Latest news with #credit
Phone Arena
5 hours ago
- Business
- Phone Arena
A new Samsung Wallet feature could rival Apple Pay Later when buying a new phone
The installment service is made possible through Samsung's partnership with Splitit, a third-party provider. Importantly, users won't need to apply for a new line of credit or pass a credit check to use the feature. The funds are drawn from the existing balance of the card you already have in your Wallet. Once you make a purchase, you can choose from one of four plans: six payments every two weeks, eight payments every two weeks, six monthly payments, or nine monthly payments. If no option is selected within 24 hours, the payment is processed in full. The installment service is made possible through Samsung's partnership with Splitit, a third-party provider. Importantly, users won't need to apply for a new line of credit or pass a credit check to use the feature. The funds are drawn from the existing balance of the card you already have in your you make a purchase, you can choose from one of four plans: six payments every two weeks, eight payments every two weeks, six monthly payments, or nine monthly payments. If no option is selected within 24 hours, the payment is processed in full. Receive the latest Samsung news Subscribe By subscribing you agree to our terms and conditions and privacy policy Are you more likely to purchase flagship devices if you had the option to split up the payments? Yes No It doesn't matter since I'm spending the same anyway Yes 0% No 0% It doesn't matter since I'm spending the same anyway 100% To use it, just tap 'Pay in installments' under an eligible card in Samsung Wallet. You'll then be prompted to pick a plan based on your budget. After that, you can keep track of your scheduled payments right from within the app. At launch, participating states include Arizona, Arkansas, Colorado, Georgia, Idaho, Illinois, Kansas, Louisiana, Maine, Maryland, Michigan, Missouri, Montana, New Hampshire, New Mexico, North Dakota, Oklahoma, Oregon, Tennessee, Utah, Wyoming, and Washington D.C. According to Drew Blackard, SVP of Mobile Product Management at Samsung Electronics America, the move aligns with Samsung Wallet's broader goal of convenience: — Drew Blackard, Senior Vice President of Mobile Product Management at Samsung Electronics America This addition may be especially useful for Galaxy device owners heading into the fall, as Samsung has just launched its latest generation of foldables, including the This addition may be especially useful for Galaxy device owners heading into the fall, as Samsung has just launched its latest generation of foldables, including the Galaxy Z Fold 7 . While this move could simplify how users manage larger payments, it also places Samsung in closer competition with other mobile wallet services that have introduced similar buy-now-pay-later tools in recent years. At launch, participating states include Arizona, Arkansas, Colorado, Georgia, Idaho, Illinois, Kansas, Louisiana, Maine, Maryland, Michigan, Missouri, Montana, New Hampshire, New Mexico, North Dakota, Oklahoma, Oregon, Tennessee, Utah, Wyoming, and Washington to Drew Blackard, SVP of Mobile Product Management at Samsung Electronics America, the move aligns with Samsung Wallet's broader goal of convenience: To use it, just tap 'Pay in installments' under an eligible card in Samsung Wallet. You'll then be prompted to pick a plan based on your budget. After that, you can keep track of your scheduled payments right from within the app. Samsung Wallet users in the U.S. are about to get more flexible ways to pay, as Samsung is rolling out a new installment payments feature starting July 25. The option will initially be available in 21 states and Washington D.C., with plans to expand nationwide by the end of new capability builds on the recent addition of Tap to Transfer, giving users another payment option when making in-store purchases. Instead of paying the full amount upfront, customers can now divide their transaction into smaller payments using their eligible Visa or Mastercard credit card.
Reuters
6 hours ago
- Business
- Reuters
Blackstone's profit tops estimate on credit strength, fee gains
July 24 (Reuters) - Blackstone (BX.N), opens new tab beat second-quarter profit expectations on Thursday on strong gains in its credit and private equity businesses and a pickup in performance-related fees tied to perpetual capital funds. Shares of the world's largest alternative asset manager rose 3.2%, turning positive for the year. Even though tariffs uncertainties remain a source of concern for the economy, resilient investors have propelled equity markets to record highs, enabling large asset managers such as Blackstone to capitalize. Asset sales in the credit and insurance segment were $10 billion, while the company also sold $7.3 billion of private equity assets. It had $181.2 billion of capital available for deployment. Fee-related performance revenue more than doubled to $472.1 million, powered by a 16% growth in perpetual capital assets under management. Perpetual capital refers to long-term assets under management that does not have a fixed end date and cannot typically be redeemed by investors on demand. Distributable earnings, which represent cash that can be used to pay dividends, grew 25% to $1.6 billion, or $1.21 per share, for the three months ended June 30. It exceeded analysts' expectation of $1.10, according to data compiled by LSEG. Blackstone has said it remains capable of executing deals even in uncertain environments, underscoring its resilience should trade tensions escalate further. As of last close, Blackstone's shares were down slightly this year, compared with an 8% gain in the benchmark S&P 500 (.SPX), opens new tab index. Inflows of $52.1 billion helped push Blackstone's total AUM to $1.2 trillion, up 13% from a year ago. The credit and insurance segment attracted more than half of the total inflows. The unit is a key driver of Blackstone's growing influence in private credit, as more companies turn to investment firms for flexible financing. The private equity arm also recorded segment distributable earnings of $751.4 million, up 55% from a year ago. AUM at the real estate division fell 3%, but segment distributable earnings grew 10%. "Blackstone is deploying more in real estate than it is realizing, indicating some bullishness on its part as it is putting more money to work than it's taking off the table," Oppenheimer analyst Chris Kotowski wrote in a note. The company had said tariffs could drive up construction costs and reduce new supply, potentially elevating real estate values if the economy avoids a recession.
Yahoo
7 hours ago
- Business
- Yahoo
ZipRecruiter Joins Forces with Chase to Help Businesses Hire Smarter
As the exclusive hiring partner for the new Chase Sapphire Reserve for Business card, ZipRecruiter gives cardmembers the tools to find top talent, including up to $400 in annual hiring credit SANTA MONICA, Calif., July 24, 2025--(BUSINESS WIRE)--ZipRecruiter®, a leading online employment marketplace, is partnering with Chase to power hiring for businesses. As the exclusive hiring partner for the new Chase Sapphire Reserve for Business card, ZipRecruiter will give cardmembers tools to build their teams, including access to its powerful matching technology, distribution to 100+ of the most-visited job boards, and up to $400 in annual hiring credit1 to find top talent with speed and confidence. "Speed and efficiency in hiring can make the difference between capturing a great employee and losing them to a competitor," said Ian Siegel, ZipRecruiter Co-Founder and CEO. "When you combine Chase's extensive network with ZipRecruiter's proven hiring platform, you create a powerful solution that drives real business results." Chase Sapphire Reserve for Business cardmembers can activate the offer to tap ZipRecruiter's powerful matching technology and easy-to-use platform with no additional signup required. Customers can simply use their Chase card for qualifying purchases on ZipRecruiter to have up to $400 in annual statement credits automatically applied to their account.1 Business owners can use the ZipRecruiter hiring credit to post jobs, access premium candidate sourcing tools, and more. Chase serves SMBs through its Chase for Business offerings, and these businesses consistently face the same hiring challenges: finding quality candidates, attracting enough applicants, and competing against well-known companies for talent.2 With the new card and ZipRecruiter credit, these businesses are armed with the hiring power they need to find and hire top candidates. To learn more, visit About ZipRecruiter ZipRecruiter® (NYSE:ZIP) is a leading online employment marketplace that actively connects people to their next great opportunity. ZipRecruiter's powerful matching technology improves the job search experience for job seekers and helps businesses of all sizes find and hire the right candidates quickly. ZipRecruiter has been the #1 rated job search app on iOS & Android for the past eight years3 and is rated the #1 employment job site by G2.4 For more information, visit 1 $400 Annual ZipRecruiter Credit through 12/31/27 for Chase Sapphire Reserve for Business Card: A statement credit will be automatically applied to your account for qualifying purchases with up to a maximum accumulation of $200 in statement credits from January 1 through June 30 and up to $200 from July 1 through December 31, for a total maximum accumulation of $400 in statement credits each calendar year through December 31, 2027. Calendar year means January 1 through December 31 of that same year every year. Qualifying purchases are when you or an authorized user of the account, such as an employee, use the card for purchases made directly with Call the number on the back of your card to find out eligibility for your next $400 Annual ZipRecruiter Credit. Please allow 6 to 8 weeks for statement credit(s) to appear on your monthly credit card billing statement. The $400 Annual ZipRecruiter Credit must be available at the time qualifying purchases are made to be applied to your account. We may reverse statement credits if an eligible purchase is returned, canceled, or modified or if you close your account within 90 days of receiving a statement credit. If you purchase a subscription service, your card may be billed for automatic renewals at recurring periods without further notice from ZipRecruiter. This offer will not apply to such renewals once the offer expires or is fully used. 2 ZipRecruiter national survey of n = 2,000 verified talent acquisition professionals and hiring managers, Sept. 24 – Oct. 16, 2024 3 Based on job seeker app ratings, during the period of January 2017 to January 2025 from AppFollow for ZipRecruiter, CareerBuilder, Glassdoor, Indeed, LinkedIn, and Monster. 4 Based on G2 satisfaction ratings as of January 10, 2025. View source version on Contacts Media Contact Claire Walsh, Press Relationspress@ Sign in to access your portfolio
Yahoo
9 hours ago
- Business
- Yahoo
Blackstone's profit tops estimate on private equity, credit strength
(Reuters) -Blackstone beat second-quarter profit estimates on Thursday, as the world's largest alternative asset manager benefited from robust gains in its credit and private equity arms. Shares rose nearly 1.1% before the open and were on track to turn positive for the year if gains hold. Even though tariffs uncertainties remain a source of concern for the economy, resilient investors have propelled equity markets to record highs, enabling large asset managers such as Blackstone to capitalize. Asset sales in the credit and insurance segment were $10 billion, while the company also sold $7.3 billion of private equity assets. It had $181.2 billion of capital available for deployment. Its distributable earnings, which represent cash that can be used to pay dividends, grew 25% to $1.6 billion, or $1.21 per share, for the three months ended June 30. It exceeded analysts' expectation of $1.10, according to data compiled by LSEG. Blackstone has said it remains capable of executing deals even in uncertain environments, underscoring its resilience should trade tensions escalate further. As of last close, Blackstone's shares were down slightly this year, compared with an 8% gain in the benchmark S&P 500 index. STRONG INFLOWS Inflows of $52.1 billion helped push Blackstone's assets under management to $1.2 trillion, up 13% from a year ago. The credit and insurance segment attracted more than half of the total inflows. The unit is a key driver of Blackstone's growing influence in private credit, as more companies turn to investment firms for flexible financing. The private equity arm also recorded segment distributable earnings of $751.4 million, up 55% from a year ago. Assets under management at the real estate division fell 3%, but segment distributable earnings grew 10%. The company had said tariffs could drive up construction costs and reduce new supply, potentially elevating real estate values if the economy avoids a recession. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Forbes
9 hours ago
- Business
- Forbes
How AI Can Help The Credit System Handle The Student Debt Crisis
Mike de Vere is CEO of Zest AI. Despite recent headlines, taking out a student loan can sometimes be a good thing. Here's one reason why: For many Americans, taking out a student loan is a rite of passage toward becoming credit-visible. There are no cosigners or credit history required, and they have fixed interest rates with a repayment grace period after graduation. This is a building block for building credit and ideally also produces a meaningful result: getting a college degree. In many cases, the rate of return on a college education remains considerable: Income tends to increase with education, and a college degree is increasingly required to start a career and, in turn, afford a middle-class lifestyle. However, many Americans find themselves swimming in endless student debt. Collectively, Americans owe $1.6 trillion in student loans. And with recent policy changes surrounding repayment plans and student debt forgiveness, we're now seeing the negative financial effects cascading down. Recent student loan delinquencies have led 2.2 million Americans to see their credit score fall by 100 points, and over 1 million saw theirs fall by 150-plus points. Many previously had scores above 620, meaning that for at least a while they've been locked out of a once-accessible credit system. What's more, borrowers are punished (if only temporarily) when they ultimately repay the loan. Even a temporary drop in credit can have negative consequences—it may mean higher interest rates for auto or mortgage loans or even delaying these kinds of major purchases. The Credit Scoring Gap In Student Loan Borrowing Lenders who rely only on traditional scoring models are left with a problem—a costly blind spot due to the traditional credit system's misalignment with student debt realities. Student loans are designed to help people build a better financial future by enabling higher education and by helping them become credit-visible. However, the same loans can end up hurting their creditworthiness, especially under recent repayment and forgiveness policy shifts. This system penalizes borrowers through credit score declines even when they are trying to repay, creating a feedback loop of financial exclusion. Based on the traditional demographics of college attendees, this disproportionately affects younger and lower-income individuals—those who were supposed to benefit from the promise of upward mobility via education. When financial institutions are unable to capture a full picture of each loan applicant, they're unable to see if, for example, a student loan default is an exception for an otherwise great borrower or part of a pattern of missed payments. Let's say an American went to college to become a teacher. He went to a state university, got his teaching credentials and chose an income-based repayment plan that allowed him to accept a lower salary as a teacher but still diligently pay down his debt. When that income-based repayment plan was rescinded, he was no longer able to pay the monthly cost and found himself delinquent. He's still a good financial bet—he had been actively paying a loan down until an unexpected circumstance caused delinquency. But his traditional credit score wouldn't reflect these nuances. When Main Street financial institutions miss these types of borrowers, they're not just denying someone credit—they're missing profitable opportunities. The demand for credit doesn't disappear; it shifts to payday lenders and challenger banks using more sophisticated scoring methods. This exodus of good financial bets costs community-based lenders their market share while simultaneously pushing financially capable Americans toward higher-cost alternatives. AI: More Data Paints A Fuller Picture Despite relying heavily on credit scores for lending, financial institutions still have a ton of data at their disposal within an individual's credit report. While a traditional credit score may only use a handful of variables, artificial intelligence (AI)-automated underwriting can look at hundreds, making stronger associations between them and looking further back into someone's credit report. Take financial institutions like Commonwealth Credit Union, one of my company's clients, that are using AI to help make their lending faster, more accessible and data-driven. Instead of using a one-size-fits-all approach to lending, their lending team uses AI to take a high-definition look at each individual member's financial history. For instance, one member faced reduced working hours and yet was immediately approved for a $6,000 loan to bridge the gap, thanks to Commonwealth's ability to harness more data. It all boils down to lenders' ability to answer this question: Are these student debt defaults part of a larger pattern of debt, or is it part of an unexpected balance surge? AI can help answer that. Now, the teacher who eventually pays off his loans suddenly doesn't seem like a bad financial bet, since AI can detect that he consistently paid off his loans over a long period of time. When lenders have technology weighing hundreds of variables instead of 10 to 15, a change in just one variable (such as the number of credit lines) doesn't make such a big splash. Instead, it's connected to a wider web of variables, all weighing credit risk and building a case for the borrower. When technology evolves, so does lending. Whether it's the student debt crisis, tariffs or a possible recession, there's always going to be an unfolding challenge that lenders must address. The financial institutions that can steer the course and thrive in these climates are those that can be agile, leverage data and technology, and move beyond outdated scoring methods. They say 'that's the way we've always done it' is the most dangerous phrase in business. The same is true for lending; tomorrow's industry standards won't come from today's playbook. The information provided here is not investment, tax or financial advice. You should consult with a licensed professional for advice concerning your specific situation. Forbes Finance Council is an invitation-only organization for executives in successful accounting, financial planning and wealth management firms. Do I qualify?
