Nandan Sheth hopes his experience as a fintech founder and as an executive with firms such as Fiserv will help the installment lender become a better partner for card issuers.
Buy now, pay later plans offered by Afterpay, Affirm, Klarna and PayPal are soaring in popularity. But convenience and affordability may come at a high price .
Now that JPMorgan Chase, Goldman Sachs, Capital One and others offer the alternative credit option, the startups that created this market are adding products to cement their hold on consumers and merchants.
The partnership combining one of the biggest buy now/pay later lenders with one of the major digital payment companies gives merchants a compelling new offering that could enable Klarna to take wallet share away from traditional card issuers.
When the social network went down, it took its entire commerce platform with it. The incident adds to recent data management snafus, and raises doubts about whether the company can build enough trust to succeed in financial services, according to technology experts.