Fintech PR
Sezzle and The Center for Generational Kinetics Release Groundbreaking Study on Gen Z, Millennials and their Relationship with Money, Credit, and Payments
Sezzle Inc. (ASX:SZL) (Sezzle) // Sezzle, the leading North American, purpose-driven, payments platform, together with the Center for Generational Kinetics, a global leader in generational research, announced the results of a landmark nation-wide survey of young consumers, providing new insights into how younger generations of consumers think about personal finances, credit products, and payments.
The results, which were released to leading eCommerce merchants, retailers and select media in an invitation-only webinar, highlighted a number of trends that provide a roadmap for the future of the retail sector as it begins to reposition itself in the wake of COVID-19.
The national survey, conducted by The Center for Generational Kinetics, is the first of its kind. The study focused on understanding Gen Z and Millennial consumer attitudes towards the booming “Buy Now, Pay Later” trend, which has taken off since being introduced to the U.S. a little more than four years ago. More than 1,200 adults between the ages of 18 and 64 were surveyed by CGK between February 27, 2020 and March 2, 2020.
“A product of growing up after the Great Recession, Gen Z is wary of credit and worries about their finances more than any other generation. For retailers, it is critically important to understand how these unique attitudes shape young consumers’ attitudes,” commented CGK President and renowned generational expert, Jason Dorsey, whose firm partnered with Sezzle on the study.
“The data couldn’t be more clear: Millennials and Gen Z consumers want options when it comes to how they pay. By 2023, I predict 95% of all direct-to-consumer retailers will be offering some form of installment-based payment solution for both online and in-store checkout,” Mr. Dorsey predicts.
“We built Sezzle to give Millennial and Gen Z consumers an alternative budgeting tool that allows them to pay for purchases over time without all the pitfalls of traditional credit products,” said Sezzle CEO and co-founder, Charlie Youakim. “This CGK research really reinforces why our product fits the evolving payment needs of younger generations of shoppers.”
Installment-based payment programs have long been a staple of the retail sector in countries all around the world from Brazil to Australia to the UK and continental Europe. Based on the CGK study, over 90% of Gen Z and 95% of Millennial consumers are aware of installment payment options. However, largely due to the long-standing predominance of credit cards in North America, alternative payments are just now beginning to take off in the US and Canada as younger consumers find themselves sidelined by the traditional credit market.
The survey conducted in partnership with CGK is the first comprehensive and publicly-released study to delve into the rapidly accelerating installments-based payments sector. The results of this seminal study provide a range of insights into how each generation of consumers approaches personal finances, credit, and payments.
Several other key insights support the consumer viewpoint that installment payments should be on the forefront of every retailer’s mind. Sezzle and CGK uncovered the following consumer stats relating to installment payments:
- Consumers are using digital payment services (75%) more than traditional banking apps (67%);
- 81% of consumers indicate that they would at least sometimes use installment payments if they were available with 63% of Millennials either loving or viewing installment payments as a helpful option;
- Over half (53%) of consumers are likely to use installment payments if it is available at their favorite store;
- If installment payments were offered, 60% of consumers would try a new store or website and 65% of consumers would shop more often;
- Installment payments with no fees or interest is the most ideal feature for consumers
- Consumers are far more likely to use an installment payment solution if it helps build their credit.
Chris Dolan, VP of Partnerships at Sezzle, who will lead the webinar along with Mr. Dorsey notes, “We had already seen the positive impact that installment payments have had on converting shoppers into buyers. This study went beyond the transactional data to bring to light some of the additional benefits retailers gain from offering installments to their customers in terms of trust, satisfaction, and loyalty.”
Key Links
- The Future of Payments, a landmark nation-wide study which sheds light on Gen Z and Millennial consumer behaviors and sentiments towards spending, credit, and payments.
- Members of the media and other interested parties can sign up for the Sezzle and CGK webinar here.
- Sezzle will be releasing additional data and insights from its on-going research initiatives to its merchant partners, some of which will be shared with select media. Additional information related to Sezzle’s and CGK’s joint “Future of Payments” study can be accessed here.
- Follow Sezzle on LinkedIn for the latest data and market insights from the company. For more of Sezzle’s proprietary research, visit the Sezzle Research Center.
- Merchants and retailers interested in learning more about Sezzle can learn more here.
- Consumers interested in signing up to use the Sezzle platform can learn more here.
Fintech PR
CCTV+: From Silk Road Gateway to Global Innovation Hub: Xi’an Advances Industrial Upgrades and International Cooperation
XI’AN, China, Nov. 2, 2024 /PRNewswire/ — Xi’an, an ancient capital and starting point of the Silk Road, is growing rapidly into a cosmopolis of technological innovation, industrial transformation and international cooperation. The city is becoming a global hub for innovation and economic cooperation and a destination that converges historical heritage with modern creativity. By leveraging initiatives in New Quality Productivity, the Internet of Things, high-tech industries, culture, and international business services, Xi’an showcases its dynamic blend of past and future.
Industrial Development: Technology and Innovation Drive Emerging Industry Clusters
Aiming to establish itself as an international hub with rapid scientific and technological innovation, Xi’an is now building a comprehensive national science center and a center for science and technology innovation.
The Silk Road Technology City is now home to more than 4,000 companies and has fostered two major industry clusters, in optoelectronics and automobiles, each worth tens of billions. Leading industry giants like BYD and Samsung have established themselves here, taking advantage of Xi’an’s robust policy support for innovation-led growth. LONGi, a world leader in solar technology, is actively building Shaanxi’s 100-billion-grade silicon-based solar PV industry innovation cluster, driving industry-wide growth through R&D and supply chain expansion; while BYD’s comprehensive new energy vehicle industry chain has also positioned Xi’an as a key base for new energy technology and electric vehicles.
Belt and Road Hub: Connecting Development Across Borders
As a central hub along the Belt and Road, Xi’an recently hosted the Belt and Road Forum for International Think Tank Cooperation, fostering collaboration and advancing connected, networked development through the trans-Eurasian transport corridor. With growing trade opportunities, Xi’an is also expanding its reach into international markets, particularly in Central Asia, exporting specialty agricultural products like kiwi fruit.
Through conventions and conferences, Xi’an has demonstrated its significant potential for international economic cooperation, establishing stronger ties in Central Asia and Belt and Road countries.
New Quality Productivity: Smart Technologies and Advanced Manufacturing Fuel Growth
New Quality Productivity is driving Xi’an’s high-quality development leveraging smart technologies and intelligent manufacturing. Local enterprises like SUNNYIT are promoting innovative applications of IoT technologies to tackle industry bottlenecks, Xi’an Chinastar M&C Limited is supporting real-time urban management with products including smart manhole covers and parking monitoring systems to support urban safety and municipal services.
Industrial robots and intelligent manufacturing are also accelerating Xi’an’s industry transformation. Xi’an Aerospace Automation’s 4,000-kilogram robot, designed for warehouse logistics, highlights the city’s advancements in high-load, high-precision applications.
High-Quality Development: Digital Technology Empowers Xi’an’s Smart City Ambitions
Xi’an is progressing in smart city development, enabling companies to utilize big data and AI for comprehensive traffic analysis, enhancing traffic management efficiency, and establishing a “transportation+” multi-scenario service system to improve travel experiences.
Xi’an looks to cooperate with more companies and research institutions in fields of environmental protection, water-related affairs, education, and urban management with the goal of promoting technological breakthroughs in areas such as intelligent video analysis and large-scale AI models, empowering city management and services through digital technologies and support the development and innovation of companies in the city.
Opening Up to the World: Xi’an Shares Its Story and Strengthens Business Environment
The newly established Xi’an International Communication Center shares Xi’an’s story in multiple languages, promoting Chinese culture and positioning Xi’an as a major platform for cultural exchange. Additionally, a legal service center in Xi’an Chanba International Port now offers comprehensive legal support, fostering a fair and just international business environment.
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View original content:https://www.prnewswire.co.uk/news-releases/cctv-from-silk-road-gateway-to-global-innovation-hub-xian-advances-industrial-upgrades-and-international-cooperation-302294686.html
DUBAI, UAE, Nov. 2, 2024 /PRNewswire/ — KuCoin, a global leader in the cryptocurrency exchange arena, is thrilled to announce its active participation at this year’s premier TON community event, The Gateway. The annual conference, renowned for uniting key players in the TON ecosystem, aligns perfectly with KuCoin’s mission to democratize cryptocurrency and expand its reach across the globe.
Representing KuCoin at the event was Alicia, who took part in the insightful panel discussion on “Perspective Sectors on TON for VCs and Exchanges.” Her presence underscored the vibrant potential of the venture capital market within emerging blockchain technologies, particularly the TON ecosystem. Alicia’s discussion highlighted how TON’s seamless integration with Telegram presents unique opportunities for innovation and user engagement, resonating with KuCoin’s strategic initiatives to bridge social connectivity with financial transactions.
“TON’s integration with Telegram not only simplifies the user experience but also amplifies it, making it a gateway for millions to engage with Web3 technologies,” Alicia stated. She emphasized KuCoin’s commitment to leveraging this synergy to enhance secure, user-friendly trading experiences, thus furthering its mission of putting crypto in every pocket.
KuCoin’s participation in The Gateway event reinforces its dedication to fostering a secure, robust, and accessible trading environment, paving the way for a new era of crypto and blockchain integration.
About KuCoin
Launched in September 2017, KuCoin is a leading cryptocurrency exchange with its operational headquarters in Seychelles. As a user-oriented platform with a focus on inclusiveness and community engagement. It offers over 800 digital assets across Spot trading, Margin trading, P2P Fiat trading, Futures trading, and Staking to its 36 million users in more than 200 countries and regions. KuCoin ranks as one of the top 6 crypto exchanges. KuCoin was acclaimed as “One of the Best Crypto Apps & Exchanges of June 2024” by Forbes Advisor and has been included as one of the top 50 companies in the “2024 Hurun Global Unicorn List”. Learn more at https://www.kucoin.com/.
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View original content:https://www.prnewswire.co.uk/news-releases/kucoin-shines-at-the-gateway-event-advocating-for-blockchain-innovation-through-ton-302294685.html
Fintech PR
UBS Asset Management launches its first tokenised Money Market Fund, available through DigiFT
SINGAPORE, Nov. 2, 2024 /PRNewswire/ — UBS Asset Management, launches its first tokenized investment fund “uMINT”, made available through authorized distribution partner, DigiFT.
With DigiFT, investors can subscribe to uMINT using their preferred custody wallet solution, gaining access to real-time redemption capabilities via DigiFT’s platform. uMINT, a Money Market investment underpinned by high quality money market instruments based on a conservative, risk-managed framework, is built on Ethereum distributed ledger technology and issued under UBS Tokenize, UBS’s in-house tokenization service, a full service offering for digital asset services, that seeks to open the door to the world of decentralized finance to a broader range of market participants.
“We’re honoured to be an authorized distribution partner for UBS Asset Management in launching their first tokenized money market fund. This is a significant milestone in the world of Web3, and a testament of our ability to transform capital markets. Not only does this partnership bridge traditional finance with digital and decentralized technologies, it also demonstrates our ability to deliver next-generation investment solutions on an open network – for a new generation of global investors,” said Henry Zhang, Founder & Chief Executive Officer of DigiFT.
As part of the partnership, DigiFT will provide infrastructure for managing and monitoring on-chain distribution activities and transactions for the new tokenized money market fund. Enabled by blockchain technology, DigiFT’s best-in-class, open infrastructure ensures all transactions are stored and recorded on an immutable ledger, providing real-time operational and audit visibility. Beyond streamlining administrative processes, DigiFT is able to leverage smart contracts and facilitate automated compliance and operational efficiencies, further allowing investors to invest and explore new financial Web3 use cases.
DigiFT is the first exchange deploying smart contract methods and processes, with an automatic market-making mechanism, to be recognized as a Recognised Market Operator (RMO) and awarded the Capital Markets Services (CMS) license by the Monetary Authority of Singapore.
Disclaimer: This article is not an advertisement making an offer or calling attention to an offer or intended offer
About DigiFT
DigiFT is the first exchange for on-chain real-world assets to be licensed by the Monetary Authority of Singapore. Find out more www.digift.sg
For media enquiries, please contact [email protected]
View original content:https://www.prnewswire.co.uk/news-releases/ubs-asset-management-launches-its-first-tokenised-money-market-fund-available-through-digift-302294683.html
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