Starting in September, Fitbit Premium members will have access to Peloton classes, while Fitbit users without a Premium subscription will have access to a select group of those classes, Peloton said in a Tuesday (Aug. 13) press release.

The Peloton classes will be available to Fitbit Premium members in the United States, the United Kingdom, Canada and Australia, according to the release.

In addition, through this content distribution partnership, Peloton Members will receive special offers on Google Pixel Watch and Fitbit Charge 6 devices, per the release.

“We’re thrilled to bring Peloton’s classes and world-class instructors to Fitbit users, and continue to establish Peloton as a one-stop shop for all types of fitness content,” Greg Hybl, senior vice president and general manager of Peloton for Business, said in the release. “Together we share a commitment to make health and wellness more accessible and ensure even more people can reach their fitness goals.”

The convergence of technology and fitness, exemplified by the proliferation of wearable innovations aggregating diverse fitness data sources, has been a post-pandemic trend, PYMNTS reported in May.

Younger consumers are especially likely to use healthcare-related wearables, according to the March 2023 edition of PYMNTS Intelligence’s “The ConnectedEconomy Monthly Report: The Evolving Digital Daily.”

Thirty percent of Gen Z respondents said they use wearable technology that gathers health information on a daily basis, as did 27% of millennials, the report found.

In another collaboration, Peloton and TikTok said in January that they had partnered to offer Peloton’s workout content to TikTok users in the U.S., the U.K. and Canada.

This partnership marked the first time the connected fitness platform produced bespoke social content for a partner outside of its own channels.

“We collectively recognize the way people engage with fitness is constantly changing,” Oli Snoddy, who was vice president of consumer marketing at Peloton at the time, said in a press release announcing the partnership. “Our team is excited to complement TikTok’s already burgeoning fitness content by introducing the magic of Peloton to new audiences, and in completely new ways.”

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With this partnership, Affirm’s payment network can be accessed through Tekmetric’s automotive repair shop management solution, the companies said in a Tuesday (Aug. 13) press release.

Auto repair shops that use Tekmetric’s platform can add Affirm as a payment option with a few clicks, according to the release.

Then, the repair shops’ customers can select Affirm at checkout and, when approved, split the cost of their purchase into monthly or biweekly payments and see the total cost of their purchase, per the release.

“Our partnership with Affirm allows our partner shops to improve customer satisfaction by offering flexible payment plans, and to drive higher repair order values and loyalty through versatile payment choices,” Sunil Patel, founder and CEO of Tekmetric, said in the release.

Tekmetric joins more than 292,000 retail partners that offer Affirm at checkout, according to the release.

“Consumers increasingly expect payment flexibility at checkout, with a recent Affirm survey revealing that more than half of respondents have used or would use ‘buy now, pay later’ options,” Pat Suh, senior vice president of revenue at Affirm, said in the release. “By partnering with Tekmetric, we can help the auto repair shops leveraging their platform meet this consumer demand and accelerate revenue growth.”

Digital tools and platforms are making hefty auto repair bills, particularly unplanned ones, more manageable for drivers, PYMNTS reported in February.

Millennials are especially likely to use BNPL for vehicle maintenance, according to “The Credit Accessibility Series: BNPL’s Wide-Ranging Impact on Consumers and Merchants,” a PYMNTS Intelligence and Sezzle collaboration.

The report found that 5.8% of millennials said they purchased vehicle maintenance in their last BNPL transaction, compared to 3.9% of Gen Z consumers, 3.2% of Gen X consumers and 1.7% of baby boomers and seniors.

In January, Bumper, a London-based FinTech that lets customers fund car repairs in installments, raised $48 million and said it would use the funding to expand throughout Europe, targeting car dealers and repair shops in the United Kingdom, Spain, Germany, the Netherlands and Ireland.

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“More than three-quarters of small business owners are concerned about their ability to access capital, and hurdles in accessing credit can significantly curtail business growth,” the companies said in a Tuesday (Aug. 13) news release provided to PYMNTS. “Through this integration with Dun & Bradstreet, Lili continues its mission to simplify business finances and provide business owners with the tools they need to succeed.”

Dun & Bradstreet’s small business customers can now apply for a Lili business checking account from the Dun & Bradstreet myD&B platform, according to the release.

Once they open their account, customers can sync their financial data with D&B Credit Insights, letting them potentially impact key business scores and helping them build their business credit file and history, per the release.

“With a majority of small businesses relying on their personal savings to fund their business due to lack of access to credit and capital, there is a pressing need for more tools to help small businesses succeed,” Lili co-founder and CEO Lilac Bar David said in the release. 

The partnership comes as small- to medium-sized businesses (SMBs) contend with a “perfect storm” of financial troubles.

“SMBs are experiencing financial strain from late payments, inflation and antiquated payment systems — delayed payments average 29.1 days, exacerbating cash flow issues,” PYMNTS reported in July. “With 76% of SMBs under $10 million in revenue facing inflationary pressures and 71% experiencing cash shortfalls, many resort to personal savings or loans to survive.”

Further underscoring the need for digital solutions are manual processes such as paper payments.

Against this backdrop, expanding on “the efficiency of working capital has become a strategic priority for businesses, with innovations in working capital financing not only reshaping how businesses manage their cash flow but also fueling a new era of growth opportunities,” PYMNTS wrote in a separate report last month.

Strategies such as optimizing inventory levels, extending payment terms with suppliers and accelerating receivables have been instrumental in improving both cash flow and operational efficiency for businesses.

For all PYMNTS B2B coverage, subscribe to the daily B2B Newsletter.

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The partnership, announced in a news release Thursday (Aug. 8), expands on the company’s existing integration, letting RealPage customers offer Flex as a payment option for residents within LOFT, RealPage’s resident portal and app.

The release notes that the integration is in response to high demand among renters for payment flexibility, with one recent survey showing that 93% are interested in flexible payment schedules instead of paying their rent in full once a month.

“Flex’s mobile application will allow residents to split their rent bill into smaller, more manageable payments while ensuring property managers receive their full rent payment due on time,” the release said. “With over $8 billion in annual rent payments processed, Flex has become a trusted partner to property managers who offer the solution across more than 6 million rental units.”

The release adds that flexible rent payments can offer property managers a way to boost net operating income, improve resident retention and stand out in a competitive rental market.

“Through this technology partnership, RealPage multifamily customers can offer their residents a convenient alternative to traditional payment methods,” the companies said. “With Flex, residents can better align their rent payments with their pay cycles, introducing flexibility that makes paying rent easier to manage and less financially stressful.”

As PYMNTS wrote last year, offering digitized payment and refund options tends to make for happier tenants, whether they’re renting a home, office or apartment.

“As digital options have proliferated for paying rent directly from a bank account, data shows that digitization of refunds has picked up steam,” that report said.

“Since these deposits are sizable — usually the cost of one month’s rent — it makes sense that tenants, especially those with high rents who tend to receive higher refunds, may want access to these refunds via instant pay.”

In fact, renters prefer receiving instant refunds straight to their bank accounts. Of the 40% who received rent-related refunds and primarily used instant methods, 19% received most of those payments straight to a bank account, while 13% received most of those payments instantly to a digital wallet.

“More importantly, renters are more satisfied when receiving rent-related refunds instantly,” PYMNTS wrote. “This satisfaction suggests that property management companies offering instant pay may have a competitive advantage.”

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LianLian, a cross-border payments firm based in China, chose Thredd to power its Yueda virtual card for Asia-Pacific (APAC) region customers in industries such as eCommerce, travel and international B2B trade, the company announced Thursday (Aug. 8) in a news release emailed to PYMNTS.

Tim Shen, LianLian’s co-CEO, said that Thredd’s virtual card-issuing capabilities will help fuel his company’s growth plans, after securing payments licenses in major markets such as mainland China, Hong Kong China, Singapore, the U.S., the U.K., Luxembourg, Thailand and Indonesia.

“We are delighted to find a partner in Thredd who can support us with virtual cards that will ensure that no matter where a client needs to send a payment, it will be supported,” he said, according to the release. “Access to a local team of experts who speak our language has made the implementation and ongoing operations seamless.”

The partnership comes at a time when — as PYMNTS wrote last month — virtual cards are changing the relationship between buyers and suppliers.

Speaking with PYMNTS CEO Karen Webster, Boost Payment Solutions CEO Dean M. Leavitt noted that virtual cards are poised for wider adoption in commercial payments, letting buyers extend their payment periods while allowing suppliers to receive payments faster.

“The leverage that exists on both sides of the [buyer and supplier] equation often dictates the payment type,” he told Webster.

Leavitt added that in transactions between large companies, there’s typically balanced leverage, driving the choice of payment methods. This balance makes sure that both parties are on equal footing in negotiations, resulting in fairer and more efficient payment agreements. At times where suppliers hold the leverage, Leavitt stressed the importance of striking some balance.

“You have to make sure that the supplier is getting something for agreeing to take cards,” he said in a conversation for the “What’s Next in Payments: Halftime” series.

At the same time, reluctance among suppliers is holding back virtual cards from wider adoption, as PYMNTS noted recently.

“Despite a clear economic advantage, the uptake is far from the potential growth projected on the horizon, and the industry does not yet have good enough tools to improve the value proposition of virtual cards for suppliers, nor to explain that value proposition well enough or to sell and implement the product,” that report said.

Paul Christensen, CEO of B2B payments accelerator Previse — which has researched virtual card use with PYMNTS Intelligence — pointed out that while 80% of buyers favor virtual cards, their use makes up just 2% of those buyers’ accounts payable (AP) transactions.

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“This partnership with Walmart further strengthens WorldFirst’s international digital trade ecosystem, which includes marketplaces, logistics, customs brokers, and other trade service providers,” the company said in a Wednesday (Aug. 7) news release. “This ecosystem broadens businesses’ access to essential resources needed to succeed in overseas markets.”

According to the release, this new digital payment collection service will provide online sellers with added security and compliance, with funds deposited straight into a merchant’s World account, with no service charges.

In addition, WorldFirst’s “Global Voyage Program” lets merchants quickly set up their store — in as little as a day — with no monthly fees.

WorldFirst also recently introduced a solution to help small businesses speed cross-border payments. WorldTrade, announced in April, is designed for small and medium-sized enterprises (SMEs) that procure products from suppliers based in China.

“The launch of WorldTrade aims to build trust in B2B trade through digital means,” Ma Qisheng, head of global B2B business at WorldFirst, said in a news release.

“WorldTrade facilitates intelligent payment processing aligned with agreed trade terms, minimizing trade barriers and streamlining global business interactions.”

In other Walmart news, PYMNTS wrote last week that the retail giant and its rival Amazon were looking to improve their margins through digital media sales by courting potential advertisers.

Walmart announced recently that its warehouse club chain subsidiary Sam’s Club’s Member Access Platform (MAP) is launching display ads within its Scan & Go feature, making it the first retail media platform to introduce advertisements via a mobile self-checkout app. The company says its aim is to offer advertisers a way to reach consumers at the highest-intent moments.

“This new capability reflects our member obsession and commitment to ensuring ads reach the right members at the right time in their shopping journeys,” Diana Marshall, the warehouse club chain’s executive vice president and chief growth officer, said in a statement. “Creating a closed loop, omnichannel advertising experience enables us to better understand member shopping behavior and ad performance, ensuring we keep the member experience at the forefront while helping our advertisers achieve their objectives.”

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The expanded collaboration will see Atleos begin branding ATMs at 4,000 Walgreens stores with the Chime brand to increase customer awareness, according to a Wednesday (Aug. 7) press release.

Atleos’ Allpoint Network has provided ATM access for Chime members since 2021 at more than 50,000 fee-free ATMs, the release said.

The expanded relationship will make it “easier than ever for Chime cardholders to identify and use fee-free ATMs to access cash,” Atleos Chief Operating Officer Stuart Mackinnon said in the release.

Chime Vice President of Marketing Nick Fairbairn added in the release: “Our members love the mobile-first convenience and ease of Chime, but they still expect convenient, fee-free access to cash. This partnership with Atleos has ensured our members have easy access to cash when they need it …”

The collaboration is happening at a time of change for consumers’ relationships with ATMs.

For millions of customers, “ATMs are changing to become more interactive and take on different tasks than simply producing paper currency. Most estimates put the number of ATMs still in use at around 450,000 after peaking at 470,000 pre-pandemic,” PYMNTS wrote earlier this year.

ATMs are cropping up more in nontraditional settings — boutique retail stores, restaurants and doctor’s offices — according to cash automation manufacturer and distributor Wittenbach. The company said it’s also witnessing demand for mobile ATM locations that can be transported easily to places with a variable amount of foot traffic.

“And they are performing different services in the connected economy,” PYMNTS wrote. “For example, NCR Atelos … is positioning its machines as a full-service location that can allow deposits, cash recycling and access to account information. By making cash more convenient, it says, branch employees can be more productive and customer-centric.”

According to Atleos, roughly half of the 66% of people who earn less than $100,000 per year still use cash regularly.

“And more than half of respondents across all demographics still like to have cash with them when they leave home,” a company report stated.

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Alacriti’s Orbipay EBPP loan payment solution will be integrated into Akuvo’s collections platform, enabling seamless, in-platform loan payment processing, the companies said in a Tuesday (Aug. 6) press release.

“Our customers will now benefit from a more efficient, integrated solution that enhances visibility and operational efficiency across payments,” Mike Ruggiero, senior vice president of relationships at Akuvo, said in the release.

The loan payment experience enabled by this partnership covers loans that are current, delinquent and in collections, according to the release. As a result, this fully consolidated experience provides the financial institution with complete visibility across all their loan payments.

The integration also allows collections agents to process payments directly within the Akuvo platform, eliminating the need for them to switch between systems, per the release.

“Combining Alacriti’s payment capabilities with Akuvo’s collections platform creates a powerful tool for financial institutions,” Jamie Harris, chief sales officer at Alacriti, said in the release. “This integration delivers on our commitment to eliminate friction and barriers in the payments process for financial institutions.”

The PYMNTS Intelligence report “Platform Business Survey: The Rise of Embedded Payments” found that embedded payments address companies’ need to improve the customer experience, which has become a market trend across industries.

By improving payments and catering their businesses to customer bases that value easy buying experiences enabled by the latest technologies, businesses can access markets more quickly and increase market share through planned growth.

In July, Alacriti teamed up with Lumin Digital to enable financial institutions to offer a seamless loan payment experience by integrating Alacriti’s Orbipay loan payment solution with Lumin’s digital banking solutions.

Also in July, Akuvo partnered with collection agency TriVerity to ease the process of third-party charge-off collections through Akuvo’s cloud-based collections platform to help maximize credit unions’ recoveries from nonperforming loans.

The companies said at the time that Akuvo’s platform would enhance TriVerity’s offerings by delivering “guidance and improved workflow through continuous connections with core processors, credit bureaus, payment providers, text messaging services, legal resources and more.”

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The partnership aims to broaden financial inclusion for employees and retirees with limited access to socially responsible loan programs, the companies said in a Tuesday (Aug. 6) news release.

WebBank and BMG Money are launching LoansAtWork, which is issued by the former, to give their customers flexible, employment-based loans that don’t take credit scores into account.

Loans typically range from $500 to $10,000 and are deposited directly into customers’ bank accounts. Repayments are scheduled around when customers get paid and are collected automatically to avoid missed payments, the release said.

Payment amounts are designed to be affordable and manageable, with no prepayment penalties, the release added. Additionally, loan performance will be reported to the credit bureaus.

Jason Lloyd, president and CEO of WebBank, said: “WebBank’s partnership with BMG Money is a testament to our commitment to support underserved individuals and communities. We believe that everyone deserves access to financial services and the opportunity to achieve economic stability.”

Sixteen percent of U.S. consumers don’t have a credit card, PYMNTS Intelligence has found, dampening their financial flexibility and limiting their access to a lifeline when facing an emergency.

“Secured Credit Solutions: Assessing Credit Accessibility for Disenfranchised Consumers,” a PYMNTS Intelligence and Atelio collaboration, examines why some consumer groups are unable to access credit cards and how this impacts their financial lifestyles. It draws on insights from a survey of 2,630 U.S. consumers conducted from March 13 to April 2.

Credit card outsiders, as PYMNTS calls them, are a diverse group. PYMNTS Intelligence found that 52% of outsiders once had a credit card, yet three-quarters chose to close their accounts, citing a range of personal reasons for doing so.

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“Varo selected Marqeta for its ability to combine sophisticated virtual, tokenized and physical card-issuing technology with faster speed-to-market which will help its customers improve their daily relationship with money,” the companies said in a news release Tuesday (Aug. 6).

The release notes that Marqeta’s platform allows Varo Bank to enable digital wallet tokenization with Apple and Google Wallets for its cardholders. It also points to a Marqeta report — backed by PYMNTS Intelligence research — showing consumer interest in digital-only banking.

“We sought an issuer partner that complements our unique position as both a technology company and a regulated financial institution,” said Varo Bank CEO Colin Walsh.

“This partnership with Marqeta enables us to offer cutting-edge card issuing technology, giving our customers enhanced ability to view and manage their transactions efficiently. This advancement aligns perfectly with our mission of financial empowerment.”

PYMNTS spoke earlier this year with Sachin Shetty, chief technology officer at Varo Bank, about the concept of composable banking, which is built around microservices and cloud-native architecture “instead of monolithic mainframes” to deliver financial services.

“Gen 3 systems, built as microservices, allow us to choose the parts of the core that give us the highest leverage in our build-versus-buy decisions,” Shetty said. “We can leave the commonality of what the core does and focus on building unique experiences for our customers.”

As that report notes, Varo Bank’s composable approach has helped to launch products like Varo Advance, a short-term loan program, and the Varo Line of Credit, designed to help customers manage unexpected expenses.

“These products, developed leveraging composable architecture, provide quick, hassle-free access to funds, illustrating the agility and customer-centricity that modern core systems afford,” PYMNTS wrote.

Marqeta’s partnership with Varo comes weeks after the company teamed with Visa and Affirm as it became the first U.S. processor to enable Visa Flexible Credential, a card offering that toggles between payment methods: debit, credit, cryptocurrency and pay-over-time options.

“Marqeta achieved certification with Visa Flexible Credential in May 2024, which will enable cardholders of Marqeta’s participating customers to easily set parameters or choose whether they use debit, credit, “pay-in-four” with Buy Now, Pay Later or even pay using rewards points,” the company said in a news release.

By offering consumers more payment choices, the company said, Marqeta customers can “improve the consumer purchase experience and increase merchant acceptance.”

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