Gen Yers and Zers are turning to payment services like Klarna, Afterpay, and Laybuy to help their wallets keep up with their shopping habits. But due to a lack of education regarding financial responsibility, how are these ‘buy now, pay later’ services impacting their financial futures?
Are people growing bored of fintech services? How is an abundance of banking choices hindering decisions? And what money taboos are people desperate to break? In this chapter of the 2020 Expert Outlook, we speak to three experts about people’s desire for ease and openness in finance.
Today’s teens and young adults are set to become the world’s most influential consumers within a decade, but how has growing up in the aftermath of a financial crash affected the way Gen Zers spend and save their money? What can help these digital natives improve their financial know-how?
Two out of five internet users have bought a product online. But a lengthy payment process means we often abandon purchases at the checkout. What if you could buy using just an email address and postcode? By separating ‘buying’ from ‘paying’, Klarna promises stress-free online shopping.
For many, credit scores are hard to understand. To help ease confusion, Monzo is launching an in-app feature allowing users to check their credit scores in a simplified way. As people look to tech to boost their financial literacy, apps that offer streamlined help will no doubt be appreciated.