#BNPL #SustainableFinance / Buy Now Pay Later Meets Open Banking; Payment Cards and the Post-Plastic Era

… One of 2020’s most unanticipated ecommerce trends, buy now pay later (BNPL) installment payment schemes, continues to show no signs of slowing down as the year draws toward a close. QuadPay, a BNPL innovator based in New York City… announced that it has added a new Chrome browser extension enables users to access Quadpay across all devices that can power a Chrome web browser.

Meanwhile, across the Atlantic, a U.K.-based startup that is trying out its own version of the buy now, pay later strategy has become the first BNPL outfit in the U.K. to be granted a consumer credit authorization… Zilch… specializes in using open banking data and soft credit checks to help ensure that customers who use its BNPL service have sufficient creditworthiness and can afford their purchase. The company is partnered with Mastercard, enabling the merchant-agnostic Zilch to be used as an installment payment solution wherever Mastercard is accepted.

Corn on the Card? A few weeks back we read about a $1 million investment that eco-friendly, U.K.-based search engine Ecosia made in TreeCard, a company that offers a debit card made out of wood… [Ecosia:] “each TreeCard will be unique, since the debit cards are made of sustainably sourced cherry wood.”

Not to be outdone, Swiss-based UBS has introduced a credit card made out of an equally unlikely substance: corn… the new Optimus Foundation Credit Card Eco is composed of a plastic substitute known as PLA. This substance is derived from animal feed corn, and has a biodegradability of more than 80%.

[UBS:] “The transition to a more sustainable society is one of the greatest challenges of our time… UBS wants to be a part of the solution and lead the way with innovative ideas. Our new cards, which are made without plastic, are contributing to this.”