New data shows non-bank lenders have grown their market share over banks. In 2016, merchants across nine categories received more than 160 million point-of-sale applications, in which a little more than half were approved. However, the practice is becoming more popular as the emerging industry accounted for $391 billion.
Read the full article from Forbes.
JPMorgan Chase Launches Into PoS Financing Space
JPMorgan Chase is entering the point-of-sale (POS) financing game with an option allowing customers to pay for larger purchases over time using fees, rather than interest-based lending. So reports Forbes.