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Exclusive: Apple enters the BNPL market as regulation, competition intensify

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Apple enters the BNPL market as regulation, competition intensify

#Apple #enters #BNPL #market #regulation #competition #intensify

During its WWDC keynote, Apple announced a bevy of changes and updates to its hardware and software. In the mix were anticipated improvements to its various operating systems and computers — and plans to expand its fintech footprint.

Apple has been growing as a consumer finance company for some time, most famously thanks to its Apple Pay service and the launch of a branded credit card in recent years. However, while it’s earned a market footprint of sufficient scale as to matter in the consumer financial technology market, it’s not considered a fintech company per se.

That could be changing. During its WWDC speech, Apple announced a new service called Apple Pay Later that will allow consumers to make mobile and online purchases sliced into four payments over six weeks at the millions of U.S. retailers that already accept Apple Pay. The offering won’t include fees or other charges, the company said, requiring only a “soft” credit check and review of the user’s transaction history with Apple.

This concept should be familiar. Often described as “buy now, pay later,” or BNPL, the installment payment method became a startup darling in recent years, with companies like Affirm (which has Stripe and Amazon partnerships) riding the consumer credit option all the way to the public markets. Klarna reached an epic scale as a private BNPL company, and we’ve recently seen Block buy Afterpay, a BNPL provider, and a merger between Sezzle and Zip.

“We are quickly seeing BNPL providers evolve into more full-featured digital wallets that include ‘pay in one’ in addition to installments, and we have seen traditional digital wallets such as PayPal add the pay-in-installment feature. So it is not surprising that Apple has added this feature,” Dayna Ford, senior director analyst at Gartner, told TechCrunch via email. “BNPL has proven to be popular among consumers and merchants as a way to increase sales. It is likely to help boost Apple Pay usage, and it is a logical extension of their growing financial relationship with Apple users.”

“Banks, lenders and merchants need not view Apple Pay Later as a threat but rather as an opportunity to carve out their own niche in what has become the payments standard.” Jifiti CEO Yaacov Martin

TechCrunch has reported on myriad BNPL startups around the world, each chasing scale with modest model variations, at times focusing on particular verticals or other forms of customer segmentation. How will all of these BNPL-focused providers fare with Apple pounding its way into their market? We got an early look at what investors are thinking, at least, when shares of Affirm sold off in the wake of Apple’s news.

But that’s just one company, one result. What about outfits like Afterpay and Affirm? Will Apple’s news upset their apple carts? And what should we consider the potential impact of Apple’s news on the smaller, regional or otherwise niche-y BNPL players that raised so very much capital in the last few years? TechCrunch wanted to find out.

Competition

It’s worth noting that the BNPL sector has been under some pressure in recent months. After Affirm’s share price came back to Earth following a period of investor fancy, Klarna was forced to change up its fundraising hopes, cutting its valuation to pursue new capital.

The company remains on the defensive. TechCrunch has written about the economics of the BNPL world here, if you would like to go deeper.

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To get a better handle on how Apple will impact the well-funded, if slightly ill market, TechCrunch reached out to — and heard back from — many of the major vendors in the BNPL space, including Affirm, Afterpay and Splitit. Klarna declined to comment.

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Exclusive: Disney Plus is Taking Longer and Longer to Stream New Marvel Movies – CNET – TalkOfNews.com

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Disney Plus is Taking Longer and Longer to Stream New Marvel Movies     - CNET

#Disney #Longer #Longer #Stream #Marvel #Movies #CNET

After the depths of social distancing pushed a wave of big-budget movies straight to streaming, theatrical exclusives are the norm again. But for a while, it seemed like Disney and other big Hollywood movie studios might be falling into a new post-COVID rhythm for how long they kept flicks in theaters before streaming them, one that was much faster in shuttling films to a streaming service than before.

But now streaming release dates are all over the map. And for the biggest films, like Marvel’s, the waits seem to be stretching out longer and longer.

Black Panther: Wakanda Forever will take longer to start streaming on Disney Plus than any other Marvel movie in the pandemic era — and that may not bode well for how long you’ll have to wait to stream the Ant-Man and Guardians of the Galaxy sequels hitting theaters soon.

When will Black Panther: Wakanda Forever start streaming? 

Disney Plus will start streaming the Black Panther sequel early Wednesday, starting at 12:01 a.m. PT/3:01 a.m. ET. Its streaming-release date is more than three months after it hit theaters. 

How long will it take to stream Marvel’s next big movies?

It’s anybody’s guess, but it probably won’t be quick. 

Last year, Marvel released three films in theaters: Doctor Strange in the Multiverse of Madness in May, Thor: Love and Thunder in July and Wakanda Forever in mid-November. Doctor Strange took 47 days to reach Disney Plus. Thor hit Disney Plus 62 days after its theatrical release.

Now Wakanda Forever will take 82 days to start streaming. 

That’s the longest that a Marvel movie has spent in theaters before streaming on Disney Plus since the company resumed theatrical exclusives in 2021. That year, Shang-Chi and the Legend of the Ten Rings was in theaters for 70 days and Eternals for 68 days. 

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(Coincidence or not, the Marvel film that Disney gave the shortest theatrical window among them also had the best overall box office performance. Doctor Strange and the Multiverse of Madness grossed more than $955 million worldwide. Wakanda Forever has generated $840 million.)

However, Wakanda Forever may have been held off Disney Plus so long because of a consideration that doesn’t apply to those other Marvel films this year: The movie, with a Black director and predominantly Black cast, is debuting on Disney Plus on the first day of Black History Month. Disney hasn’t stated any connection in the timing, but it’s possible the film’s wait to start streaming may have been drawn out to coincide.  

Still, big Hollywood companies like Disney aren’t prioritizing streaming-subscriber growth nearly as much as they did, depressing the incentive to bring big movies to a service quickly. 

Paramount, for example, kept Top Gun: Maverick off its streaming service for 209 days, nearly seven months. The strategy paid dividends at the box office, with the Top Gun sequel grossing nearly $1.5 billion.

Disney has been much more aggressive than Paramount at putting its movies onto its streaming service quickly, but Disney is starting to show that it may be holding back its big-budget films longer in theaters as well. With Ant-Man and the Wasp: Quantumania set to hit theaters next month, Guardians of the Galaxy Vol. 3 following in May and The Marvels arriving in July, you could be waiting more than three months to stream each of them if they stick to Wakanda Forever’s pace. 

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Exclusive: OnePlus 11R and OnePlus Pad set to be launched alongside OnePlus 11 on Feb 7 Cloud Event – TalkOfNews.com

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OnePlus 11R and OnePlus Pad set to be launched alongside OnePlus 11 on Feb 7 Cloud Event

#OnePlus #11R #OnePlus #Pad #set #launched #OnePlus #Feb #Cloud #Event

Although OnePlus has already launched its flagship device for the year, OnePlus 11 in China, they are yet to launch the device in India and the rest of the world. OnePlus has confirmed that the global launch of the OnePlus 11 will take place in India on February 7. However, it seems that OnePlus may be launching a bunch of other devices as well.

OnePlus 11R and OnePlus Pad set to be launched alongside OnePlus 11 on Feb 7 Cloud Event

OnePlus has a bunch of products lined up for its upcoming Cloud Event, including the OnePlus 11, OnePlus 11R, OnePlus Buds Pro 2, the OnePlus Keyboard, a new OnePlus TV and the OnePlus Pad.

OnePlus will also launch the OnePlus 11R along with the OnePlus 11. The OnePlus 11R hasn’t been launched anywhere else and was actually expected to be launched sometime in March or April. 

Amazon India pushed a notification prompt via its app yesterday, which said that the OnePlus 11R 5G will also launch on February 7th, 7:30 PM in India. OnePlus though is yet to make any such announcement.

OnePlus has a bunch of products to offer during its upcoming February 7th Cloud Event, including the OnePlus 11 5G, the OnePlus Buds Pro 2, its first-ever Keyboard, and the new OnePlus TV 65 Q2 Pro. It only makes sense that OnePlus, instead of just launching one of their premium smartphone devices at the event, may choose to launch the entire series on the same day.

A rumour has also surfaced which says that OnePlus may launch the OnePlus Pad as well at the event. Rumours of the OnePlus Pad have been going around since 2021 with more recent speculation suggesting a launch in 2023.

There isn’t much information out there about the OnePlus Pad. However, given the close ties that OnePlus has with Oppo, the OnePlus Pad may be a rebadged Oppo Pad or Oppo Pad Air.

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Coming back the smartphones, the global version of the top tier OnePlus 11 is expected to with the latest Qualcomm Snapdragon 8 Gen2 SoC, a 6.7-inch E4 QHD+ OLED display with a 120Hz refresh rate, 50MP primary camera sensor with two additional cameras, 48MP and a 32MP unit, all of which have been tuned by Hasselblad, up to 512GB storage, and a large 5,000mAh battery which supports 100W fast charging. The OnePlus 11 is expected to be priced around the Rs 50,000 mark for the base variant.

The OnePlus 11R, on the other hand, is expected to come with a 6.7-inch FHD+ AMOLED panel with a 120Hz refresh rate and powered by a Snapdragon 8+ Gen 1 processor, which will likely be paired with up to 16GB RAM and up to 512GB storage. As for the cameras, the OnePlus 11R 5G is tipped to come with a 50MP + 12MP + 2MP triple rear camera setup and a 16MP selfie snapper. Lastly, the device will reportedly feature a 5,000mAh battery with 100W fast charging support.


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Exclusive: Tesla Cybertruck mass production won’t start until 2024 – TalkOfNews.com

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Tesla Cybertruck mass production won’t start until 2024

#TeslaCybertruck #mass #production #wont #start

Tesla’s long-anticipated Cybertruck won’t be seeing full volume production until 2024, Elon Musk said during the company’s fourth quarter earnings call today.

During the call, Musk was asked whether the forthcoming vehicle would meet a mid-2023 production target that was set in Q2 last year. Musk cagily confirmed that Cybertruck manufacturing would start “sometime this summer,” but concluded that mass production of the polarizing pickup won’t start until next year. “I always try to downplay the start of production,” Musk said. “It increases exponentially, but it is very slow at first.”

Cybertruck was originally announced in 2019 to widespread interest, but has seen its production delayed several times. Pre-production was originally supposed to start in late 2021, but was delayed as a result of the COVID-19 pandemic. It was then slated for sometime in 2023, a projection made a year ago. Additionally, last year Musk told investors Cybertruck’s specs and price “will be different,” (read: will be more expensive).

As a consolation prize, Tesla revealed on Wednesday that it has started installing the production equipment needed for the Cybertruck’s assembly, including the castings that will produce the electric pickup’s body. The Cybertruck is expected to be largely manufactured at the company’s Gigafactory in Austin, Texas.

Industry experts warned that the timeline needed to be sped up in order for the Cybertruck to have its desired impact. “Cybertruck will be hitting an increasingly crowded sector of the EV market amid the F-150 Lightning, GMC Hummer EV, Rivian R1T, and likely the Chevy Silverado EV and RAM 1500 EV following closely behind,” said Edmunds executive director of insights Jessica Cawell in an email to The Verge. “The downside for Tesla is that the Cybertruck almost seems like old news.”

There’s still a lot of attention on the Cybertruck after its over-the-top unveiling that introduced its aggressive, post apocalyptic design. Maybe if Tesla throws more metal balls around it can get production rolling.

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