Results for: Consumer finance

Grocery giant Walmart has launched a second Buy Now, Pay Later (BNPL) program in partnership with tech firm One. This new payment option will be available at over 4,600 Walmart locations nationwide for eligible purchases between $100 and $3,000. Like other BNPL programs, One allows customers to take home items by paying only a minimum balance or percentage of the overall purchase amount. However, experts caution that these programs can carry significant financial risks for shoppers. The APR for One’s BNPL feature ranges from 9.99% to 35.99%, and missed payments can lead to debt collection and other penalties.

Goldman Sachs is continuing its exit from consumer finance by transferring its robo-investing accounts to Betterment. Last year, Goldman scaled back its consumer finance operations after significant losses. The Marcus Invest accounts and assets under management will be acquired by Betterment, but no additional accounts, technology, employees, or operations will be part of the transaction. Goldman Sachs will focus on growing its Marcus Deposits platform, which has over 3 million customers and $100 billion in consumer deposits.