Capital One Financial Corporation (COF)
- Zacks
Capital One (COF) Plans to Test 'Buy-Now Pay-Later' Service
Rising competition and surge in demand for buy-now pay-later service drive Capital One (COF) to test this product.
- Reuters
Capital One to test 'buy now, pay later' product this year, CEO says
Credit card issuer Capital One Financial Corp will test a "buy now, pay later" product this year as competition for consumer loans builds from financial technology firms providing merchants with easy ways to offer cheap financing for purchases. "We will be testing a beta version of our own 'buy now, pay later' product," Capital One Chief Executive Richard Fairbank said at a Barclays investor conference on Monday. Fairbank said Capital One's test will include point-of-sale loans for customers at a "select set of merchants" with which it already has relationships.
- Bloomberg
Capital One Testing Buy-Now, Pay-Later Option to Battle Affirm
(Bloomberg) -- Capital One Financial Corp. will test a new buy-now, pay-later service as consumers flock to the options that let them split up a purchase and pay it off over time. The company will begin beta testing the product with some of its existing customers at select merchants later this year, Chief Executive Officer Richard Fairbank said Monday at an investor conference. He declined to share more beyond saying the new offering wouldn’t be linked to the firm’s private-label credit-card bus
