Kate Fitzgerald

The industry is taking lessons from instant point-of-sale lenders to help homeowners embarking on major projects.

Rising interest rates and tightening consumer credit are likely to drive many consumers to use interest-free point-of-sale loans, putting BNPL fintechs' data-driven underwriting to the test.

Everyware, a text-based billing company reports strong demand for installment loans — due in part to the immediacy with which people respond to messages that pop up on their phones.

The California tech giant's take on pay-in-four installment loans has a top-of-wallet positioning that banks and merchants are unlikely to be able to match.

Teaming with the fintech Buy It Mobility Networks, Discover Financial Services plans to enable Automated Clearing House payments within merchant apps.

Roger Hochschild predicts consumers will keep using their Discover cards in the months ahead, particularly when shopping online.

Using data aggregation subsidiary Finicity, the card network will allow its bank and credit union partners to offer installment loans directly to consumers, who can repay from checking and savings accounts.

The card network and telco are designing systems that use 5G to support more payment processes hosted in the cloud rather than on local hardware. The goal is to make services such as autonomous checkout available to small businesses.

Banks and creditors have spent years trying to remove obstacles to presentment and payment, but some consumers say they would still rather step on a Lego brick than pay a bill, according to PayNearMe research.