Splitit’s approach in the service economy is to construct an orchestration layer that lets customers pay for purchases over time using cards. “We’re expanding our service offering with more capabilities via the processor and the issuer based on the demand by these various players,” John Beisner, head of client success at Splitit, said. Among the near-term initiatives lies the ability to let processors participate in the transaction and give the issuer channels through which to make direct offers to the consumer amid a merchant interaction. As to the changing dynamics in the competitive arena of installment payments, Beisner said, “you’ve got the typical buy now, pay laters. You also have bank financing offers and other FinTechs involved in making financing offers to consumers.” “We think that by orchestrating that, bringing it into a single experience… we’re doing that at a level where it’s not just eCommerce, but it’s also for in-store transaction,” he said. “So, we’re trying to bring all of that together and provide a very focused capability to enhance the consumer experience. We’re also making sure that we maintain the relationship between the merchant and the consumers.” Consumers, in turn, discover that they can manage their funding more adroitly and find the spending power to “upgrade” their purchases to bigger-ticket choices as they don’t have to take out new loans to do so, he said. “We’re spending time getting out front of the transactions so that the consumer understands that they have options and that these are not loan-based options,” Beisner said. The checkout experience remains the same, as consumers enter their card details (or if they are already registered with a merchant, one-click checkout is an option). Splitit is also adding digital wallets to the mix, including Google Pay, Apple Pay and Samsung Pay, he said, “where the merchant does not even need to be signed up, where the customer can walk in with their wallet into any storefront and make a purchase — and then decide how they want to split those payments up,” he said. Splitit will also be rolling out a service where the merchant and the consumer share in the cost — “and we’ll still be using the ‘open to pay’ on a card to make that decision,” rather than a new loan, he said.
LendingClub is buying AI-powered spending intelligence platform Cushion that ingests users’ bank transactions and purchase data to help them track their bills, make on-time payments, manage subscriptions, build credit, and monitor BNPL loans
LendingClub announced the acquisition of intellectual property and select talent behind Cushion, an AI-powered spending intelligence platform, providing a natural complement to LendingClub’s suite of mobile financial products and experiences. Cushion’s AI-powered technology ingests users’ bank transactions and purchase information to help them track their bills, make on-time payments, manage subscriptions, build credit, and monitor BNPL loans. Scott Sanborn, CEO of LendingClub said, “Cushion’s technology complements our DebtIQ experience to provide our members with the tools and information they need to take control of their debt and spending. With credit card balances and interest rates at historic highs and consumers seeking ways to keep more of what they earn, the need for our solution has never been greater.” Adopting Cushion’s technology will eventually allow LendingClub to provide much-needed visibility into a consumer’s financial obligations beyond traditional credit monitoring. It builds on LendingClub’s acquisition of Tally in Q4 2024, which will simplify credit card management, help users optimize payments, reduce interest, and improve credit health.
NielsenIQ report shows 59% of U.S. consumers open to buying more private label products if a larger variety were available while 72% think private labels are good alternatives to name-brand products
New data from NielsenIQ reveals that consumers are open to increasing their spending on store brand products if more items were available. In NIQ’s report, 59% of U.S. consumers say they would buy more private label products if a larger variety were available. The report also found that 72% of consumers said private labels are good alternatives to name-brand products, with 75% saying store brands are a good value for the money. At retail, consumers said they are most likely to purchase private label products at supermarket/grocery stores, dollar stores, discount retailers, and pharmacy/drug stores. Additionally, 59% of consumers said they trust store brands since they are endorsed by the retailer. That level of trust is consistent across four key demographic groups, with 58% of Baby Boomers, 55% of Gen X, 63% of Millennials, and 62% of Gen Z saying they trust private label brands. With annual sales of private label products up 4.1%, according to NIQ, nearly half of consumers (49%) said they’re likely buying more private label products than ever. The rate of sales growth for private label is outpacing the Top 100+ national brands (+2.4% annual sales growth), the Top 11-100 national brands (+2.3%), and the Top 10 national brands (+1.7%). The Nielsen report also highlighted the price differences between private label and national brands across several key categories. As a whole, branded products on average are sold at prices that are 19% higher than store brands.
Affirm expands beyond Experian to begin reporting all its pay-over-time loans to TransUnion but transactions will not be factored into traditional credit scores nor visible to lenders in the near-term
Affirm is expanding the credit reporting of its pay-over-time products to TransUnion. All Affirm pay-over-time loans issued from May 1, 2025 onward, including Pay in 4 and longer-term monthly installments, will be reported to TransUnion. Consumers will see details about all Affirm transactions on their TransUnion credit files, though these transactions will not be factored into traditional credit scores nor visible to lenders in the near-term. As more pay-over-time providers report account information to the credit bureaus, lenders who request TransUnion credit reports will also be able to view consumers’ pay-over-time history. In the future, as new credit scoring models are developed, this information may factor into consumers’ scores, with the aim of supporting more informed lending decisions and helping consumers build their credit histories. TransUnion research found nearly 40% of consumers who haven’t used buy now, pay later are likely or very likely to use them in the future. Notably, a higher 53% of non-users would be likely or very likely to use them if it had the potential to have a positive impact on credit scores.
SitusAMC supports originators in the residential real estate market using a globalized network of 3rd party partners to tackle everything from initial and re-distributed disclosures to potential Adverse Actions
SitusAMC — a top-of-the-line provider of investment advice, talent solutions, and digital tools — offers a rare opportunity for lenders and investors. SitusAMC views the primary market through a secondary market lens — and that comprehensive approach is invaluable to originators. SitusAMC’s solutions help lenders and investors handle originations, secondary markets transactions, MSR and portfolio management, and valuations without compromising marketplace agility. Digital tools and technology are only the tip of the spear regarding SitusAMC’s solutions. Lenders and investors can rely on the company for expert-level advice concerning underwriting, investment, securitization, servicing, asset management, and more. Between residential and commercial market professionals, SitusAMC can guide all financiers toward increased profit, efficiency, and sharper analytics. SitusAMC offers several services designed to tackle each task and component via a globalized network of third-party employees and partners. Regarding origination support in the residential real estate market, SitusAMC’s global staffing solutions tackle everything from initial and re-distributed disclosures to potential Adverse Action (HMDA). Pre-underwriting, underwriting, and condition clearing are also key component services that clients can access.
Clients can maintain contact with SitusAMC via dedicated Client Relationship Managers that connect mortgage professionals to the company’s team — allowing for clear, consistent communication. For specific loan types like federal loans, SitusAMC offers advisory and consulting services for originators offering federal loan products, subject to frequent changes over time. These services also include an operational readiness assessment. Overall, component services allow internal loan processors to focus on relationship building. Most processors handle a pipeline of 25 to 30 loans. However, outsourcing can bump that load up to 50 loans and beyond.
Goldman Sachs-backed firm triples sales after US tariffs – TheStreet
Back Market, is a France-based operator of a global marketplace for refurbished electronics, including laptops and smartphones, aiming to help people do more with what they already have to avoid unnecessary carbon emissions and reduce tech waste. To date, it has sold more than 30 million refurbished devices across 17 markets, avoiding approximately 1.6 million tons of carbon emissions. Over the years, Back Market raised money from high-profile investors such as Goldman Sachs, Aglaé Ventures (the venture arm of Group Arnault), and Eurazeo Growth. The platform is available in 13 European countries, Australia, Japan, South Korea, the UK, and the United States. The company’s CEO Hug De Larauze told that Back Market sales have tripled in a single week amid Trump’s tariff announcement. “Maybe some people rushed into [replacing their smartphones or computers] earlier, because they were afraid it’s going to cost so much more weeks from now,” de Larauze said. According to Hug De Larauze, it is possible that more Americans could start choosing used or refurbished devices if tariffs raise prices. “This is a big opportunity to change the way American people consume this stuff, because the incentive has never been as high to avoid those tariffs,” he says. Dan Ives, Wedbush Securities’ global head of technology research, agrees that prolonged tariffs could result in a significant jump in short-term sales of used and refurbished devices, especially smartphones. However, in the longer run, Ives is skeptical that a typical American consumer would permanently shift to refurbished alternatives. “We believe 80% to 90% of consumers like buying a new smartphone, [and] buying behavior is hard to change,” Ives says. Some analysts estimate that tech conglomerates such as Apple might need to raise their prices by hundreds of dollars per product, depending on the eventual electronics-specific tariffs. If that happens, it will be interesting to see how a typical American consumer would remain faithful to the habit of buying new devices.
Lowe’s launching omnichannel initiative that blends social media posts, mail and poster, to express gratitude to first responders and volunteers who rebuild its hurricane-damaged store
Lowe’s Companies Inc. is celebrating the reopening of a hurricane-damaged store with a nationwide initiative to show gratitude to first responders, volunteers and nonprofits. As the home improvement giant prepares to reopen its East Asheville, N.C. store, which was heavily damaged by Hurricane Helene, the company is asking consumers nationwide to help share one million “thank yous” for personnel who help rebuild after disasters by May 2. Lowe’s is calling the effort “#BuildThanks.” To participate, consumers can post a message of gratitude on social media using the hashtag #BuildThanks. They can also deliver or mail a thank you poster, sign or note to Lowe’s East Asheville, N.C. store on Tunnel Road, with sample signs available for download at the Lowe’s corporate site. Lowe’s will post the culmination of the initiative on its social media channels on Saturday, May 3. The retailer invested nearly $14 million in response and recovery efforts in the wake of Hurricanes Helene and Milton and $2 million to support wildfire relief in Southern California. The wildfire donation assisted first responders and nonprofits that responded to critical needs such as supporting evacuations, emergency shelter and distributing urgently needed supplies like water, N95 masks, air purifiers, ash sifters and storage.
Manychat provides a tool for managing and automating conversations and engagement across multiple messaging channels using platform-specific APIs
Startup Manychat provides a tool for managing and automating conversations and engagement across multiple messaging channels. Manychat’s CEO and co-founder, Mike Yan, said the company sends “billions” of messages annually on behalf of these users across TikTok, Instagram, WhatsApp, Messenger, and other chat platforms. Manychat’s trajectory mirrors both the rise of smartphone-based messaging apps over the last decade and the growing opportunity around tools that help businesses leverage that medium in a better way. Things started to take off when Facebook opened up its APIs for Messenger. Additional APIs opening up across other Meta-owned platforms as well as TikTok have boosted that growth. Users can still market on Telegram, too, Yan said, although these days that is just a small percentage of its traffic. Instagram is by far the most engaged and active platform for the company, Yan said. Manychat’s approach of building an engagement layer makes it a solid bet for the next wave of activity on messaging platforms. If you want a help desk chatbot, there are myriad tools out there, but very few that are engaging to sell or elicit other responses from users in the way that Manychat has done.
Etsy’s new tool for sellers lets them determine which listings would benefit most from a refresh with help from a seller visibility dashboard
Etsy Inc. is rolling out multiple new technology-based enhancements to the back-end experience it offers sellers. New photo tools enable Etsy sellers to upload and edit photos directly on the e-commerce retailer’s site or seller app using editing tools that process in the background so sellers can work on other tasks without interruption. Sellers can also create and save custom photo filters, see all listing categories and subcategories directly in the seller app, and determine which listings would benefit most from a refresh with help from a seller visibility dashboard. In addition, Etsy is beta testing real-time listing quality feedback alerts on issues that could impact a seller’s search ranking before they publish with select sellers. Etsy has also enhanced key features of its Shop Manager platform. Now it’s easier for sellers to find information like stats and orders, and recent activity has moved to its own dedicated tab. Sellers with an active shop in the U.S., Canada, U.K and Australia, along with some high-volume sellers in other regions and sellers with an all-star rating can now reach Etsy support directly from Shop Manager. The orders page now loads faster and the sales & discounts page now loads 40% faster. Messages now load faster in the Etsy seller app. Updates in the seller app allow Etsy to better see which pages are slow or crashing, enabling it to test and make improvements faster. Improved ad placement within buyer search. Shop home page layout updates are being tested to make seller inventory easier to browse and shop for buyers.
Sesh’s fan engagement platform lets artists send direct push notifications to their fans’ phone wallets and direct them to a new music release, exclusive merch drop, VIP event invite or presale tickets
Sesh, a fan engagement ecosystem that connects people with their favorite music artists, announced it has raised $7 million. Sesh foster connection by connecting fans with interactive experiences, exclusive content and live events. Additionally, the company is launching its Member Card, allowing fans to register and seamlessly download a digital pass to their phone’s wallet—no app required—becoming an official part of their favorite artist’s community. For the first time, artists can send direct push notifications to their fans’ phone wallets, going beyond the access streaming platforms and social media channels provide. Artists can direct audiences to a new music release, exclusive merch drop, VIP event invite or presale tickets directly within the ecosystem. With Sesh, artists get access and a direct line to their fans, including full ownership of essential data such as email, location, name, date of birth and engagement insights, empowering creators to own and cultivate their audience relationships without relying on third-party platforms. By providing tools for direct engagement, including integrations with Spotify and TikTok, Sesh helps artists grow and strengthen their fan communities.