25th November 2021 - Credit Connect

Payment software firm acquired by Secure Trust Bank

25th November 2021 Alternative Consumer Lending |

Secure Trust Bank PLC (STB) has announced that it has agreed to acquire AppToPay, owner of a proprietary technology platform to support STB’s planned entry into the digital Buy Now Pay Later (digital BNPL) market. STB, through its V12 Retail Finance business, is already a provider of point-of-sale retail finance, with a network of more…

One in ten relying on Buy Now Pay Later for Christmas

25th November 2021 Alternative Consumer Lending | #BNPL

Almost one in ten people in UK (9%) are planning on using Buy Now Pay Later (BNPL) for part of their Christmas shopping, Citizens Advice has found. Out of the 43% resorting to borrowing to help cover Christmas this year, one in five said they’ll be turning to BNPL to pay for at least part…

Western Europe’s overdue payments amount to 53% of total value of invoices

25th November 2021 Commercial Collections and Recoveries | #late payment

New research by credit insurer, Atradius has highlighted increasing insolvency risks in customer markets within Western Europe. The report has indicated that for Western Europe as a whole, overdue payments amounted to 53% of the total value of invoices, an increase on last year’s 47%. The percentage of write-offs increased from 7% to 10% of…

The importance of improving financial education

25th November 2021 Industry opinion |

It was mentioned by one of the panelists at the Credit & Collections Technology Think Tank in early November 2021 that it’s really important to improve financial education, do you have any ideas how to do this, who it would be targeted to, and when? There seems to be an expectation that consumer/end user knowledge…

Government support of Bulb set to cost £1.7bn

25th November 2021 Business | #utilities

Government support of energy provider Bulb, which is set to continue to operate under a Special Administration Regime (SAR), is set to cost £1.7billion. The funds will allow Bulb to continue supplying energy to customers. Bulb will be run by administrator Teneo until a buyer can be found or until its customers have moved. A…

Use of BNPL hits all-time high, as shoppers look to spread the cost of festive period

25th November 2021 Alternative Consumer Lending | #BNPL

More than a quarter (28%) of UK shoppers are now regularly using Buy Now Pay Later (BNPL) services to spread the cost of purchases, and thousands more will be doing so for the first time as the festive season approaches according to new data from Equifax. The research has revealed just how much of consumers…

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