Historically, most BNPL solutions have been B2C payment plan options delivered by companies like Klarna, Affirm, Afterpay, and many others. Now, traditional banks are venturing into this space by partnering with startups that enable them to offer new lending products under their own brand.
In this brief, we highlight leading examples of these partnerships, including:
- Ohio-based Jifiti has partnered with Citizens Bank, one of the oldest banks in the US, to provide a POS financing option to retailers.
- TD Bank is working with Amount, a digital banking startup, to allow bank customers to apply for loans via its mobile platform and get decisions in as little as 1 day.
To learn more about the state of B2B BNPL and what’s next, read the full brief here.
This brief is based on data from our Q2’22 State of Fintech report, which you can grab for free here.
POV on the mPOS market
Mobile point-of-sale (mPOS) technology is an area that CBI analysts believe payments leaders should be prioritizing, and here’s why.
mPOS is a tech solution that not only turns any smartphone or tablet into a cashless cash register, but can also offer additional features such as:
Custom loyalty programs with a variety of discounts and promotions
Connectivity with multiple processors, POS terminals, and other devices
Contactless and digital payments via credit/debit card, Apple Pay, or Google Pay
Secure tap-to-pay acceptance