsey. Interested in seeing more finserv advertising benchmarks?

Its own data affirms the efficacy of this approach: Diverse panels consistently outperform their less diverse counterparts. It's clear that inclusivity isn鈥檛 just ethically right鈥攊t's commercially smart. Yes, but: Amid economic pressures, some companies have retracted their DEI commitments, leading to reduced diversity in ads and DEI job listings, potentially jeopardizing their brand images.

The company is shifting its strategies to achieve greater profitability, but investors still aren鈥檛 impressed

Big names like Affirm and Afterpay have started pushing their presence in the market. Among converts are credit card holders, 17% of whom would consider using BNPL instead of their card for a large purchase, per a 2022 J.D. Power survey. In response, more merchants may start accepting the payment method. The demographics: Younger consumers are driving the uptick in volume.

It just sold off Klarna Checkout, now rebranded as Kustom. The business could become a desirable acquisition target for its newest partner.

Leading cash-back credit cards need to drive acquisition in an increasingly competitive segment of the card market. Our exclusive consumer survey data reveals which emerging features issuers should invest in to win over customers.