If you keep up with digital banking trends, you are probably aware of the innovation that is occurring within the point-of-sale (POS) financing space. Just within the past month, we have witnessed Shopify and Affirm announce a landmark partnership while AfterPay released impressive growth figures, including over 1.6M new U.S. customers in the last 4 months.
How banks can win against FinTechs in point-of-sale financing
As I continue to see these trends in my newsfeed, there are two main questions I keep asking:
- Is the point-of-sale financing trend real?
- How will banks respond?