Alt-Credit App Horserace Is On For the Holidays

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Some weeks there’s a lot of action to cover, as is the case with the latest instalment (pun intended) of PYMNTS Provider Ranking of Alternative Credit Apps. All but two of the Top 10 spots turned over in our latest ranking of point-of-sale (POS) credit apps — no doubt a sign of increased usage as holidays approach, as well the formation of buy now, pay later (BNPL) app preferences.

It’s clear that whichever app is up or down this month, alt-credit is heating up for the holidays. And who doesn’t love basking in the warm glow of splitting up their payments?

The Top 5

Diving right in, Klarna stays at No. 1 where it’s been for months, having expanded to over 60,000 in-store payment services around the country. At No. 2 this time out is QuadPay climbing two spots after two exciting quarters of deal-making. No. 3 goes to Affirm, down one but staying in the Top 3 with its initial public offering (IPO) still fresh. Landing at No. 4 is Aussie powerhouse Afterpay, also down one spot but staying in the Top 5. Finishing the Top 5 this go around is Sezzle, up one spot from the previous Alt-Credit App ranking, strengthened by several new partnerships.

The Top 10

The movement continues as we move on to the second half of the Top 10.

Dropping one spot from our previous ranking is the Zip Pay app at No. 6, followed by PayPal-backed Paidy rising two spots to land at No. 7 on its recent “3-Pay” announcement. Coming in at No. 8 is the FuturePay app, with Humm dropping one spot to grab No. 9.

Unchanged at No. 10 is LayBuy, concluding this moving and shaking edition of PYMNTS Provider Ranking of Alternative Credit Apps.