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May 8, 2020

QuadPay teams up with Stripe to introduce buy-now-pay-later option

Payment installment platform QuadPay has joined forces with Stripe to offer buyers the buy-now-pay-later option at any outlet both online and in-store.

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What does the future hold for BNPL market?

The global Buy Now Pay Later (BNPL) market is estimated at a massive $120 million in 2021 – representing just less than 3% of the global ecommerce market. Yet the user-base is massive, with leading provider, Klarna, alone reportedly having 87 million users in 2021. This market is only expected to grow, with established companies like Apple and Goldman Sachs moving into the BNPL sector in bids to capitalize on this trend. To help you make the most of this growing market, GlobalData’s Buy Now Pay Later in 2022 and Beyond report provides detailed insight into the BNPL sector. This report:
  • Discusses the disruptive potential of the BNPL sector on the payments industry
  • Identifies the leading companies that are driving sector growth and the benefits this new payments solution provides to both merchants and consumers
  • Analyzes the consumer’s risk of using BNPL loans and government attempts at introducing regulations to the sector
  • Uncovers the main risks that consumers expose themselves to when borrowing with BNPL
Download this free report to get to know where this developing market is headed, and how you can reshape your strategies.
by GlobalData
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QuadPay app gives shoppers up to $500 on Google Pay or Apple Wallet to pay for their purchases at any merchant on a virtual card. This app is built on Stripe’s issuing infrastructure.

The company conducts an instant verification process before issuing consumers a virtual QuadPay card in their phone. It allows them to split the bill into four interest-free installments over six weeks.

Stripe head of North America revenue and growth Jeanne DeWitt Grosser said: “Stripe Issuing is helping QuadPay rapidly launch an installment offering to attract more customers, boost conversion rates and increase basket sizes. It’s core to how they differentiate their product.”

Stripe also powered payment acceptance for QuadPay installments to deliver a closed loop experience that help in warding off fraud.

To prevent fraud and manage risk at a granular level Furthermore, QuadPay is also leveraging machine learning-powered fraud tools with Stripe Radar.

Radar has been fully integrated into QuadPay’s Stripe account. It constantly adapts defenses based on Stripe’s global behavior network.

Radar blocks transactions by using metadata, and equips QuadPay with the capability to handle risk by product, installment type, and other factors.

QuadPay CEO Brad Lindenberg commented: “With Stripe we’re making it easier for brands to access more consumers.

“And for consumers, the beauty of it is that it doesn’t matter where you shop—at any brand, online or offline—QuadPay gives you the flexibility to spend how you want.”

Free Report
img

What does the future hold for BNPL market?

The global Buy Now Pay Later (BNPL) market is estimated at a massive $120 million in 2021 – representing just less than 3% of the global ecommerce market. Yet the user-base is massive, with leading provider, Klarna, alone reportedly having 87 million users in 2021. This market is only expected to grow, with established companies like Apple and Goldman Sachs moving into the BNPL sector in bids to capitalize on this trend. To help you make the most of this growing market, GlobalData’s Buy Now Pay Later in 2022 and Beyond report provides detailed insight into the BNPL sector. This report:
  • Discusses the disruptive potential of the BNPL sector on the payments industry
  • Identifies the leading companies that are driving sector growth and the benefits this new payments solution provides to both merchants and consumers
  • Analyzes the consumer’s risk of using BNPL loans and government attempts at introducing regulations to the sector
  • Uncovers the main risks that consumers expose themselves to when borrowing with BNPL
Download this free report to get to know where this developing market is headed, and how you can reshape your strategies.
by GlobalData
Enter your details here to receive your free Report.

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