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Buy now, pay later is making a comeback, but it’s evolving into a different form. Companies offering this service are expanding into other areas, and Affirm, one of the leading companies in this sector, is embracing this trend. Vishal Kapoor, head of product at Affirm. Image Credits: Affirm In the case of Affirm, the company … Read more
The growing demand for fintech services continues to be influenced by the digitization process. Reports predict that the sector will reach $1.5 trillion by the end of the decade, indicating a highly optimistic outlook. However, as more players seek to establish themselves, the competitive landscape becomes fiercer. Additionally, available funding in 2023 was notably lower … Read more
Welcome back to The Interchange, where we take a look at the hottest fintech news of the previous week. If you want to receive The Interchange directly in your inbox every Sunday, head here to sign up! This week, we dig into spend management companies’ AI aspirations, and one U.K. fintech’s recent growth. AI Aspirations At one … Read more
India’s central bank has implemented measures to reduce the rapid growth in consumer credit, which will have an impact on consumer spending and several startups in the South Asian market, according to industry executives. The Reserve Bank of India increased risk weights on unsecured personal loans, credit card, and consumer durable loans provided by banks … Read more
African payments company Paystack has downsized its operations outside of Africa, leading to a reduction in its workforce in Europe and Dubai. The decision is part of an effort to streamline its operations, especially in markets where the company had previously hired technical roles to support its primary operations in Africa. Co-founder and CEO Shola … Read more
Jesse Chor’s introduction to tanda collectives in Montreal’s Chinatown, an informal peer-to-peer savings and lending network, left a lasting impression on him. The practice, rooted in Mexican culture, has provided financial support to immigrants and others without access to traditional banking services for centuries. Chor’s personal experience and reflections led him to develop Tanda, a … Read more
Venmo, owned by PayPal, is launching a new feature that allows users to manage multiple expenses within groups, such as family or roommate finances, club or sports team funds, and community organization expenses. Venmo Groups, available starting today, enables users to track, split, manage, and settle ongoing expenses directly within the Venmo app. This feature … Read more
Hussain Elius, known for co-founding Pathao, a leading ride-sharing app in Bangladesh, has ventured into the realm of DeFi with Wind.app. Wind.app is a self-custodial, smart contract wallet that boasts three main features. Firstly, it facilitates businesses in sending payments to remote employees globally. Secondly, it serves as a virtual bank account for individuals. Lastly, … Read more
Welcome back to The Interchange, where we take a look at the hottest fintech news of the previous week. If you want to receive The Interchange directly in your inbox every Sunday, head here to sign up! Due to the U.S. holiday, this is an abbreviated edition. Buy now, pay later comeback Both Klarna and Affirm, known … Read more
Lamine Zarrad Contributor Lamine Zarrad is CEO and founder of StellarFi, a credit-building tool helping Americans boost their credit scores and overall financial health. My journey from being a humble immigrant to becoming a marine and, subsequently, a successful entrepreneur is a testament to the American Dream in action. According to the SBA, veterans are … Read more