News "Save Now, Pay Later": New Startup Cherries wants to offer alternative to debt trap

05:40  16 august  2022
05:40  16 august  2022 Source:   finanzen.net

Bayern's SPD boss: No alternative to the second regular route

 Bayern's SPD boss: No alternative to the second regular route Bayern's SPD boss Florian von Brunn, despite the foreseeable increase in costs, does not see any alternative to a second S-Bahn line in Munich. "There will be another cost-benefit analysis, but I don't see any alternative to the second regular route at the moment," said von Brunn to the newspapers of the media group Bavaria (Saturday edition). However, the state government has to do everything so that it “finished cheaper and as quickly as possible”. It is important to use “external expertise”.

The increasingly louder criticism of services such as Klarna, which have a large number of users sink into debt, bears fruit in the startup scene: The new Fintech Cherries founded wants to offer a concept called "Save Now, Pay Later", in which customers save on a product instead of accumulating debts by receiving it before they receive it.

ASIF HASSAN/AFP/Getty Images © provided by Finanzen.net Asif Hassan/AFP/Getty Save Save

Payment services such as Klarna or AfterPay have recently become increasingly criticized because they motivate consumers to all kinds of products To acquire on the basis of installment payments and in this way to live over their circumstances. As a result, many users got deep into the debts, some of which could only be paid back under difficulties or not at all. A new trend is intended to counteract and introduce a more responsible way of payment: "Save Now, Pay Later", a concept in which the users save the required purchase amount for a product, so to speak, under the guidance of the payment provider and only buy the item in question if the required Total is.

9-euro-ticket successor: Lindner sees no funds

 9-euro-ticket successor: Lindner sees no funds a good three weeks before the favorable 9-euro ticket ended up and countries struggle for a possible follow-up offer for the cheap ticket. The financing of a connection solution is still particularly controversial. © Kay Nietfeld/dpa FDP chief and Federal Minister of Finance: Christian Lindner. Bayern insists that the federal government alone pays the costs for the succession offer in local and regional transport. Other countries signaled the willingness to finance.

Video: Just no originals: Copies often extend pension insurance (GLOMEX)

as MobileBanking explains, providers of this concept attract consumers with a special discount that the customer only receives by using the "Save Now, Pay Later" payment option . The price to be paid is less than it would be the case when using another payment variant. There are two different options. On the one hand, users can use a savings function that is embedded on the dealer's website and, after selecting the product, open a toll -free digital savings account to which they deposit money until the required purchase amount has been saved. Only then will the product be purchased from the dealer. On the other hand, there is also the possibility of using an automated savings plan, in which the installments and the target date are predefined, either by the user himself or from the provider of the payment option.

offer submitted: Augsburg wants Mainz keeper Dahmen

 offer submitted: Augsburg wants Mainz keeper Dahmen Rafal Gikiewicz still has a contract until 2023. Nevertheless, FC Augsburg is already looking for a new goalkeeper. As the kicker learned, Finn Dahmen from 1. FSV Mainz 05 is said to come to the FCA. © Imago Images He is in the sight of FC Augsburg: Mainz goalkeeper Finn Dahmen. goalkeeper has rejected the contract extension among the zero fifts FC Augsburg is looking for a goalkeeper and now seems to have identified his desired candidate.

The new startup Cherries wants to implement the new concept

a new startup called Cherries, which is based in both Berlin and Zurich, has chosen the new concept as its business model. Just like the US FinTech Accrue Savings, Cherries wants to offer a payment option for retailers that offers advantages for both them and their customers: On the one hand, consumers benefit from the discount on the purchase amount, while on the other hand the dealers enjoy the advantage of the failure risk to be liberated. Apart from that, Accrue CEO Michael Hershfield says according to "FinanceFwd" that the payment method is beneficial for customer loyalty.

As far as supporters are concerned, the German Cherries can already come up with a list of names that can be seen. For example, Atlantic Labs with the investor Christophe Maire, which is behind it, took part in the company with two million euros. In addition, other well-known personalities such as the Getyourguide founder Tao Tao have also made themselves available as consultants. In the choice of the right bank partner, Cherries is supported by the former Finleap manager Sandra Kumhofer. It remains to be seen whether the vision of the young German fintech can be realized and whether the demand for the new payment concept will actually turn out to be big enough. Thomas Weschle / Redaktion Finanzen.net

United Kingdom. Dockers of the largest English freight port will start a strike .
© Henry Nicholls / Reuters The strikes are growing in England against the cost of living. nearly 2,000 employees of the port of Felixstowe, England, begin a strike on Sunday August 21 to ask for wage increases to cope with rampant inflation. More than 1,900 employees of the largest port of English containers will start an eight-day strike on Sunday August 21, a new episode of the Social Movements which has agitated Great Britain since the beginning of the summer.

usr: 1
This is interesting!