Radar PYMNTS AM: BNPL for steel; Netflix sued

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Today is Thursday, May 5, and shareholders are going crazy over Netflix’s stock price and alleging the streaming giant forgot to mention subscriber counts. Here’s what should be on your radar this morning.

Fight against MFA fraud: Multi-factor authentication (MFA) can prevent 99.9% of fraudulent attacks when it comes to stolen credentials, but many customers are opting out and only 37% of businesses require it. Customers will switch merchants if there is too much friction at checkout. The latest Alternative Payments Tracker®, a collaboration between PYMNTS and Socure, takes an in-depth look at how digital identity systems can help e-commerce merchants reduce the risk of fraud without adding friction. READ MORE

The shareholders are suing Netflix: Shareholders are taking Netflix to court over allegations that the streaming giant failed to mention subscriptions were crashing and thus misled investors. The lawsuit seeks damages for Netflix’s declining share price this year as the company missed subscriber growth estimates. READ MORE

Consumerization of B2B payments: Millennials and Generation Z are pushing for B2B payment processes to have the same speed, convenience, simplicity and transparency as their everyday consumer transactions. In the May edition of Embedded Finance Tracker®, a collaboration between PYMNTS and Galileo Financial Technologies, data shows that 74% of millennial B2B buyers have switched to vendors offering closer-to-consumer payment experiences. READ MORE

BNPL for steel: The steel industry is entering the digital age with new payment options and digital information on inventory, supply chains and more. Bryzos is an online steel marketplace that makes it easy for buyers and sellers to trade and even offers buy-it-now, pay-later (BNPL) payments. CEO Shep Hickey told Karen Webster that model a is a real-time supply network that also deals with credit and terms and improves industry dynamics. READ MORE

ICYMI: The days of raising money through overdraft fees could be over for big banks if U.S. Sen. Elizabeth Warren (D-Massachusetts) has her way. The former presidential candidate sent letters to the CEOs of JP Morgan Chase, Wells Fargo and other big banks asking them to follow in the footsteps of rivals like Capital One and Citi and scrap those fees. Sen. Cory Booker (D-New Jersey) and Rep. Carolyn Maloney (D-New York) also signed the letter. READ MORE

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NEW PYMNTS DATA: THE TRUTH ABOUT BNPL AND STORED CARDS – APRIL 2022

On: Shoppers who have store cards use them for 87% of all eligible purchases – but that doesn’t mean retailers should start buy now, pay later (BNPL) options at checkout. The Truth About BNPL and Store Cards, a collaboration between PYMNTS and PayPal, surveys 2,161 consumers to find out why providing both BNPL and Store Cards is key to helping merchants maximize conversion.

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