The Buy Now, Pay Later trend, which gained prominence as a customer payment option during the Covid pandemic, continues to gain momentum. Certegy Payment Solutions LLC announced Monday that it is running with Tempe, Arizona-based Ionia and its rewards platform to offer a BNPL service that leverages Certegy’s threat control technology. At the same time, BNPL giant Klarna Bank AB introduced Klarna Spotlight, a search engine that allows customers to locate the most productive costs for the products they are looking to buy.
Clearwater, Florida-based Certegy, which says it maintains a network of BNPL merchants connecting to more than 65,000 physical retail outlets and 75 online sellers, is adding Ionia’s Pay Later financing technology, which is presented through a rewards app called CrayPay. Partners say Mobile apps introduced through other Ionia partners will be added “soon. “
The partners provide the commercial base as the largest BNPL network in the United States, reaching a point in the acquisition schedule.
“As the holiday season begins, it’s a critical time for consumers to have access and flexibility to virtual payment. Thanks to our partnership with Ionia, tens of thousands of merchants can now offer their consumers the benefits of BNPL, adding convenient and interest-free payment plans,” Greg Lipari, vice president of strategy and business development at Certegy, said in a statement.
Meanwhile, Klarna, which has a significant share of BNPL’s U. S. market, says it is strengthening its share with the arrival of a search tool called Klarna Spotlight. The tool, available on the Klarna app and on the company’s website, compares costs between merchants and allows shoppers to search based on criteria such as color, size, features, visitor ratings, availability and shipping options. The company says its app, which was introduced about a year ago, has attracted more than 23 million per month. active users. The Sweden-founded company said in February that its BNPL service has attracted more than a hundred million active users worldwide and is available at some 250,000 retail companies.
The Buy Now, Pay Later feature allows shoppers to pay for their purchases over time, in installments over an era measured in weeks, interest-free.
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