New Season, New Products from Square, N26, Credit Karma, and Newcomer Sila

It’s officially Fall, and financial services companies are taking to this new season with a fresh batch of new products and services. Payments company Square today launched Square Installments. As the name suggests, Square Installments is a POS payment option that allows sellers to give customers the choice to pay for a large purchase by splitting it into fixed monthly payments over three, six or 12 months. This option is currently live in 22 states for amounts between $250 and $10,000 ranging from 0%-to-24% APR. Customers can apply online and get a response within minutes. Jacqueline Reses, head of Square Capital, said in a statement today: We’re focused on removing the complexity associated with financial products, enabling more businesses to access incredible tools that can help them grow. Square Installments delivers simple and quick financing to customers seeking greater flexibility as they make purchasing decisions. Square hopes the new offering will help customers grow their sales “significantly,” according to a company blog post. More business for its customers means more business for Square. Merchants take on no risk and are paid in full up front. A video explaining the service to sellers is here . Over the past two months, Square has been busy rolling out new products. A few weeks ago, Square launched an SDK for its card reader . Sila Also in payments news, Shamir Karkal, co-founder of digital bank Simple , today unveiled Sila, a blockchain-based payments system. Sila is an API platform and provides smart developer tools allowing users to create smart contract payments and accounts as well as process debit and credit card payments. Karkal previously headed up BBVA's API platform after the bank bought Simple. Sila is built around a token pegged to the U.S. dollar, what the industry is currently calling "stable coins." Sila will offer five APIs to start: ID Verification Link Account Issue Sila Redeem Sila Transfer Sila In other words, Sila seems to offer something along the lines of Stripe, with a touch of Ripple and Stellar. N26 Also, today, the German challenger bank N26 went live in the U.K. Valentin Stalf, CEO and co-founder of N26, said in a media statement : The U.K. is one of the most digitally advanced countries in the world... Backed by our state-of-the-art technology stack and an intuitive, user-centric design, today’s launch is the first step towards delivering the best digital banking experience possible for U.K. customers. The mobile-first bank is also currently in the process of preparing for its U.S. launch sometime early next year, FinAi News has learned. And yesterday, Credit Karma expanded its product suite further, this time into the insurance space with its latest auto policy service. Credit Karma claims more than 80 million users in the U.S. and Canada.

New Season, New Products from Square, N26, Credit Karma, and Newcomer Sila

‘Citi Bot’ to Launch in the U.S. in the Next Few Months

New Entrant Tries to Crack Digital Gifting

Related Posts

Visa, billing firms team up for AI agent payments for companies

Google Cloud power outage impacts Revolut, other online services

Huntington Bank’s 1866 Studio agents help entrepreneurs incorporate businesses

New Entrant Tries to Crack Digital Gifting

EMERGING FINTECH DIRECTORY

FinAi Podcast

SPONSORED

The Next Generation of Cyberthreats: Powered by AI

Build an Antifragile Strategy to Outperform the Market

How AI and Product Experts Turn Fuzzy Requirements Into Focused Dev-ready Roadmaps

Connect

Welcome Back!

Retrieve your password

Continue Reading with FinAi News Premium - Less than $2/Day

New Season, New Products from Square, N26, Credit Karma, and Newcomer Sila

‘Citi Bot’ to Launch in the U.S. in the Next Few Months

New Entrant Tries to Crack Digital Gifting

Related Posts

FinAi Podcast

Connect

Welcome Back!

Retrieve your password

Unlock This Article

Continue Reading with FinAi News Premium - Less than $2/Day