Apple is getting into the buy now, pay later space with a few tweaks to the existing model including no option to pay with a credit card. The company will roll out the product to some consumers this spring, and will begin reporting the loans to credit bureaus in the fall. Here's what you need to know. Since the start of the pandemic, the option to buy now, pay later has skyrocketed in popularity, especially among young and low-income consumers who may not have ready access to traditional credit. If you shop online for clothes or furniture, sneakers or concert tickets, you've seen the option at checkout to break the cost into smaller installments over time. Companies like Afterpay, Affirm, Klarna, and Paypal already offer the service, typically with late fees for missed payments and the option to use a credit card or bank account to make installment payments. Apple's version, which is integrated with Apple Pay and facilitated by MasterCard, will require the consumer use a debit car
The scheme started in August 2021 to provide support to youths who lost their livelihood owing to the pandemic
According to the LRS, which was introduced in 2004, all resident individuals, including minors, are allowed to freely remit up to $250,000 per financial year
The product will offer users 5% cashback on Flipkart Wholesale online spending. Members can apply for the card directly at Flipkart Wholesale stores and on its Best Price Flipkart Wholesale app
At present, BoB holds 100 per cent in the entity
RBI data showed that credit card outstanding in January 2023 stood at Rs 1,86,783 crore as against Rs 1,41,254 crore in January 2022
Earlier, IRCTC has only partnered with SBI and Bank of Baroda for this travel segment of the card
Moreover, a user on Twitter shared a screenshot of the story in which the CEO responded to the question
Cross Rs 1 trillion for 11th month in a row
American Express saw its fourth-quarter profits fall by 9 per cent, as the credit card giant had to set aside significantly more money to cover potentially bad loans. The company saw charge offs and delinquencies rise, a troubling sign for a company whose customer base is usually well-to-do and extremely creditworthy. But the company did announce it planned to raise its quarterly dividend and also forecast higher-than-expected profits for 2023, which helped lift the stock in early trading as investors seemed to look past the delinquencies and more at how cardmembers were still strongly spending on their accounts. The New York-based company said it earned a profit of USD 1.57 billion in the quarter, or USD 2.07 a share, that is down from USD 1.72 billion, or USD 2.18 a share, in the same period a year earlier. That is below what analysts had forecasted. While AmEx saw a double digit rise in card usage from a year ago cardmembers spent USD 413.3 billion on their cards last quarter
Net card addition fell substantially in December to 580,000
Monthly spending is more than Rs 1 trn again, led by the rising share of e-commerce transactions
Six men were arrested from a hotel located on the Mehrauli-Gurugram road for allegedly cheating HDFC Bank credit card holders of Rs 1.61 lakh, the police said on Monday
The bank wants to double the current pace of half a million new credit card issuances every month, according to Parag Rao, country head for payments business
Beware that on some expenses you could be levied a fee for card usage
Attributes trend to value-added services such as EMI and BNPL which are allowing consumers to use cards for big-ticket transactions, as opposed to small-ticket earlier
The bank said for select products and vouchers, redemption of reward points will be capped at 70 per cent of the total value, but this is not applicable for Infina and Diners Black cards
Credit Card bill payment platform Cred on Tuesday said it has acquired SaaS lending-as-a-service platform CreditVidya in a mix of cash and stock transcation for an undisclosed sum.
This comes amid, several cost-cutting measures by Musk to make Twitter more profitable, including layoffs across Twitter offices around the world
When you are considering canceling a card, it should be taken into account how the cancellation of your credit card will affect your credit score