Buy now pay later

BNPL lender Klarna officially revived its highly anticipated IPO, and cryptocurrency exchange Gemini also announced plans for a public offering. The offerings follow Chime and Circle's blockbuster IPOs in June.

Buy now/pay later lender Affirm hit profitability goals for its fiscal year 2025 and set aggressive guidance for fiscal 2026 ahead of Wall Street's estimates. Its stock soared more than 10% Friday.

By using a public blockchain, a potential digital euro could be made more widely available. Plus, Klarna expands its merchant reach as it resurrects plans for an IPO, Binance faces an audit and more in the American Banker global payments and fintech roundup.

The Swedish financial institution will sell future buy now/pay later originations to Nelnet. Also, RBC and BMO may sell their payments joint venture; and other news in the global payments and fintech roundup.

The Consumer Financial Protection Bureau dropped an investigation into Credova Financial, a buy now/pay later lender focused on gun financing and subsidiary of PSQ Holdings, where Donald Trump Jr. serves on the board.

The American Fintech Council requested a 30-day extension for buy now/pay later providers to submit information about their businesses to the New York Department of Financial Services. New York is the first state to institute a law specifically regulating BNPL.

The payment company is collaborating with Brazil's national real-time payment network to reach more e-commerce merchants, while adding Affirm as an option to its in-store point of sale system. That, and more in the American Banker global payments and fintech roundup.

The lender, which uses existing credit balances to fund installment loans, has linked to Samsung Pay and plans other partnerships in the future to build a global merchant network.

Affirm and FICO earlier this year took the first steps to incorporate buy now/pay later loans into consumer's credit reports. But it will be some time before lenders start making credit decisions based on the short-term installments, even if holdouts like Afterpay and Klarna decide to report to the credit bureaus.

As the payment technology company diversifies revenue streams, buy now/pay later was a key driver in beating analysts' estimates for Marqeta's second-quarter earnings.