<div>
  <ul>
    <li>
      <p>
        The UK Government has launched a consultation on new regulations for buy now, pay later (BNPL) products, with plans to implement regulatory changes by 2026. The proposed regulations aim to bring BNPL companies under the supervision of the Financial Conduct Authority (FCA) and apply the Consumer Credit Act.
      </p>
    </li>
    <li>
      <p>
        Under the new regulation, BNPL companies will be required to conduct affordability checks before offering loans, provide clear information about loan agreements, and allow consumers access to Section 75 protections and the Financial Ombudsman Service for complaints.
      </p>
    </li>
    <li>
      <p>
        The consultation will close on November 29, and final legislation is expected to be introduced in Parliament in early 2025.
      </p>
    </li>
  </ul>
  <p>
  </p>
</div>


<div>
  <p>
    <a href="https://minutehack.com/news/new-buy-now-pay-later-protections-set-to-come-into-force-from-2026#:~:text=Oct%2017%2C%202024-,Shoppers%20will%20be%20given%20access%20to%20key%20protections%20provided%20by,from%202026%20under%20Government%20plans.">
      Minutehack
    </a>
  </p>
</div>


Buy Now, Pay Later

<div>
 <p>The UK Government has started a consultation regarding new rules for buy now, pay later (BNPL) goods. The aim is to implement these regulatory changes by 2026. These proposed rules are designed to regulate BNPL firms under the Financial Conduct Authority (FCA) and to enact the Consumer Credit Act.</p>
 <p>BNPL firms will have to conduct affordability checks prior to providing loans, according to the new regulation. They will also be required to provide clear details about loan contracts and grant customers access to Section 75 protections and the Financial Ombudsman Service for complaints.</p>
 <p>The consultation will end on November 29, and the definitive legislation is anticipated to be presented in Parliament at the start of 2025.</p>
</div>

UK to regulate BNPL offerings by 2026

PROMINENT_CATEGORY

<div>
 
 <p>Roonyx has introduced a new platform for developing buy now, pay later (BNPL) infrastructure solutions. The platform enables seamless integration with existing operational systems, customization capability and enhanced client interaction. Special features including adjustable installment terms, support for collaboration with credit organizations and retailers, and scalability to meet business expansion.</p>
 
 <p>Roonyx claims that its platform enables companies to roll out BNPL offerings in a matter of weeks, assisting them in elevating conversion rates and average order values. Founded in 2010, Roonyx provides BNPL solutions that can be assimilated with existing systems such as accounting software and credit scoring models.</p>
 
 </div>

Roonyx launches buy now, pay later platform for businesses

<div>
 
 <p>Capchase, a B2B financing platform, has joined forces with Stripe, an API-based payment and fraud prevention platform. This partnership allows Capchase's B2B BNPL service to be integrated into Stripe's payment features.</p>
 <p>This collaboration delivers increased flexibility and convenience for B2B transactions. It allows buyers to split their purchases into fewer payments and lets sellers conclude deals quicker with the yearly contract value received upfront.</p>
 <p>Businesses that have used Capchase Pay have noted a consistent increase in annual contract value by up to 50% and an average sales cycle speed of approximately 30% higher. The partnership with Stripe's payment platform simplifies the process for SaaS businesses to offer flexible payment options to their customers.</p>
 
</div>

Capchase partners with Stripe to integrate offerings and expand product reach

ANALYST_QUICK_TAKE

<div>
 
 <p>Mondu, a Germany-based B2B Buy Now Pay Later (BNPL) solution provider, has collaborated with Stripe, an API-based payment infrastructure, card-issuing, and fraud prevention platform. This partnership intends to provide flexible invoice payments to business-to-business (B2B) merchants and marketplaces.</p>
 <p>Thanks to this integration, merchants can now offer Mondu's flexible invoice payment options via their existing Stripe setup. This is expected to enhance the checkout experience for customers while also increasing conversion rates. Presently, Mondu's solution is available through Stripe platforms in the Netherlands, Germany, and France. However, they intend to expand to additional markets in the future. </p>
 <p>This joint venture seeks to assist merchants in driving sales, augmenting order values, and streamlining the onboarding process for new business customers. At the same time, it gives buyers the luxury of increased payment flexibility. It also guarantees upfront payments for merchants without any risks of default.</p>
 
</div> <p><b>Analyst QuickTake:<br>
 </b> Mondu recently received an <a href="https:<br>
//sp-edge.com/updates/32435"> Electronic Money Institution </a> (EMI) license from the Dutch Central Bank, allowing it to meet regulatory compliance and expand its payment services across Europe. Early this year, Mondu also secured <a href="https:<br>
//sp-edge.com/updates/25882"> EUR 30 million </a> in debt financing from German bank Vereinigte Volksbank Raiffeisenbank (VVRB), which was earmarked for European expansion.</p>

Mondu partners with Stripe to offer B2B BNPL payments for merchants

<div>

<p>Tabby, a UAE-based Buy Now Pay Later (BNPL) platform, has announced plans to acquire Tweeq, a Saudi-based digital wallet which holds a license from the Saudi Central Bank. The terms of the deal, including the purchase sum, have not been disclosed.</p>

<p>Tweeq was established in 2020, offering a digital wallet for consumers in Saudi Arabia under the authority of an electronic money institution license. The service allows users to spend, transfer, and manage their money through a spending account.</p>

<p>The acquisition plan positions Tabby to broaden its financial service offerings within its existing ecosystem, with Tweeq continuing to operate as an independent entity. Through this move, Tabby hopes to encompass digital spending accounts, cards, and money management tools into its portfolio, pending the approval from the relevant regulators.</p>

</div> <p><b>Analyst QuickTake:<br>
 </b> This marks Tabby’s first acquisition after the company reached <a href="https:<br>
//sp-edge.com/updates/23310"> unicorn status </a> with USD 200 million raised in Series D funding last November. Tabby also expanded its offerings with the launch of <a href="https:<br>
//sp-edge.com/updates/26975"> Tabby+ </a> early this year and the company intends to broaden its product offerings further leveraging Tweeq’s expertise.</p>

Tabby to acquire Saudi Arabia-based Tweeq for undisclosed sum

<div>
 
 <p>Jifiti, a BNPL infrastructure provider, has added a Loan Management System (LMS) to its existing white-label embedded lending platform. This enhancement includes various tools for managing and tracking loans throughout their lifecycle. The LMS add-on also offers expanded capabilities to customers and partners in different sectors like retail, healthcare, heavy equipment, auto repair, contracting, travel, and OEM financing.</p>
 
</div>

Jifiti launches loan management system add-on for lending platform

<div>
 
 <p>BNPL provider Klarna, based in Sweden, plans to halve its workforce through the application of AI to address customer inquiries, drastically cutting the time required to resolve these inquiries. The firm's staff count has fallen from 5,000 to 3,800 in the last year, primarily due to employee attrition.</p>
 <p>Currently, Klarna's AI assistant is operating at a level equal to 700 human employees, shortening the typical resolution time from 11 minutes to just two minutes. The company has not taken on new staff since September of the previous year, facilitating a natural contraction in company size.</p>
 <p>In a statement, Klarna's CEO Sebastian Siemiatkowski claimed that the average earnings per employee over the past year climbed by 73%, increasing from 4 million crowns (~USD 360,000) to 7 million crowns (~USD 690,000). The company, which anticipates going public next year, reported a swing to an adjusted profit of 673 million Swedish crowns (~USD 66 million) in the first half of 2024.</p>
 
</div>

Klarna plans more job cuts with GenAI adoption

<div>
 
 <p>Klarna, a Buy Now Pay Later (BNPL) provider based in Sweden, has purchased the assets of Laybuy, a New Zealand BNPL provider. The selling price is hidden. The service is set to be reintroduced in the next few weeks by Klarna.</p>
 <p>With this acquisition, Klarna is intending to reestablish the Laybuy brand in New Zealand and harness its expertise and international reach to provide better payment alternatives to New Zealand consumers and merchants.</p>
 <p>Klarna services over 85 million users worldwide and works with more than 550,000 worldwide merchants, including brands such as Uber, Airbnb, H&amp;M, Sephora, Macy’s, and Nike. Laybuy has more than 550,000 users in New Zealand and over 10,000 merchant partners.</p>
 
</div> <p><b>Analyst QuickTake:<br>
 </b> Laybuy <a href="https:<br>
//sp-edge.com/updates/30597"> went into receivership </a> two months ago due to financial pressures and economic challenges affecting its operations in New Zealand and Australia. The company struggled to raise capital and undertook various cost minimization measures, including <a href="https:<br>
//sp-edge.com/updates/15915"> voluntarily delisting </a> from the Australian Securities Exchange and <a href="https:<br>
//sp-edge.com/updates/17220"> laying off 10% of its employees </a> early last year.</p>

Klarna acquires Laybuy for undisclosed sum; plans to relaunch brand

<div>
 
 <p>Zip, a Buy Now Pay Later (BNPL) provider based in Australia, has entered into a partnership with Stripe, an advanced payment infrastructure and fraud prevention platform. This collaboration is aimed at integrating Zip's BNPL service with Stripe for the benefit of US merchants.</p>
 <p>The main objective of this alliance is for Zip to expand its clientele, boost the conversion rate of shopping carts and augment basket sizes by tapping into the merchant partners of Stripe. It will also facilitate Zip as a payment method. This integration is designed to offer customers flexible credit options while enabling merchants to reach a wider customer base.</p>
 <p>It is projected that Zip's BNPL service will be accessible to US merchants using Stripe later this year. The service is currently only available to beta users.</p>
 
</div>

Zip partners with Stripe to expand reach with US merchants

<div>

<p>Klarna, a Buy Now Pay Later (BNPL) provider from Sweden, is launching two new services, Klarna Balance and Cashback, in Europe and the US. Klarna Balance is a feature that allows customers to keep funds in a Klarna account for use in purchases, installment payments, cash-back rewards for shopping within the Klarna app, or for receiving refunds on returned items. The other service, Cashback, provides rewards for purchases made via the Klarna app, offering up to 10% cashback with certain retailers.</p>

<p>Although Klarna does not offer interest on cash accounts in the US at the moment, there are plans for this in the future. However, in Europe, customers can earn interest rates as high as 3.58% on their funds. These new services demonstrate Klarna's ambition to transition into an everyday spending partner and adopt a traditional retail banking model.</p>

</div>

All Updates

UK to regulate BNPL offerings by 2026

Roonyx launches buy now, pay later platform for businesses

Capchase partners with Stripe to integrate offerings and expand product reach

Mondu partners with Stripe to offer B2B BNPL payments for merchants

Tabby to acquire Saudi Arabia-based Tweeq for undisclosed sum

Jifiti launches loan management system add-on for lending platform

Klarna plans more job cuts with GenAI adoption

Klarna acquires Laybuy for undisclosed sum; plans to relaunch brand

Zip partners with Stripe to expand reach with US merchants

Klarna launches Klarna Balance and Cashback in the US and across Europe

Buy Now, Pay Later

UK to regulate BNPL offerings by 2026

Contact us