Revolut’s Mission to Dominate Banking
Laith Al-Khalaf, Financial Times
For years, it struggled to get a licence to operate as a bank. Now it wants to shake up the industry with an ‘everything app’
Nik Storonsky was in a cheery mood as he visited the world’s biggest luxury yachtmaker on a drizzly day last October. The Revolut founder had been catapulted into the ranks of Britain’s wealthiest people as he sealed a share sale valuing his fintech at $75bn. His stroll through the sprawling Lürssen-Kröger shipyard in northern Germany was a form of victory lap…
Read moreHow Affirm leverages 0% Interest
Justin Bachman, Payments Dive
Inflation is prompting consumers to turn to Affirm’s zero-interest buy now, pay later loans, the company’s latest financial results suggest.
An inflation-pinched U.S. consumer is helping drive buy now, pay later demand at Affirm Holdings, especially for shorter loans without interest, according to a readout by the company on its latest financial results…
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BNPL Is Loss Prevention with an Outsized Payoff
Bryce Deeney, The Financial Brand
Buy Now, Pay Later (BNPL) is small-dollar, high-frequency lending. On its own, a BNPL loan doesn’t move a lending portfolio the way a mortgage or an auto loan does.
However, its ability to impact revenue and steer banking relationships in favor of institutional goals, is both real and understated. The advantage of BNPL is in its relevance to everyday household budgetary decisions. BNPL targets transaction sizes within a range where consumers are willing to consider short-term, low-commitment financing…
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