BNPL is showing no signs of slowing down. Consumers love this fintech innovation and now everyone seems to want in on the action.
Enter Galileo, the fintech company that powers payments, card issuing and digital banking. It first launched a BNPL offering in 2022 for banks and fintechs and today it announced expanded functionality.
The key development here is post-purchase functionality. We have started to see this from banks and fintechs, where consumers can convert a credit card transaction into a BNPL payment plan.
Now, Galileo is bringing this to the broader market. They are targeting both existing lenders and those who have no lending program at all, touting this program as a great entry point into lending for deposit-focused fintechs.
I have no doubt that BNPL will continue to grow and this Galileo offering makes it easier for any bank or fintech to take advantage of this secular trend.
Featured
> Galileo Expands BNPL Offering for Banks and FinTechs
www.pymnts.com
Galileo Financial Technologies has launched an expansion of its BNPL offering. The company now lets banks and FinTechs offer cardholders new post-purchase installment payment options via their existing debit or credit cards.
From Fintech Nexus
> Top tips for businesses considering Banking-as-a-Service
By Jean-Jacques Le Bon
Despite regulatory concerns banking-as-a-service continues to grow in popularity. Here are three tips for any business considering going the BaaS route.
Podcast
Dan Arlotta, Senior Vice President of Garnet Capital Advisors on fintech loan portfolio sales
The secondary loan market has played an important role in the history of fintech lending. There are few people who know more…
Listen Now
Webinar
How Consumer Lenders Can Reduce Friction Without Compromising on Risk and Fraud Prevention
Mar 21, 2pm EDT
Customer experience is incredibly important to today’s discerning consumers, whether they are looking for financial services…
Register Now
Also Making News
- USA: YC-backed digital bank Onyx Private tells customers it’s closing their accounts
Miami-based Onyx Private, a Y Combinator-backed digital bank that provided banking and investment services for high-earning Millennials and Gen Zers, is terminating its bank operations.
- USA: Banks are in limbo without a crucial lifeline. Here’s where cracks may appear next
High interest rates and rising losses on commercial real estate threaten hundreds of U.S. banks, mostly smaller regional lenders and community institutions.
- Global: Inside HSBC’s strategy for cross-border payments
Thomas Halpin, who heads global cash management for North America, talks about real-time processing, generative AI, central bank digital currencies and why the ISO 20022 messaging standard is cool.
- USA: Elavon & BMO to bring payment solutions platform for US clients
Elavon, a US-based payment processor, has announced a partnership with BMO, a bank in North America, to provide a comprehensive and innovative payment solutions platform to the bank’s clients in the United States.
- UK: Robinhood Rolls Out App in UK, Pauses Margin Lending Addition
Robinhood Markets Inc.’s commission free trading is now available throughout the UK — though the company said an effort to add margin lending to the offering is on pause.
- Africa: Nala set out to offer remittance services, it’s building a B2B payment platform too
Payments company Nala pivoted to offer remittance service in 2021, tapping the growing money transfer market in Africa, and demand for reliable and affordable services. Nala founder, Benjamin Fernandes, said they intended to build their products on this premise right from the outset.
- UK: Revolut launches Point-of-Sale product
Revolut has rolled out a Point-of-Sale iPad application for businesses in the hospitality industry.
To sponsor our newsletters and reach 275,000 fintech enthusiasts with your message, contact us here.