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2021-08-02

wow

Samsung Takes Intel’s Chip-Seller Crown, but Bigger Showdown Looms<blockquote>三星夺得英特尔芯片销售商桂冠，但更大的摊牌迫在眉睫</blockquote>

2021-08-02

wow

The buy now, pay later wave: Afterpay, Klarna, Affirm and rivals hope to take U.S. by storm<blockquote>先买后付浪潮：Afterpay、Klarna、Affirm和竞争对手希望席卷美国</blockquote>

2021-08-02

wow

The buy now, pay later wave: Afterpay, Klarna, Affirm and rivals hope to take U.S. by storm<blockquote>先买后付浪潮：Afterpay、Klarna、Affirm和竞争对手希望席卷美国</blockquote>

2021-08-02

wow

Alibaba,Uber, DraftKings, GM, Roku, EA, ViacomCBS, and Other Stocks for Investors to Watch This Week<blockquote>阿里巴巴-SW、Uber、DraftKings、通用汽车、Roku、EA、ViacomCBS等本周值得投资者关注的股票</blockquote>

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But for now, it has fallen from the industry’s top spot by one key measure.In the second quarter, $Samsung Electronics Co., Ltd.$ overtook Intel as the world’s top chip maker by revenue. Giv","content":"<p><i><b>Cash is paramount as both companies seek to fund aggressive expansions into high-tech production.</b></i></p><p><blockquote><i><b>随着两家公司寻求为积极扩张高科技生产提供资金，现金至关重要。</b></i></blockquote></p><p> <i>Samsung overtook <a href=\"https://laohu8.com/S/INTC\">Intel</a> in the second quarter as the top chip maker by revenue and is expected to hold on to that distinction in the near future.</i></p><p><blockquote><i>三星反超<a href=\"https://laohu8.com/S/INTC\">英特尔</a>第二季度成为收入最高的芯片制造商，预计在不久的将来将保持这一地位。</i></blockquote></p><p> Intel&nbsp;Corp.&nbsp;aspires tochip-technology supremacy&nbsp;within four years. But for now, it has fallen from the industry’s top spot by one key measure.</p><p><blockquote>英特尔公司渴望在四年内占据芯片技术的主导地位。但就目前而言，它已经从行业第一的位置上跌落了一个关键指标。</blockquote></p><p> In the second quarter,&nbsp;<a href=\"https://laohu8.com/S/SSNNF\">Samsung Electronics Co., Ltd.</a> overtook Intel as the world’s top chip maker by revenue. Given divergent outlooks for their core businesses, the positioning is likely to stay that way in the near future, industry analysts say.</p><p><blockquote>二季度，<a href=\"https://laohu8.com/S/SSNNF\">三星电子有限公司。</a>超过英特尔成为全球收入最高的芯片制造商。行业分析师表示，鉴于其核心业务的前景不同，这种定位在不久的将来可能会保持这种状态。</blockquote></p><p> The South Korean tech company, which specializes in memory chips, racked up 22.74 trillion won, the equivalent of $19.7 billion,in semiconductor revenue&nbsp;during the April-June quarter.&nbsp;Total revenue for Intel, was $19.6 billion—or $18.5 billion after subtracting the contribution of a business unit it has agreed to sell.</p><p><blockquote>这家专注于存储芯片的韩国科技公司在4月至6月季度的半导体收入为22.74万亿韩元，相当于197亿美元。英特尔的总收入为196亿美元，减去其同意出售的一个业务部门的贡献后为185亿美元。</blockquote></p><p> Intel, based in Santa Clara, Calif., has held the No. 1 sales spot for much of the past three decades, ceding it to Samsung in 2017 and 2018 when memory-chip sales boomed.</p><p><blockquote>总部位于加州圣克拉拉的英特尔在过去三十年的大部分时间里一直保持着销量第一的位置，在2017年和2018年存储芯片销售蓬勃发展时将其让给了三星。</blockquote></p><p> The ranking is about more than bragging rights: Intel needs financial clout more than ever. Under new Chief Executive Pat Gelsinger, the company is embarking on an ambitious strategy to manufacture cutting-edge chips—one of the business world’s costliest endeavors.</p><p><blockquote>该排名不仅仅是吹牛的权利：英特尔比以往任何时候都更需要财务影响力。在新任首席执行官帕特·基辛格(Pat Gelsinger)的领导下，该公司正在实施一项雄心勃勃的战略来制造尖端芯片——这是商界成本最高的努力之一。</blockquote></p><p> <b>Chip Fight&nbsp;</b></p><p><blockquote><b>筹码大战</b></blockquote></p><p> A memory-market uptick helped Samsung'sshares outgain Intel's over the past year.</p><p><blockquote>内存市场的上涨帮助三星的股价在过去一年中超过了英特尔。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/8a4d0b49449e0776d721454dbe720e88\" tg-width=\"477\" tg-height=\"478\" width=\"100%\" height=\"auto\">Source: FactSet</p><p><blockquote>来源：FactSet</blockquote></p><p> Intel aspires to vault into a top-end foundry business, or the contract manufacturing of the most-advanced chips. In the race to miniaturize chip circuitry to the final nanometers, Intel joins a world populated by&nbsp;<a href=\"https://laohu8.com/S/TSM\">Taiwan Semiconductor Manufacturing</a> and Samsung, both of which have allocated more than $100 billion. More sales provide more cash for capital expenditures and to give to shareholders.</p><p><blockquote>英特尔渴望进军高端代工业务，即最先进芯片的合同制造业务。在将芯片电路小型化到最后纳米级的竞赛中，英特尔加入了一个由<a href=\"https://laohu8.com/S/TSM\">台积电</a>和三星，这两家公司的拨款都超过了1000亿美元。更多的销售为资本支出和股东提供了更多的现金。</blockquote></p><p> Though many firms, including&nbsp;<a href=\"https://laohu8.com/S/NVDA\">NVIDIA Corp</a> and&nbsp;<a href=\"https://laohu8.com/S/QCOM\">Qualcomm</a>,&nbsp;design superpowered chips, only TSMC and Samsung are able to manufacture them. Intel could join that list if its contract chip-making ambitions materialize.</p><p><blockquote>尽管许多公司，包括<a href=\"https://laohu8.com/S/NVDA\">英伟达公司</a>和<a href=\"https://laohu8.com/S/QCOM\">Qualcomm</a>，设计超能力芯片，只有台积电和三星能够制造。如果英特尔的合同芯片制造雄心得以实现，它可能会加入这一名单。</blockquote></p><p> With a&nbsp;global shortage of chips&nbsp;hobbling businesses world-wide, the U.S., Europe and other governments are offering tens of billions of dollars in incentives to spur the building of chip-making plants. But even so, such cutting-edge production requires advanced machines that cancost $150 million apiece, while a single facility can cost $20 billion.</p><p><blockquote>由于全球芯片短缺阻碍了全球企业的发展，美国、欧洲和其他国家政府正在提供数百亿美元的激励措施，以刺激芯片制造厂的建设。但即便如此，这种尖端生产需要先进的机器，每台机器的成本可能高达1.5亿美元，而单个设施的成本可能高达200亿美元。</blockquote></p><p> The next frontiers of chip making are so demanding that only TSMC, Samsung and Intel have the technological capability and deep pockets to proceed, said Dale Gai, a research director at Counterpoint Research. “I don’t see anyone in the No. 4 position,” he said.</p><p><blockquote>Counterpoint Research研究总监戴尔·盖(Dale Gai)表示，芯片制造的下一个前沿领域要求如此之高，以至于只有台积电、三星和英特尔拥有技术能力和雄厚的财力来继续进行。“我没有看到任何人处于第四名的位置，”他说。</blockquote></p><p> The three-company race will ultimately dictate where—and by whom—the advanced semiconductors essential for 5G cellular networks, self-driving cars and artificial intelligence are made. TSMC is currentlythe biggest foundry player, controlling 55% of the market, while Samsung represents 17%, according to first-quarter data from TrendForce, a market researcher.</p><p><blockquote>这场三家公司的竞赛将最终决定5G蜂窝网络、自动驾驶汽车和人工智能所必需的先进半导体的制造地点以及由谁制造。市场研究机构TrendForce第一季度的数据显示，台积电目前是最大的代工企业，控制着55%的市场份额，而三星则占17%。</blockquote></p><p> Samsung and Intel didn’t appear to be on a major collision course until Mr. Gelsinger rejoined Intel in January. He wants the company’s future to be making advanced chips not only for itself, but for others.</p><p><blockquote>直到基辛格一月份重新加入英特尔，三星和英特尔似乎才出现重大冲突。他希望公司的未来不仅为自己制造先进芯片，也为他人制造先进芯片。</blockquote></p><p> Mr. Gelsinger said in July that Intel already had more than 100 potential foundry customers lined up. They include Qualcomm, one of the biggest providers of chips for cellphones and a major Samsung customer. “We fully expect that this is going to be a great business for us,” he said on a call with analysts.</p><p><blockquote>Gelsinger先生在7月份表示，英特尔已经有100多个潜在代工客户在排队。其中包括高通，最大的手机芯片供应商之一，也是三星的主要客户。“我们完全预计这对我们来说将是一项伟大的业务，”他在与分析师的看涨期权中表示。</blockquote></p><p> Samsung said it is targeting 20% annual sales growth for its foundry business this year as demand increases, said Shawn Han, a senior vice president for the company’s foundry operations, in a Thursday earnings call. “We will maximize our capabilities to supply chips,” Mr. Han said.</p><p><blockquote>三星代工业务高级副总裁Shawn Han在周四的财报看涨期权上表示，随着需求的增加，三星今年的代工业务目标是年销售额增长20%。“我们将最大限度地提高芯片供应能力，”韩先生说。</blockquote></p><p> It is a robust time for the chip industry, writ large. Global semiconductor revenue is expected to grow 12.5% this year to $522 billion, according to International Data Corp., a market researcher. Global shortages have handed chip makers pricing power and abundant orders.</p><p><blockquote>对于芯片行业来说，这是一个强劲的时期。根据市场研究机构国际数据公司（International Data Corp.）的数据，今年全球半导体收入预计将增长12.5%，达到5220亿美元。全球短缺让芯片制造商获得了定价权和充足的订单。</blockquote></p><p> Going forward, Samsung and Intel will look to fund their foundry aspirations by leaning on cash-cow chip businesses that have done well during the pandemic.</p><p><blockquote>展望未来，三星和英特尔将依靠在疫情期间表现良好的摇钱树芯片业务来资助他们的代工愿望。</blockquote></p><p></p><p> Samsung’s rise to No. 1 in revenue reflects the overwhelming demand for memory chips—they typically cost just a few dollars apiece, compared with hundreds of dollars and often more for the central processing units that provide most of Intel’s income.</p><p><blockquote>三星在收入方面跃升至第一，反映了对存储芯片的巨大需求——它们通常每块成本仅为几美元，而为英特尔提供大部分收入的中央处理器的成本则高达数百美元，而且往往更高。</blockquote></p><p> For the full year, global memory sales are expected to rise 33%, while revenue from CPUs, which go in PCs and data servers, is expected to grow by 4%, according to market researcher Gartner Inc. While PC sales soared during the pandemic and are still rising, growth has slowed of late, according to IDC. And Intel is having to fend off rival CPU makers like&nbsp;Advanced Micro Devices&nbsp;Inc.,&nbsp;while some big clients forgo Intel-made chips for in-house alternatives.</p><p><blockquote>根据市场研究公司Gartner Inc.的数据，全年全球内存销售额预计将增长33%，而用于PC和数据服务器的CPU收入预计将增长4%。根据IDC的数据，虽然PC销售额在疫情期间飙升，但仍在增长，但最近增长放缓。英特尔不得不抵御像Advanced Micro Devices Inc.这样的竞争对手CPU制造商，而一些大客户放弃了英特尔制造的芯片，转而选择内部替代品。</blockquote></p><p> In March, Mr. Gelsinger unveiled his turnaround plan, along with more than $20 billion in investments in two plants in Arizona. He followed, in May, with a $3.5 billion expansion effort in New Mexico. Additional capacity growth, in the U.S. and abroad, is in the planning stages.</p><p><blockquote>今年3月，基辛格公布了他的扭亏为盈计划，以及对亚利桑那州两家工厂超过200亿美元的投资。随后，他在5月份斥资35亿美元在新墨西哥州进行了扩张。美国和国外的额外产能增长正处于规划阶段。</blockquote></p><p> In an interview after Intel’s second-quarter earnings announcement, Mr. Gelsinger expressed optimism about the company’s core business, citing appetite for new computers a&nbsp;<a href=\"https://laohu8.com/S/MSFT\">Microsoft</a>’s&nbsp;Windows 11 operating system hits the market later this year. “We see that strength continuing in the next year and beyond,” he said.</p><p><blockquote>在英特尔公布第二季度财报后的一次采访中，基辛格先生对公司的核心业务表示乐观，理由是对新电脑和<a href=\"https://laohu8.com/S/MSFT\">微软</a>的Windows 11操作系统将于今年晚些时候上市。“我们看到这种实力在明年及以后将持续下去，”他说。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Samsung Takes Intel’s Chip-Seller Crown, but Bigger Showdown Looms<blockquote>三星夺得英特尔芯片销售商桂冠，但更大的摊牌迫在眉睫</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSamsung Takes Intel’s Chip-Seller Crown, but Bigger Showdown Looms<blockquote>三星夺得英特尔芯片销售商桂冠，但更大的摊牌迫在眉睫</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">The Wall Street Journal</strong><span class=\"h-time small\">2021-08-02 11:18</span>\n</p>\n</h4>\n</header>\n<article>\n<p><i><b>Cash is paramount as both companies seek to fund aggressive expansions into high-tech production.</b></i></p><p><blockquote><i><b>随着两家公司寻求为积极扩张高科技生产提供资金，现金至关重要。</b></i></blockquote></p><p> <i>Samsung overtook <a href=\"https://laohu8.com/S/INTC\">Intel</a> in the second quarter as the top chip maker by revenue and is expected to hold on to that distinction in the near future.</i></p><p><blockquote><i>三星反超<a href=\"https://laohu8.com/S/INTC\">英特尔</a>第二季度成为收入最高的芯片制造商，预计在不久的将来将保持这一地位。</i></blockquote></p><p> Intel&nbsp;Corp.&nbsp;aspires tochip-technology supremacy&nbsp;within four years. But for now, it has fallen from the industry’s top spot by one key measure.</p><p><blockquote>英特尔公司渴望在四年内占据芯片技术的主导地位。但就目前而言，它已经从行业第一的位置上跌落了一个关键指标。</blockquote></p><p> In the second quarter,&nbsp;<a href=\"https://laohu8.com/S/SSNNF\">Samsung Electronics Co., Ltd.</a> overtook Intel as the world’s top chip maker by revenue. Given divergent outlooks for their core businesses, the positioning is likely to stay that way in the near future, industry analysts say.</p><p><blockquote>二季度，<a href=\"https://laohu8.com/S/SSNNF\">三星电子有限公司。</a>超过英特尔成为全球收入最高的芯片制造商。行业分析师表示，鉴于其核心业务的前景不同，这种定位在不久的将来可能会保持这种状态。</blockquote></p><p> The South Korean tech company, which specializes in memory chips, racked up 22.74 trillion won, the equivalent of $19.7 billion,in semiconductor revenue&nbsp;during the April-June quarter.&nbsp;Total revenue for Intel, was $19.6 billion—or $18.5 billion after subtracting the contribution of a business unit it has agreed to sell.</p><p><blockquote>这家专注于存储芯片的韩国科技公司在4月至6月季度的半导体收入为22.74万亿韩元，相当于197亿美元。英特尔的总收入为196亿美元，减去其同意出售的一个业务部门的贡献后为185亿美元。</blockquote></p><p> Intel, based in Santa Clara, Calif., has held the No. 1 sales spot for much of the past three decades, ceding it to Samsung in 2017 and 2018 when memory-chip sales boomed.</p><p><blockquote>总部位于加州圣克拉拉的英特尔在过去三十年的大部分时间里一直保持着销量第一的位置，在2017年和2018年存储芯片销售蓬勃发展时将其让给了三星。</blockquote></p><p> The ranking is about more than bragging rights: Intel needs financial clout more than ever. Under new Chief Executive Pat Gelsinger, the company is embarking on an ambitious strategy to manufacture cutting-edge chips—one of the business world’s costliest endeavors.</p><p><blockquote>该排名不仅仅是吹牛的权利：英特尔比以往任何时候都更需要财务影响力。在新任首席执行官帕特·基辛格(Pat Gelsinger)的领导下，该公司正在实施一项雄心勃勃的战略来制造尖端芯片——这是商界成本最高的努力之一。</blockquote></p><p> <b>Chip Fight&nbsp;</b></p><p><blockquote><b>筹码大战</b></blockquote></p><p> A memory-market uptick helped Samsung'sshares outgain Intel's over the past year.</p><p><blockquote>内存市场的上涨帮助三星的股价在过去一年中超过了英特尔。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/8a4d0b49449e0776d721454dbe720e88\" tg-width=\"477\" tg-height=\"478\" width=\"100%\" height=\"auto\">Source: FactSet</p><p><blockquote>来源：FactSet</blockquote></p><p> Intel aspires to vault into a top-end foundry business, or the contract manufacturing of the most-advanced chips. In the race to miniaturize chip circuitry to the final nanometers, Intel joins a world populated by&nbsp;<a href=\"https://laohu8.com/S/TSM\">Taiwan Semiconductor Manufacturing</a> and Samsung, both of which have allocated more than $100 billion. More sales provide more cash for capital expenditures and to give to shareholders.</p><p><blockquote>英特尔渴望进军高端代工业务，即最先进芯片的合同制造业务。在将芯片电路小型化到最后纳米级的竞赛中，英特尔加入了一个由<a href=\"https://laohu8.com/S/TSM\">台积电</a>和三星，这两家公司的拨款都超过了1000亿美元。更多的销售为资本支出和股东提供了更多的现金。</blockquote></p><p> Though many firms, including&nbsp;<a href=\"https://laohu8.com/S/NVDA\">NVIDIA Corp</a> and&nbsp;<a href=\"https://laohu8.com/S/QCOM\">Qualcomm</a>,&nbsp;design superpowered chips, only TSMC and Samsung are able to manufacture them. Intel could join that list if its contract chip-making ambitions materialize.</p><p><blockquote>尽管许多公司，包括<a href=\"https://laohu8.com/S/NVDA\">英伟达公司</a>和<a href=\"https://laohu8.com/S/QCOM\">Qualcomm</a>，设计超能力芯片，只有台积电和三星能够制造。如果英特尔的合同芯片制造雄心得以实现，它可能会加入这一名单。</blockquote></p><p> With a&nbsp;global shortage of chips&nbsp;hobbling businesses world-wide, the U.S., Europe and other governments are offering tens of billions of dollars in incentives to spur the building of chip-making plants. But even so, such cutting-edge production requires advanced machines that cancost $150 million apiece, while a single facility can cost $20 billion.</p><p><blockquote>由于全球芯片短缺阻碍了全球企业的发展，美国、欧洲和其他国家政府正在提供数百亿美元的激励措施，以刺激芯片制造厂的建设。但即便如此，这种尖端生产需要先进的机器，每台机器的成本可能高达1.5亿美元，而单个设施的成本可能高达200亿美元。</blockquote></p><p> The next frontiers of chip making are so demanding that only TSMC, Samsung and Intel have the technological capability and deep pockets to proceed, said Dale Gai, a research director at Counterpoint Research. “I don’t see anyone in the No. 4 position,” he said.</p><p><blockquote>Counterpoint Research研究总监戴尔·盖(Dale Gai)表示，芯片制造的下一个前沿领域要求如此之高，以至于只有台积电、三星和英特尔拥有技术能力和雄厚的财力来继续进行。“我没有看到任何人处于第四名的位置，”他说。</blockquote></p><p> The three-company race will ultimately dictate where—and by whom—the advanced semiconductors essential for 5G cellular networks, self-driving cars and artificial intelligence are made. TSMC is currentlythe biggest foundry player, controlling 55% of the market, while Samsung represents 17%, according to first-quarter data from TrendForce, a market researcher.</p><p><blockquote>这场三家公司的竞赛将最终决定5G蜂窝网络、自动驾驶汽车和人工智能所必需的先进半导体的制造地点以及由谁制造。市场研究机构TrendForce第一季度的数据显示，台积电目前是最大的代工企业，控制着55%的市场份额，而三星则占17%。</blockquote></p><p> Samsung and Intel didn’t appear to be on a major collision course until Mr. Gelsinger rejoined Intel in January. He wants the company’s future to be making advanced chips not only for itself, but for others.</p><p><blockquote>直到基辛格一月份重新加入英特尔，三星和英特尔似乎才出现重大冲突。他希望公司的未来不仅为自己制造先进芯片，也为他人制造先进芯片。</blockquote></p><p> Mr. Gelsinger said in July that Intel already had more than 100 potential foundry customers lined up. They include Qualcomm, one of the biggest providers of chips for cellphones and a major Samsung customer. “We fully expect that this is going to be a great business for us,” he said on a call with analysts.</p><p><blockquote>Gelsinger先生在7月份表示，英特尔已经有100多个潜在代工客户在排队。其中包括高通，最大的手机芯片供应商之一，也是三星的主要客户。“我们完全预计这对我们来说将是一项伟大的业务，”他在与分析师的看涨期权中表示。</blockquote></p><p> Samsung said it is targeting 20% annual sales growth for its foundry business this year as demand increases, said Shawn Han, a senior vice president for the company’s foundry operations, in a Thursday earnings call. “We will maximize our capabilities to supply chips,” Mr. Han said.</p><p><blockquote>三星代工业务高级副总裁Shawn Han在周四的财报看涨期权上表示，随着需求的增加，三星今年的代工业务目标是年销售额增长20%。“我们将最大限度地提高芯片供应能力，”韩先生说。</blockquote></p><p> It is a robust time for the chip industry, writ large. Global semiconductor revenue is expected to grow 12.5% this year to $522 billion, according to International Data Corp., a market researcher. Global shortages have handed chip makers pricing power and abundant orders.</p><p><blockquote>对于芯片行业来说，这是一个强劲的时期。根据市场研究机构国际数据公司（International Data Corp.）的数据，今年全球半导体收入预计将增长12.5%，达到5220亿美元。全球短缺让芯片制造商获得了定价权和充足的订单。</blockquote></p><p> Going forward, Samsung and Intel will look to fund their foundry aspirations by leaning on cash-cow chip businesses that have done well during the pandemic.</p><p><blockquote>展望未来，三星和英特尔将依靠在疫情期间表现良好的摇钱树芯片业务来资助他们的代工愿望。</blockquote></p><p></p><p> Samsung’s rise to No. 1 in revenue reflects the overwhelming demand for memory chips—they typically cost just a few dollars apiece, compared with hundreds of dollars and often more for the central processing units that provide most of Intel’s income.</p><p><blockquote>三星在收入方面跃升至第一，反映了对存储芯片的巨大需求——它们通常每块成本仅为几美元，而为英特尔提供大部分收入的中央处理器的成本则高达数百美元，而且往往更高。</blockquote></p><p> For the full year, global memory sales are expected to rise 33%, while revenue from CPUs, which go in PCs and data servers, is expected to grow by 4%, according to market researcher Gartner Inc. While PC sales soared during the pandemic and are still rising, growth has slowed of late, according to IDC. And Intel is having to fend off rival CPU makers like&nbsp;Advanced Micro Devices&nbsp;Inc.,&nbsp;while some big clients forgo Intel-made chips for in-house alternatives.</p><p><blockquote>根据市场研究公司Gartner Inc.的数据，全年全球内存销售额预计将增长33%，而用于PC和数据服务器的CPU收入预计将增长4%。根据IDC的数据，虽然PC销售额在疫情期间飙升，但仍在增长，但最近增长放缓。英特尔不得不抵御像Advanced Micro Devices Inc.这样的竞争对手CPU制造商，而一些大客户放弃了英特尔制造的芯片，转而选择内部替代品。</blockquote></p><p> In March, Mr. Gelsinger unveiled his turnaround plan, along with more than $20 billion in investments in two plants in Arizona. He followed, in May, with a $3.5 billion expansion effort in New Mexico. Additional capacity growth, in the U.S. and abroad, is in the planning stages.</p><p><blockquote>今年3月，基辛格公布了他的扭亏为盈计划，以及对亚利桑那州两家工厂超过200亿美元的投资。随后，他在5月份斥资35亿美元在新墨西哥州进行了扩张。美国和国外的额外产能增长正处于规划阶段。</blockquote></p><p> In an interview after Intel’s second-quarter earnings announcement, Mr. Gelsinger expressed optimism about the company’s core business, citing appetite for new computers a&nbsp;<a href=\"https://laohu8.com/S/MSFT\">Microsoft</a>’s&nbsp;Windows 11 operating system hits the market later this year. “We see that strength continuing in the next year and beyond,” he said.</p><p><blockquote>在英特尔公布第二季度财报后的一次采访中，基辛格先生对公司的核心业务表示乐观，理由是对新电脑和<a href=\"https://laohu8.com/S/MSFT\">微软</a>的Windows 11操作系统将于今年晚些时候上市。“我们看到这种实力在明年及以后将持续下去，”他说。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.wsj.com/articles/samsung-takes-intels-chip-seller-crown-but-bigger-showdown-looms-11627812000?mod=hp_lista_pos5\">The Wall Street Journal</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"INTC":"英特尔","TSM":"台积电"},"source_url":"https://www.wsj.com/articles/samsung-takes-intels-chip-seller-crown-but-bigger-showdown-looms-11627812000?mod=hp_lista_pos5","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1131303656","content_text":"Cash is paramount as both companies seek to fund aggressive expansions into high-tech production.\nSamsung overtook Intel in the second quarter as the top chip maker by revenue and is expected to hold on to that distinction in the near future.\nIntel Corp. aspires tochip-technology supremacy within four years. But for now, it has fallen from the industry’s top spot by one key measure.\nIn the second quarter, Samsung Electronics Co., Ltd. overtook Intel as the world’s top chip maker by revenue. Given divergent outlooks for their core businesses, the positioning is likely to stay that way in the near future, industry analysts say.\nThe South Korean tech company, which specializes in memory chips, racked up 22.74 trillion won, the equivalent of $19.7 billion,in semiconductor revenue during the April-June quarter. Total revenue for Intel, was $19.6 billion—or $18.5 billion after subtracting the contribution of a business unit it has agreed to sell.\nIntel, based in Santa Clara, Calif., has held the No. 1 sales spot for much of the past three decades, ceding it to Samsung in 2017 and 2018 when memory-chip sales boomed.\nThe ranking is about more than bragging rights: Intel needs financial clout more than ever. Under new Chief Executive Pat Gelsinger, the company is embarking on an ambitious strategy to manufacture cutting-edge chips—one of the business world’s costliest endeavors.\nChip Fight \nA memory-market uptick helped Samsung'sshares outgain Intel's over the past year.\nSource: FactSet\nIntel aspires to vault into a top-end foundry business, or the contract manufacturing of the most-advanced chips. In the race to miniaturize chip circuitry to the final nanometers, Intel joins a world populated by Taiwan Semiconductor Manufacturing and Samsung, both of which have allocated more than $100 billion. More sales provide more cash for capital expenditures and to give to shareholders.\nThough many firms, including NVIDIA Corp and Qualcomm, design superpowered chips, only TSMC and Samsung are able to manufacture them. Intel could join that list if its contract chip-making ambitions materialize.\nWith a global shortage of chips hobbling businesses world-wide, the U.S., Europe and other governments are offering tens of billions of dollars in incentives to spur the building of chip-making plants. But even so, such cutting-edge production requires advanced machines that cancost $150 million apiece, while a single facility can cost $20 billion.\nThe next frontiers of chip making are so demanding that only TSMC, Samsung and Intel have the technological capability and deep pockets to proceed, said Dale Gai, a research director at Counterpoint Research. “I don’t see anyone in the No. 4 position,” he said.\nThe three-company race will ultimately dictate where—and by whom—the advanced semiconductors essential for 5G cellular networks, self-driving cars and artificial intelligence are made. TSMC is currentlythe biggest foundry player, controlling 55% of the market, while Samsung represents 17%, according to first-quarter data from TrendForce, a market researcher.\nSamsung and Intel didn’t appear to be on a major collision course until Mr. Gelsinger rejoined Intel in January. He wants the company’s future to be making advanced chips not only for itself, but for others.\nMr. Gelsinger said in July that Intel already had more than 100 potential foundry customers lined up. They include Qualcomm, one of the biggest providers of chips for cellphones and a major Samsung customer. “We fully expect that this is going to be a great business for us,” he said on a call with analysts.\nSamsung said it is targeting 20% annual sales growth for its foundry business this year as demand increases, said Shawn Han, a senior vice president for the company’s foundry operations, in a Thursday earnings call. “We will maximize our capabilities to supply chips,” Mr. Han said.\nIt is a robust time for the chip industry, writ large. Global semiconductor revenue is expected to grow 12.5% this year to $522 billion, according to International Data Corp., a market researcher. Global shortages have handed chip makers pricing power and abundant orders.\nGoing forward, Samsung and Intel will look to fund their foundry aspirations by leaning on cash-cow chip businesses that have done well during the pandemic.\nSamsung’s rise to No. 1 in revenue reflects the overwhelming demand for memory chips—they typically cost just a few dollars apiece, compared with hundreds of dollars and often more for the central processing units that provide most of Intel’s income.\nFor the full year, global memory sales are expected to rise 33%, while revenue from CPUs, which go in PCs and data servers, is expected to grow by 4%, according to market researcher Gartner Inc. While PC sales soared during the pandemic and are still rising, growth has slowed of late, according to IDC. And Intel is having to fend off rival CPU makers like Advanced Micro Devices Inc., while some big clients forgo Intel-made chips for in-house alternatives.\nIn March, Mr. Gelsinger unveiled his turnaround plan, along with more than $20 billion in investments in two plants in Arizona. He followed, in May, with a $3.5 billion expansion effort in New Mexico. Additional capacity growth, in the U.S. and abroad, is in the planning stages.\nIn an interview after Intel’s second-quarter earnings announcement, Mr. Gelsinger expressed optimism about the company’s core business, citing appetite for new computers a Microsoft’s Windows 11 operating system hits the market later this year. “We see that strength continuing in the next year and beyond,” he said.","news_type":1,"symbols_score_info":{"TSM":0.9,"SSNNF":0.9,"INTC":0.9}},"isVote":1,"tweetType":1,"viewCount":993,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":805294961,"gmtCreate":1627881621053,"gmtModify":1633755628105,"author":{"id":"4090936695088830","authorId":"4090936695088830","name":"jitkun","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4090936695088830","idStr":"4090936695088830"},"themes":[],"htmlText":"wow","listText":"wow","text":"wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/805294961","repostId":"2156816448","repostType":4,"repost":{"id":"2156816448","kind":"highlight","pubTimestamp":1627881172,"share":"https://www.laohu8.com/m/news/2156816448?lang=zh_CN&edition=full","pubTime":"2021-08-02 13:12","market":"us","language":"en","title":"The buy now, pay later wave: Afterpay, Klarna, Affirm and rivals hope to take U.S. by storm<blockquote>先买后付浪潮：Afterpay、Klarna、Affirm和竞争对手希望席卷美国</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=2156816448","media":"MarketWatch","summary":"A new form of online layway purchases has proved popular in Europe and found acceptance in the U.S. ","content":"<p>A new form of online layway purchases has proved popular in Europe and found acceptance in the U.S. for products like Peloton equipment, and companies are going public with their eyes on spurring the payment option to faster domestic growth</p><p><blockquote>事实证明，一种新的在线layway购买形式在欧洲很受欢迎，并在美国被Peloton设备等产品所接受，公司正在上市，着眼于刺激这种支付方式以加快国内增长</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/84930a25114bbd7d680d015b31af0be5\" tg-width=\"700\" tg-height=\"487\" width=\"100%\" height=\"auto\"><span>MARKETWATCH PHOTO ILLUSTRATION/ISTOCKPHOTO</span></p><p><blockquote><p class=\"t-img-caption\"><span>MARKETWATCH照片插图/ISTOCKPHOTO</span></p></blockquote></p><p> A new form of digital layaway has taken Europe by storm and found some acceptance in the U.S., and the growing handful of rivals in the space are looking to spur more online purchases that Americans pay for over time.</p><p><blockquote>一种新形式的数字分期付款席卷了欧洲，并在美国获得了一些认可，随着时间的推移，该领域越来越多的竞争对手希望刺激更多美国人付费的在线购物。</blockquote></p><p> \"Buy now, pay later\" options -- referred to in the payments industry as BNPL -- offer a twist on the concept of layaway, allowing consumers to split purchases into installments and charging them either simple interest or no interest at all, in a break from the traditional credit model that lets interest compound. Unlike with traditional layaway, consumers receive instant access to their purchase as they pay it off.</p><p><blockquote>“先买后付”选项——在支付行业被称为BNPL——对分期付款的概念进行了改变，允许消费者将购买分成分期付款，并向他们收取单利或根本不收取利息，打破了允许复利的传统信贷模式。与传统的分期付款不同，消费者在还清时可以立即获得购买的商品。</blockquote></p><p> Furniture companies have long let people pay for big-ticket items in installments while taking the product home right away, but now the concept has made its way online, spreading across industries and into smaller purchase amounts, JMP Securities analyst David Scharf noted. Those looking to build fancy home gyms during the pandemic could split the cost of an $1,800-plus Peloton Interactive Inc. <a href=\"https://laohu8.com/S/PTON\">$(PTON)$</a> bike into 39 interest-free monthly payments of $49 using financing from Affirm Holdings Inc. <a href=\"https://laohu8.com/S/AFRM\">$(AFRM)$</a> A host of other players have been rushing to stake their claims elsewhere in the U.S. retail market.</p><p><blockquote>JMP证券分析师大卫·沙夫(David Scharf)指出，家具公司长期以来一直允许人们分期付款购买大件商品，同时立即将产品带回家，但现在这一概念已经在网上传播，跨行业传播，购买金额较小。那些希望在疫情期间建造豪华家庭健身房的人可以分摊1,800多美元的Peloton Interactive Inc.的成本。<a href=\"https://laohu8.com/S/PTON\">$（PTON）$</a>使用Affirm Holdings Inc.的融资，每月支付39笔49美元的免息款项。<a href=\"https://laohu8.com/S/AFRM\">$(AFRM)$</a>许多其他参与者一直在争先恐后地在美国零售市场的其他地方占据一席之地。</blockquote></p><p> The services are seeing surging adoption, driven by growing merchant acceptance, booming e-commerce sales, and what many providers say is a skepticism among younger shoppers about traditional credit offerings. Though BNPL services accounted for just 2% of U.S. e-commerce payments last year according to FIS Global, they're rapidly gaining in popularity. The value of purchases made using BNPL offerings rose 132% in the first quarter, per data from Cardify.ai.</p><p><blockquote>在商家接受度不断提高、电子商务销售蓬勃发展以及许多提供商所说的年轻购物者对传统信贷产品的怀疑的推动下，这些服务的采用率激增。根据FIS Global的数据，尽管去年BNPL服务仅占美国电子商务支付的2%，但它们正在迅速流行。根据Cardify.ai的数据，第一季度使用BNPL产品进行的购买价值增长了132%。</blockquote></p><p> BNPL services are more prevalent overseas, accounting for more than 7% of European e-commerce transactions in 2020 and 10% of Australian ones, according to FIS Global. In Sweden, home to BNPL provider Klarna, installments accounted for 23% of e-commerce transactions last year.</p><p><blockquote>根据FIS Global的数据，BNPL服务在海外更为普遍，2020年占欧洲电子商务交易的7%以上，占澳大利亚电子商务交易的10%。在BNPL提供商Klarna的所在地瑞典，去年分期付款占电子商务交易的23%。</blockquote></p><p> The installment wave has drawn the interest of established giants like <a href=\"https://laohu8.com/S/V\">Visa</a> Inc. (V) and <a href=\"https://laohu8.com/S/PYPL\">PayPal</a> Holdings Inc. (PYPL), as well as a host of newer fintech players that have carved out different paths as they seek to stake their claims in the nascent U.S. market.</p><p><blockquote>分期浪潮吸引了老牌巨头的兴趣，如<a href=\"https://laohu8.com/S/V\">签证</a>公司(V)及<a href=\"https://laohu8.com/S/PYPL\">PayPal</a>控股公司（PYPL）以及许多新兴的金融科技公司在寻求在新兴的美国市场占据一席之地时开辟了不同的道路。</blockquote></p><p> The trend is of growing relevance to investors. U.S. startup Affirm recently went public, while Australia's Afterpay Ltd. , which trades in its home country, is contemplating a U.S. listing given the growing importance of the U.S. market to its business. Sweden's Klarna is considering an IPO in the U.K ., according to Bloomberg, though its chief executive has expressed some concerns about potential regulations.</p><p><blockquote>这一趋势与投资者的相关性越来越大。美国初创公司Affirm最近上市，而在本国开展业务的澳大利亚Afterpay Ltd.鉴于美国市场对其业务的重要性日益增加，正在考虑在美国上市。据彭博报道，瑞典Klarna正在考虑在英国首次公开募股，尽管其首席执行官对潜在的监管表示了一些担忧。</blockquote></p><p> In the credit-card model, merchants pay transaction fees when they accept card payments and consumers pay accrued interest if they carry a balance. BNPL services, which can sometimes be interest-free to the consumer, charge a steeper fee to merchants, who've been increasingly willing to pay up for the services so that consumers will be more inclined to go through with an online purchase.</p><p><blockquote>在信用卡模式中，商家在接受信用卡支付时支付交易费用，消费者如果有余额则支付应计利息。BNPL服务有时对消费者来说是免息的，但向商家收取更高的费用，而商家越来越愿意为服务付费，因此消费者将更倾向于进行在线购买。</blockquote></p><p> BNPL sits amid a number of attractive industry trends, according to Jefferies analyst John Hecht, who sees a $600 billion total transaction opportunity for the industry in the U.S., based on the value of e-commerce purchases made outside of Amazon.com Inc. <a href=\"https://laohu8.com/S/AMZN\">$(AMZN)$</a> He expects that the services could take a bite out of what he views as an $840 billion dollar total addressable market for fintech-enabled credit products.</p><p><blockquote>Jefferies分析师John Hecht表示，BNPL正处于许多有吸引力的行业趋势之中，根据亚马逊公司以外的电子商务采购价值，他认为美国该行业的交易机会总额为6000亿美元。<a href=\"https://laohu8.com/S/AMZN\">$(AMZN)$</a>他预计，这些服务可能会蚕食他认为金融科技支持的信贷产品总潜在市场8400亿美元。</blockquote></p><p> While BNPL offerings are structured differently than traditional credit, they aren't without risk. The various BNPL companies have different policies about missed payments, but some will charge late fees or report to the credit bureaus about failures to make good on payment commitments. The industry is largely unregulated and there are concerns that consumers could end up taking on more installment commitments than they can afford to pay back in the allotted timeframes, especially in a credit crunch.</p><p><blockquote>虽然BNPL产品的结构与传统信贷不同，但它们并非没有风险。不同的BNPL公司对逾期付款有不同的政策，但有些公司会收取滞纳金或向信用机构报告未能履行付款承诺的情况。该行业在很大程度上不受监管，人们担心消费者最终可能会承担比他们在规定时间内偿还的更多分期付款承诺，尤其是在信贷紧缩的情况下。</blockquote></p><p> The companies have different approaches to the U.S. as they try to build or expand their BNPL businesses. MarketWatch spoke to executives at some of the leading offerings to find out their strategies for the market.</p><p><blockquote>这些公司在试图建立或扩大其BNPL业务时对美国采取了不同的做法。MarketWatch采访了一些领先产品的高管，了解他们的市场策略。</blockquote></p><p> <b>Affirm</b></p><p><blockquote><b>申明</b></blockquote></p><p></p><p> While Peloton is Affirm's largest customer, the BNPL company has been expanding its merchant mix, which doubled from a year earlier in the latest quarter to reach almost 12,000 retailers.</p><p><blockquote>虽然Peloton是Affirm最大的客户，但这家BNPL公司一直在扩大其商户组合，最近一个季度的商户组合比去年同期增加了一倍，达到近12,000家零售商。</blockquote></p><p> One move to diversify the company's merchant base is a recent arrangement with <a href=\"https://laohu8.com/S/SHOP\">Shopify Inc</a>. (SHOP.T) that makes it easy for the e-commerce company's merchants to enable Affirm's installment offerings. In exchange, Shopify got equity interest in Affirm.</p><p><blockquote>公司商户基础多元化的一项举措是最近与<a href=\"https://laohu8.com/S/SHOP\">Shopify公司</a>.(SHOP.T)这使得该电子商务公司的商家可以轻松启用Affirm的分期付款产品。作为交换，Shopify获得了Affirm的股权。</blockquote></p><p> \"Because of the nature of the relationship, they have every incentive in the world to make sure it's successful,\" Chief Financial Officer Michael Linford said. He expects that the deal \"will add substantially more value to us than we had to give up\" since Shopify's vast merchant base is \"really difficult if not impossible to build.\"</p><p><blockquote>首席财务官迈克尔·林福德(Michael Linford)表示：“由于这种关系的性质，他们有世界上所有的动力来确保其成功。”他预计这笔交易“将为我们增加比我们不得不放弃的更多的价值”，因为Shopify庞大的商家基础“即使不是不可能建立，也确实很困难”。</blockquote></p><p> Affirm offers a mix of simple-interest and interest-free installment options, and Linford said that the company is particularly differentiated in its work with high-value purchases as its tech and risk-management capabilities enable it to \"create a lot of value for merchants.\" Affirm's underwriting determines which customers would be capable of making their installment payments on big-ticket items.</p><p><blockquote>Affirm提供单息和免息分期付款选项，林福德表示，该公司在高价值采购方面尤其与众不同，因为其技术和风险管理能力使其能够“为商家创造大量价值”。”Affirm的承保决定了哪些客户有能力对大件商品进行分期付款。</blockquote></p><p> At the same time, Affirm sees value in helping to facilitate ordinary spending as well, and it recently announced a debit card that will let people buy things and split them after the fact using their cards.</p><p><blockquote>与此同时，Affirm也看到了帮助促进普通支出的价值，它最近宣布了一种借记卡，可以让人们购买东西，并在事后使用他们的卡进行分割。</blockquote></p><p> The company doesn't charge late fees for customers who miss payments, according to Linford. For customers who ultimately fail to make good on smaller-value payments, the company may lock down access to the Affirm network going forward. Those who don't pay up for bigger-ticket items could be reported to a credit bureau.</p><p><blockquote>林福德表示，该公司不会对错过付款的客户收取滞纳金。对于最终无法兑现小额付款的客户，该公司可能会锁定对Affirm网络的访问。那些不支付大件商品费用的人可能会被举报给信用局。</blockquote></p><p> About 30% of Affirm transactions originate from within the company's \"properties\"--mainly its mobile app--rather than from merchants' own sites. The app is \"really, really powerful for re-engagement\" of users, Linford said, and merchants can pay to show new products or offers on the platform.</p><p><blockquote>大约30%的Affirm交易来自该公司的“资产”内部——主要是其移动应用程序——而不是来自商家自己的网站。林福德表示，该应用程序对于用户的重新参与“非常非常强大”，商家可以付费在平台上展示新产品或优惠。</blockquote></p><p> As e-commerce booms, there's a \"quite aggressive fight to get any sort of mindshare,\" Linford said, and he argued that the platform holds appeal with brands looking to reach younger-generation consumers who have \"high intent and capacity to purchase.\"</p><p><blockquote>林福德表示，随着电子商务的蓬勃发展，“为了获得任何形式的关注度而进行了相当激烈的斗争”，他认为该平台对那些希望吸引“有很高购买意愿和能力”的年轻一代消费者的品牌具有吸引力。”</blockquote></p><p> Because the company enables shopping from within its app, its customers can split purchases even from merchants that don't list Affirm as payment options on their own websites. There's no Affirm button on Amazon's traditional website, for instance, but the e-commerce giant is <a href=\"https://laohu8.com/S/AONE.U\">one</a> of the largest merchants within the Affirm app, Linford said. Affirm uses virtual cards to split customers' Amazon purchases on the back end.</p><p><blockquote>由于该公司支持在其应用程序内购物，因此其客户甚至可以从没有在自己的网站上将Affirm列为支付选项的商家那里分割购买。例如，亚马逊的传统网站上没有确认按钮，但这家电子商务巨头却有<a href=\"https://laohu8.com/S/AONE.U\">一</a>林福德说，Affirm应用程序中最大的商家。Affirm使用虚拟卡在后端分割客户的亚马逊购买。</blockquote></p><p> <b>Afterpay</b></p><p><blockquote><b>Afterpay</b></blockquote></p><p> After helping to kick off the BNPL trend in Australia, Afterpay came to the U.S. market less than three years ago with a focus on interest-free offerings.</p><p><blockquote>在帮助澳大利亚掀起BNPL趋势后，Afterpay不到三年前进入美国市场，专注于免息产品。</blockquote></p><p> Afterpay is \"not trying to upsell someone credit,\" Co-Chief Executive Nick Molnar told MarketWatch, and the company has been \"purposefully focused on the couple-hundred-dollar purchase\" thus far.</p><p><blockquote>Afterpay联席首席执行官尼克·莫尔纳尔(Nick Molnar)告诉MarketWatch，“并不试图向某人追加销售信用”，到目前为止，该公司一直“有目的地专注于数百美元的购买”。</blockquote></p><p> The company charges a late fee after an initial grace period for consumers who fall behind on payments, and it cuts customers off from making future purchases until they pay back what they owe.</p><p><blockquote>该公司在最初的宽限期后对拖欠付款的消费者收取滞纳金，并切断客户未来的购买权，直到他们偿还所欠款项。</blockquote></p><p> \"Unlike a finance company that wants you to be late...with Afterpay you can't keep shopping\" after missing a payment, Molnar said. That dynamic fosters a better relationship with customers, in his view.</p><p><blockquote>莫尔纳尔说，“与希望你迟到的金融公司不同……有了Afterpay，你在错过付款后就无法继续购物”。在他看来，这种动态培养了与客户更好的关系。</blockquote></p><p> Afterpay's North America merchant base grew more than 150% in the latest quarter relative to a year earlier. In the U.S., underlying sales, or the value of items purchased through its service, increased 211%.</p><p><blockquote>Afterpay的北美商户群在最近一个季度同比增长了150%以上。在美国，基础销售额或通过其服务购买的商品价值增长了211%。</blockquote></p><p> The company now works with 23,000 retail brands in the U.S. including Bed Bath &amp; Beyond Inc. <a href=\"https://laohu8.com/S/BBBY\">$(BBBY)$</a> and Lululemon Athletica Inc. <a href=\"https://laohu8.com/S/LULU\">$(LULU)$</a>. A recent partnership with Stripe made it easy for that company's merchants to easily activate Afterpay as a checkout option.</p><p><blockquote>该公司目前与美国23,000个零售品牌合作，其中包括Bed Bath&amp;Beyond Inc.。<a href=\"https://laohu8.com/S/BBBY\">$(BBBY)$</a>和Lululemon Athletica Inc.<a href=\"https://laohu8.com/S/LULU\">$（露露）$</a>.最近与Stripe的合作使该公司的商家可以轻松激活Afterpay作为结账选项。</blockquote></p><p> The company may process 10% to 30% of transactions for its retail partners once enabled as a payment option, Molnar said.</p><p><blockquote>Molnar表示，一旦启用支付选项，该公司可能会为其零售合作伙伴处理10%至30%的交易。</blockquote></p><p> Afterpay is building a presence beyond the checkout button, with 17% of purchases globally during the month of February originating from Shop Directory, meaning that these customers are locating merchants through Afterpay's app or site.</p><p><blockquote>Afterpay正在建立结账按钮之外的业务，2月份全球17%的购买来自商店目录，这意味着这些客户正在通过Afterpay的应用程序或网站找到商家。</blockquote></p><p> While Afterpay is relatively new in the U.S., its success in Australia \"puts into perspective where Afterpay can expand as a business,\" Molnar said. In Australia, 25% of volume comes from in-store purchases, and consumers can pay for things like dentist visits using the service.</p><p><blockquote>莫尔纳尔说，虽然Afterpay在美国相对较新，但它在澳大利亚的成功“让我们看到了Afterpay作为一项业务可以扩展的地方”。在澳大利亚，25%的销量来自店内购买，消费者可以使用该服务支付看牙医等费用。</blockquote></p><p></p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The buy now, pay later wave: Afterpay, Klarna, Affirm and rivals hope to take U.S. by storm<blockquote>先买后付浪潮：Afterpay、Klarna、Affirm和竞争对手希望席卷美国</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe buy now, pay later wave: Afterpay, Klarna, Affirm and rivals hope to take U.S. by storm<blockquote>先买后付浪潮：Afterpay、Klarna、Affirm和竞争对手希望席卷美国</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-08-02 13:12</span>\n</p>\n</h4>\n</header>\n<article>\n<p>A new form of online layway purchases has proved popular in Europe and found acceptance in the U.S. for products like Peloton equipment, and companies are going public with their eyes on spurring the payment option to faster domestic growth</p><p><blockquote>事实证明，一种新的在线layway购买形式在欧洲很受欢迎，并在美国被Peloton设备等产品所接受，公司正在上市，着眼于刺激这种支付方式以加快国内增长</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/84930a25114bbd7d680d015b31af0be5\" tg-width=\"700\" tg-height=\"487\" width=\"100%\" height=\"auto\"><span>MARKETWATCH PHOTO ILLUSTRATION/ISTOCKPHOTO</span></p><p><blockquote><p class=\"t-img-caption\"><span>MARKETWATCH照片插图/ISTOCKPHOTO</span></p></blockquote></p><p> A new form of digital layaway has taken Europe by storm and found some acceptance in the U.S., and the growing handful of rivals in the space are looking to spur more online purchases that Americans pay for over time.</p><p><blockquote>一种新形式的数字分期付款席卷了欧洲，并在美国获得了一些认可，随着时间的推移，该领域越来越多的竞争对手希望刺激更多美国人付费的在线购物。</blockquote></p><p> \"Buy now, pay later\" options -- referred to in the payments industry as BNPL -- offer a twist on the concept of layaway, allowing consumers to split purchases into installments and charging them either simple interest or no interest at all, in a break from the traditional credit model that lets interest compound. Unlike with traditional layaway, consumers receive instant access to their purchase as they pay it off.</p><p><blockquote>“先买后付”选项——在支付行业被称为BNPL——对分期付款的概念进行了改变，允许消费者将购买分成分期付款，并向他们收取单利或根本不收取利息，打破了允许复利的传统信贷模式。与传统的分期付款不同，消费者在还清时可以立即获得购买的商品。</blockquote></p><p> Furniture companies have long let people pay for big-ticket items in installments while taking the product home right away, but now the concept has made its way online, spreading across industries and into smaller purchase amounts, JMP Securities analyst David Scharf noted. Those looking to build fancy home gyms during the pandemic could split the cost of an $1,800-plus Peloton Interactive Inc. <a href=\"https://laohu8.com/S/PTON\">$(PTON)$</a> bike into 39 interest-free monthly payments of $49 using financing from Affirm Holdings Inc. <a href=\"https://laohu8.com/S/AFRM\">$(AFRM)$</a> A host of other players have been rushing to stake their claims elsewhere in the U.S. retail market.</p><p><blockquote>JMP证券分析师大卫·沙夫(David Scharf)指出，家具公司长期以来一直允许人们分期付款购买大件商品，同时立即将产品带回家，但现在这一概念已经在网上传播，跨行业传播，购买金额较小。那些希望在疫情期间建造豪华家庭健身房的人可以分摊1,800多美元的Peloton Interactive Inc.的成本。<a href=\"https://laohu8.com/S/PTON\">$（PTON）$</a>使用Affirm Holdings Inc.的融资，每月支付39笔49美元的免息款项。<a href=\"https://laohu8.com/S/AFRM\">$(AFRM)$</a>许多其他参与者一直在争先恐后地在美国零售市场的其他地方占据一席之地。</blockquote></p><p> The services are seeing surging adoption, driven by growing merchant acceptance, booming e-commerce sales, and what many providers say is a skepticism among younger shoppers about traditional credit offerings. Though BNPL services accounted for just 2% of U.S. e-commerce payments last year according to FIS Global, they're rapidly gaining in popularity. The value of purchases made using BNPL offerings rose 132% in the first quarter, per data from Cardify.ai.</p><p><blockquote>在商家接受度不断提高、电子商务销售蓬勃发展以及许多提供商所说的年轻购物者对传统信贷产品的怀疑的推动下，这些服务的采用率激增。根据FIS Global的数据，尽管去年BNPL服务仅占美国电子商务支付的2%，但它们正在迅速流行。根据Cardify.ai的数据，第一季度使用BNPL产品进行的购买价值增长了132%。</blockquote></p><p> BNPL services are more prevalent overseas, accounting for more than 7% of European e-commerce transactions in 2020 and 10% of Australian ones, according to FIS Global. In Sweden, home to BNPL provider Klarna, installments accounted for 23% of e-commerce transactions last year.</p><p><blockquote>根据FIS Global的数据，BNPL服务在海外更为普遍，2020年占欧洲电子商务交易的7%以上，占澳大利亚电子商务交易的10%。在BNPL提供商Klarna的所在地瑞典，去年分期付款占电子商务交易的23%。</blockquote></p><p> The installment wave has drawn the interest of established giants like <a href=\"https://laohu8.com/S/V\">Visa</a> Inc. (V) and <a href=\"https://laohu8.com/S/PYPL\">PayPal</a> Holdings Inc. (PYPL), as well as a host of newer fintech players that have carved out different paths as they seek to stake their claims in the nascent U.S. market.</p><p><blockquote>分期浪潮吸引了老牌巨头的兴趣，如<a href=\"https://laohu8.com/S/V\">签证</a>公司(V)及<a href=\"https://laohu8.com/S/PYPL\">PayPal</a>控股公司（PYPL）以及许多新兴的金融科技公司在寻求在新兴的美国市场占据一席之地时开辟了不同的道路。</blockquote></p><p> The trend is of growing relevance to investors. U.S. startup Affirm recently went public, while Australia's Afterpay Ltd. , which trades in its home country, is contemplating a U.S. listing given the growing importance of the U.S. market to its business. Sweden's Klarna is considering an IPO in the U.K ., according to Bloomberg, though its chief executive has expressed some concerns about potential regulations.</p><p><blockquote>这一趋势与投资者的相关性越来越大。美国初创公司Affirm最近上市，而在本国开展业务的澳大利亚Afterpay Ltd.鉴于美国市场对其业务的重要性日益增加，正在考虑在美国上市。据彭博报道，瑞典Klarna正在考虑在英国首次公开募股，尽管其首席执行官对潜在的监管表示了一些担忧。</blockquote></p><p> In the credit-card model, merchants pay transaction fees when they accept card payments and consumers pay accrued interest if they carry a balance. BNPL services, which can sometimes be interest-free to the consumer, charge a steeper fee to merchants, who've been increasingly willing to pay up for the services so that consumers will be more inclined to go through with an online purchase.</p><p><blockquote>在信用卡模式中，商家在接受信用卡支付时支付交易费用，消费者如果有余额则支付应计利息。BNPL服务有时对消费者来说是免息的，但向商家收取更高的费用，而商家越来越愿意为服务付费，因此消费者将更倾向于进行在线购买。</blockquote></p><p> BNPL sits amid a number of attractive industry trends, according to Jefferies analyst John Hecht, who sees a $600 billion total transaction opportunity for the industry in the U.S., based on the value of e-commerce purchases made outside of Amazon.com Inc. <a href=\"https://laohu8.com/S/AMZN\">$(AMZN)$</a> He expects that the services could take a bite out of what he views as an $840 billion dollar total addressable market for fintech-enabled credit products.</p><p><blockquote>Jefferies分析师John Hecht表示，BNPL正处于许多有吸引力的行业趋势之中，根据亚马逊公司以外的电子商务采购价值，他认为美国该行业的交易机会总额为6000亿美元。<a href=\"https://laohu8.com/S/AMZN\">$(AMZN)$</a>他预计，这些服务可能会蚕食他认为金融科技支持的信贷产品总潜在市场8400亿美元。</blockquote></p><p> While BNPL offerings are structured differently than traditional credit, they aren't without risk. The various BNPL companies have different policies about missed payments, but some will charge late fees or report to the credit bureaus about failures to make good on payment commitments. The industry is largely unregulated and there are concerns that consumers could end up taking on more installment commitments than they can afford to pay back in the allotted timeframes, especially in a credit crunch.</p><p><blockquote>虽然BNPL产品的结构与传统信贷不同，但它们并非没有风险。不同的BNPL公司对逾期付款有不同的政策，但有些公司会收取滞纳金或向信用机构报告未能履行付款承诺的情况。该行业在很大程度上不受监管，人们担心消费者最终可能会承担比他们在规定时间内偿还的更多分期付款承诺，尤其是在信贷紧缩的情况下。</blockquote></p><p> The companies have different approaches to the U.S. as they try to build or expand their BNPL businesses. MarketWatch spoke to executives at some of the leading offerings to find out their strategies for the market.</p><p><blockquote>这些公司在试图建立或扩大其BNPL业务时对美国采取了不同的做法。MarketWatch采访了一些领先产品的高管，了解他们的市场策略。</blockquote></p><p> <b>Affirm</b></p><p><blockquote><b>申明</b></blockquote></p><p></p><p> While Peloton is Affirm's largest customer, the BNPL company has been expanding its merchant mix, which doubled from a year earlier in the latest quarter to reach almost 12,000 retailers.</p><p><blockquote>虽然Peloton是Affirm最大的客户，但这家BNPL公司一直在扩大其商户组合，最近一个季度的商户组合比去年同期增加了一倍，达到近12,000家零售商。</blockquote></p><p> One move to diversify the company's merchant base is a recent arrangement with <a href=\"https://laohu8.com/S/SHOP\">Shopify Inc</a>. (SHOP.T) that makes it easy for the e-commerce company's merchants to enable Affirm's installment offerings. In exchange, Shopify got equity interest in Affirm.</p><p><blockquote>公司商户基础多元化的一项举措是最近与<a href=\"https://laohu8.com/S/SHOP\">Shopify公司</a>.(SHOP.T)这使得该电子商务公司的商家可以轻松启用Affirm的分期付款产品。作为交换，Shopify获得了Affirm的股权。</blockquote></p><p> \"Because of the nature of the relationship, they have every incentive in the world to make sure it's successful,\" Chief Financial Officer Michael Linford said. He expects that the deal \"will add substantially more value to us than we had to give up\" since Shopify's vast merchant base is \"really difficult if not impossible to build.\"</p><p><blockquote>首席财务官迈克尔·林福德(Michael Linford)表示：“由于这种关系的性质，他们有世界上所有的动力来确保其成功。”他预计这笔交易“将为我们增加比我们不得不放弃的更多的价值”，因为Shopify庞大的商家基础“即使不是不可能建立，也确实很困难”。</blockquote></p><p> Affirm offers a mix of simple-interest and interest-free installment options, and Linford said that the company is particularly differentiated in its work with high-value purchases as its tech and risk-management capabilities enable it to \"create a lot of value for merchants.\" Affirm's underwriting determines which customers would be capable of making their installment payments on big-ticket items.</p><p><blockquote>Affirm提供单息和免息分期付款选项，林福德表示，该公司在高价值采购方面尤其与众不同，因为其技术和风险管理能力使其能够“为商家创造大量价值”。”Affirm的承保决定了哪些客户有能力对大件商品进行分期付款。</blockquote></p><p> At the same time, Affirm sees value in helping to facilitate ordinary spending as well, and it recently announced a debit card that will let people buy things and split them after the fact using their cards.</p><p><blockquote>与此同时，Affirm也看到了帮助促进普通支出的价值，它最近宣布了一种借记卡，可以让人们购买东西，并在事后使用他们的卡进行分割。</blockquote></p><p> The company doesn't charge late fees for customers who miss payments, according to Linford. For customers who ultimately fail to make good on smaller-value payments, the company may lock down access to the Affirm network going forward. Those who don't pay up for bigger-ticket items could be reported to a credit bureau.</p><p><blockquote>林福德表示，该公司不会对错过付款的客户收取滞纳金。对于最终无法兑现小额付款的客户，该公司可能会锁定对Affirm网络的访问。那些不支付大件商品费用的人可能会被举报给信用局。</blockquote></p><p> About 30% of Affirm transactions originate from within the company's \"properties\"--mainly its mobile app--rather than from merchants' own sites. The app is \"really, really powerful for re-engagement\" of users, Linford said, and merchants can pay to show new products or offers on the platform.</p><p><blockquote>大约30%的Affirm交易来自该公司的“资产”内部——主要是其移动应用程序——而不是来自商家自己的网站。林福德表示，该应用程序对于用户的重新参与“非常非常强大”，商家可以付费在平台上展示新产品或优惠。</blockquote></p><p> As e-commerce booms, there's a \"quite aggressive fight to get any sort of mindshare,\" Linford said, and he argued that the platform holds appeal with brands looking to reach younger-generation consumers who have \"high intent and capacity to purchase.\"</p><p><blockquote>林福德表示，随着电子商务的蓬勃发展，“为了获得任何形式的关注度而进行了相当激烈的斗争”，他认为该平台对那些希望吸引“有很高购买意愿和能力”的年轻一代消费者的品牌具有吸引力。”</blockquote></p><p> Because the company enables shopping from within its app, its customers can split purchases even from merchants that don't list Affirm as payment options on their own websites. There's no Affirm button on Amazon's traditional website, for instance, but the e-commerce giant is <a href=\"https://laohu8.com/S/AONE.U\">one</a> of the largest merchants within the Affirm app, Linford said. Affirm uses virtual cards to split customers' Amazon purchases on the back end.</p><p><blockquote>由于该公司支持在其应用程序内购物，因此其客户甚至可以从没有在自己的网站上将Affirm列为支付选项的商家那里分割购买。例如，亚马逊的传统网站上没有确认按钮，但这家电子商务巨头却有<a href=\"https://laohu8.com/S/AONE.U\">一</a>林福德说，Affirm应用程序中最大的商家。Affirm使用虚拟卡在后端分割客户的亚马逊购买。</blockquote></p><p> <b>Afterpay</b></p><p><blockquote><b>Afterpay</b></blockquote></p><p> After helping to kick off the BNPL trend in Australia, Afterpay came to the U.S. market less than three years ago with a focus on interest-free offerings.</p><p><blockquote>在帮助澳大利亚掀起BNPL趋势后，Afterpay不到三年前进入美国市场，专注于免息产品。</blockquote></p><p> Afterpay is \"not trying to upsell someone credit,\" Co-Chief Executive Nick Molnar told MarketWatch, and the company has been \"purposefully focused on the couple-hundred-dollar purchase\" thus far.</p><p><blockquote>Afterpay联席首席执行官尼克·莫尔纳尔(Nick Molnar)告诉MarketWatch，“并不试图向某人追加销售信用”，到目前为止，该公司一直“有目的地专注于数百美元的购买”。</blockquote></p><p> The company charges a late fee after an initial grace period for consumers who fall behind on payments, and it cuts customers off from making future purchases until they pay back what they owe.</p><p><blockquote>该公司在最初的宽限期后对拖欠付款的消费者收取滞纳金，并切断客户未来的购买权，直到他们偿还所欠款项。</blockquote></p><p> \"Unlike a finance company that wants you to be late...with Afterpay you can't keep shopping\" after missing a payment, Molnar said. That dynamic fosters a better relationship with customers, in his view.</p><p><blockquote>莫尔纳尔说，“与希望你迟到的金融公司不同……有了Afterpay，你在错过付款后就无法继续购物”。在他看来，这种动态培养了与客户更好的关系。</blockquote></p><p> Afterpay's North America merchant base grew more than 150% in the latest quarter relative to a year earlier. In the U.S., underlying sales, or the value of items purchased through its service, increased 211%.</p><p><blockquote>Afterpay的北美商户群在最近一个季度同比增长了150%以上。在美国，基础销售额或通过其服务购买的商品价值增长了211%。</blockquote></p><p> The company now works with 23,000 retail brands in the U.S. including Bed Bath &amp; Beyond Inc. <a href=\"https://laohu8.com/S/BBBY\">$(BBBY)$</a> and Lululemon Athletica Inc. <a href=\"https://laohu8.com/S/LULU\">$(LULU)$</a>. A recent partnership with Stripe made it easy for that company's merchants to easily activate Afterpay as a checkout option.</p><p><blockquote>该公司目前与美国23,000个零售品牌合作，其中包括Bed Bath&amp;Beyond Inc.。<a href=\"https://laohu8.com/S/BBBY\">$(BBBY)$</a>和Lululemon Athletica Inc.<a href=\"https://laohu8.com/S/LULU\">$（露露）$</a>.最近与Stripe的合作使该公司的商家可以轻松激活Afterpay作为结账选项。</blockquote></p><p> The company may process 10% to 30% of transactions for its retail partners once enabled as a payment option, Molnar said.</p><p><blockquote>Molnar表示，一旦启用支付选项，该公司可能会为其零售合作伙伴处理10%至30%的交易。</blockquote></p><p> Afterpay is building a presence beyond the checkout button, with 17% of purchases globally during the month of February originating from Shop Directory, meaning that these customers are locating merchants through Afterpay's app or site.</p><p><blockquote>Afterpay正在建立结账按钮之外的业务，2月份全球17%的购买来自商店目录，这意味着这些客户正在通过Afterpay的应用程序或网站找到商家。</blockquote></p><p> While Afterpay is relatively new in the U.S., its success in Australia \"puts into perspective where Afterpay can expand as a business,\" Molnar said. In Australia, 25% of volume comes from in-store purchases, and consumers can pay for things like dentist visits using the service.</p><p><blockquote>莫尔纳尔说，虽然Afterpay在美国相对较新，但它在澳大利亚的成功“让我们看到了Afterpay作为一项业务可以扩展的地方”。在澳大利亚，25%的销量来自店内购买，消费者可以使用该服务支付看牙医等费用。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/the-buy-now-pay-later-wave-klarna-affirm-and-rivals-hope-to-take-u-s-by-storm-11622225931?mod=home-page\">MarketWatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"V":"Visa","AFRM":"Affirm Holdings, Inc.","LULU":"lululemon athletica","TERN":"Terns Pharmaceuticals, Inc.","PYPL":"PayPal","CRCT":"Cricut, Inc.","APT.AU":"Afterpay Touch"},"source_url":"https://www.marketwatch.com/story/the-buy-now-pay-later-wave-klarna-affirm-and-rivals-hope-to-take-u-s-by-storm-11622225931?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2156816448","content_text":"A new form of online layway purchases has proved popular in Europe and found acceptance in the U.S. for products like Peloton equipment, and companies are going public with their eyes on spurring the payment option to faster domestic growth\nMARKETWATCH PHOTO ILLUSTRATION/ISTOCKPHOTO\nA new form of digital layaway has taken Europe by storm and found some acceptance in the U.S., and the growing handful of rivals in the space are looking to spur more online purchases that Americans pay for over time.\n\"Buy now, pay later\" options -- referred to in the payments industry as BNPL -- offer a twist on the concept of layaway, allowing consumers to split purchases into installments and charging them either simple interest or no interest at all, in a break from the traditional credit model that lets interest compound. Unlike with traditional layaway, consumers receive instant access to their purchase as they pay it off.\nFurniture companies have long let people pay for big-ticket items in installments while taking the product home right away, but now the concept has made its way online, spreading across industries and into smaller purchase amounts, JMP Securities analyst David Scharf noted. Those looking to build fancy home gyms during the pandemic could split the cost of an $1,800-plus Peloton Interactive Inc. $(PTON)$ bike into 39 interest-free monthly payments of $49 using financing from Affirm Holdings Inc. $(AFRM)$ A host of other players have been rushing to stake their claims elsewhere in the U.S. retail market.\nThe services are seeing surging adoption, driven by growing merchant acceptance, booming e-commerce sales, and what many providers say is a skepticism among younger shoppers about traditional credit offerings. Though BNPL services accounted for just 2% of U.S. e-commerce payments last year according to FIS Global, they're rapidly gaining in popularity. The value of purchases made using BNPL offerings rose 132% in the first quarter, per data from Cardify.ai.\nBNPL services are more prevalent overseas, accounting for more than 7% of European e-commerce transactions in 2020 and 10% of Australian ones, according to FIS Global. In Sweden, home to BNPL provider Klarna, installments accounted for 23% of e-commerce transactions last year.\nThe installment wave has drawn the interest of established giants like Visa Inc. (V) and PayPal Holdings Inc. (PYPL), as well as a host of newer fintech players that have carved out different paths as they seek to stake their claims in the nascent U.S. market.\nThe trend is of growing relevance to investors. U.S. startup Affirm recently went public, while Australia's Afterpay Ltd. , which trades in its home country, is contemplating a U.S. listing given the growing importance of the U.S. market to its business. Sweden's Klarna is considering an IPO in the U.K ., according to Bloomberg, though its chief executive has expressed some concerns about potential regulations.\nIn the credit-card model, merchants pay transaction fees when they accept card payments and consumers pay accrued interest if they carry a balance. BNPL services, which can sometimes be interest-free to the consumer, charge a steeper fee to merchants, who've been increasingly willing to pay up for the services so that consumers will be more inclined to go through with an online purchase.\nBNPL sits amid a number of attractive industry trends, according to Jefferies analyst John Hecht, who sees a $600 billion total transaction opportunity for the industry in the U.S., based on the value of e-commerce purchases made outside of Amazon.com Inc. $(AMZN)$ He expects that the services could take a bite out of what he views as an $840 billion dollar total addressable market for fintech-enabled credit products.\nWhile BNPL offerings are structured differently than traditional credit, they aren't without risk. The various BNPL companies have different policies about missed payments, but some will charge late fees or report to the credit bureaus about failures to make good on payment commitments. The industry is largely unregulated and there are concerns that consumers could end up taking on more installment commitments than they can afford to pay back in the allotted timeframes, especially in a credit crunch.\nThe companies have different approaches to the U.S. as they try to build or expand their BNPL businesses. MarketWatch spoke to executives at some of the leading offerings to find out their strategies for the market.\nAffirm\nWhile Peloton is Affirm's largest customer, the BNPL company has been expanding its merchant mix, which doubled from a year earlier in the latest quarter to reach almost 12,000 retailers.\nOne move to diversify the company's merchant base is a recent arrangement with Shopify Inc. (SHOP.T) that makes it easy for the e-commerce company's merchants to enable Affirm's installment offerings. In exchange, Shopify got equity interest in Affirm.\n\"Because of the nature of the relationship, they have every incentive in the world to make sure it's successful,\" Chief Financial Officer Michael Linford said. He expects that the deal \"will add substantially more value to us than we had to give up\" since Shopify's vast merchant base is \"really difficult if not impossible to build.\"\nAffirm offers a mix of simple-interest and interest-free installment options, and Linford said that the company is particularly differentiated in its work with high-value purchases as its tech and risk-management capabilities enable it to \"create a lot of value for merchants.\" Affirm's underwriting determines which customers would be capable of making their installment payments on big-ticket items.\nAt the same time, Affirm sees value in helping to facilitate ordinary spending as well, and it recently announced a debit card that will let people buy things and split them after the fact using their cards.\nThe company doesn't charge late fees for customers who miss payments, according to Linford. For customers who ultimately fail to make good on smaller-value payments, the company may lock down access to the Affirm network going forward. Those who don't pay up for bigger-ticket items could be reported to a credit bureau.\nAbout 30% of Affirm transactions originate from within the company's \"properties\"--mainly its mobile app--rather than from merchants' own sites. The app is \"really, really powerful for re-engagement\" of users, Linford said, and merchants can pay to show new products or offers on the platform.\nAs e-commerce booms, there's a \"quite aggressive fight to get any sort of mindshare,\" Linford said, and he argued that the platform holds appeal with brands looking to reach younger-generation consumers who have \"high intent and capacity to purchase.\"\nBecause the company enables shopping from within its app, its customers can split purchases even from merchants that don't list Affirm as payment options on their own websites. There's no Affirm button on Amazon's traditional website, for instance, but the e-commerce giant is one of the largest merchants within the Affirm app, Linford said. Affirm uses virtual cards to split customers' Amazon purchases on the back end.\nAfterpay\nAfter helping to kick off the BNPL trend in Australia, Afterpay came to the U.S. market less than three years ago with a focus on interest-free offerings.\nAfterpay is \"not trying to upsell someone credit,\" Co-Chief Executive Nick Molnar told MarketWatch, and the company has been \"purposefully focused on the couple-hundred-dollar purchase\" thus far.\nThe company charges a late fee after an initial grace period for consumers who fall behind on payments, and it cuts customers off from making future purchases until they pay back what they owe.\n\"Unlike a finance company that wants you to be late...with Afterpay you can't keep shopping\" after missing a payment, Molnar said. That dynamic fosters a better relationship with customers, in his view.\nAfterpay's North America merchant base grew more than 150% in the latest quarter relative to a year earlier. In the U.S., underlying sales, or the value of items purchased through its service, increased 211%.\nThe company now works with 23,000 retail brands in the U.S. including Bed Bath & Beyond Inc. $(BBBY)$ and Lululemon Athletica Inc. $(LULU)$. A recent partnership with Stripe made it easy for that company's merchants to easily activate Afterpay as a checkout option.\nThe company may process 10% to 30% of transactions for its retail partners once enabled as a payment option, Molnar said.\nAfterpay is building a presence beyond the checkout button, with 17% of purchases globally during the month of February originating from Shop Directory, meaning that these customers are locating merchants through Afterpay's app or site.\nWhile Afterpay is relatively new in the U.S., its success in Australia \"puts into perspective where Afterpay can expand as a business,\" Molnar said. In Australia, 25% of volume comes from in-store purchases, and consumers can pay for things like dentist visits using the service.","news_type":1,"symbols_score_info":{"AFRM":0.9,"CRCT":0.9,"TERN":0.9,"V":0.9,"APT.AU":0.9,"LULU":0.9,"PYPL":0.9}},"isVote":1,"tweetType":1,"viewCount":937,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":805295546,"gmtCreate":1627881576885,"gmtModify":1633755628328,"author":{"id":"4090936695088830","authorId":"4090936695088830","name":"jitkun","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4090936695088830","idStr":"4090936695088830"},"themes":[],"htmlText":"wow","listText":"wow","text":"wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/805295546","repostId":"2156816448","repostType":4,"repost":{"id":"2156816448","kind":"highlight","pubTimestamp":1627881172,"share":"https://www.laohu8.com/m/news/2156816448?lang=zh_CN&edition=full","pubTime":"2021-08-02 13:12","market":"us","language":"en","title":"The buy now, pay later wave: Afterpay, Klarna, Affirm and rivals hope to take U.S. by storm<blockquote>先买后付浪潮：Afterpay、Klarna、Affirm和竞争对手希望席卷美国</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=2156816448","media":"MarketWatch","summary":"A new form of online layway purchases has proved popular in Europe and found acceptance in the U.S. ","content":"<p>A new form of online layway purchases has proved popular in Europe and found acceptance in the U.S. for products like Peloton equipment, and companies are going public with their eyes on spurring the payment option to faster domestic growth</p><p><blockquote>事实证明，一种新的在线layway购买形式在欧洲很受欢迎，并在美国被Peloton设备等产品所接受，公司正在上市，着眼于刺激这种支付方式以加快国内增长</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/84930a25114bbd7d680d015b31af0be5\" tg-width=\"700\" tg-height=\"487\" width=\"100%\" height=\"auto\"><span>MARKETWATCH PHOTO ILLUSTRATION/ISTOCKPHOTO</span></p><p><blockquote><p class=\"t-img-caption\"><span>MARKETWATCH照片插图/ISTOCKPHOTO</span></p></blockquote></p><p> A new form of digital layaway has taken Europe by storm and found some acceptance in the U.S., and the growing handful of rivals in the space are looking to spur more online purchases that Americans pay for over time.</p><p><blockquote>一种新形式的数字分期付款席卷了欧洲，并在美国获得了一些认可，随着时间的推移，该领域越来越多的竞争对手希望刺激更多美国人付费的在线购物。</blockquote></p><p> \"Buy now, pay later\" options -- referred to in the payments industry as BNPL -- offer a twist on the concept of layaway, allowing consumers to split purchases into installments and charging them either simple interest or no interest at all, in a break from the traditional credit model that lets interest compound. Unlike with traditional layaway, consumers receive instant access to their purchase as they pay it off.</p><p><blockquote>“先买后付”选项——在支付行业被称为BNPL——对分期付款的概念进行了改变，允许消费者将购买分成分期付款，并向他们收取单利或根本不收取利息，打破了允许复利的传统信贷模式。与传统的分期付款不同，消费者在还清时可以立即获得购买的商品。</blockquote></p><p> Furniture companies have long let people pay for big-ticket items in installments while taking the product home right away, but now the concept has made its way online, spreading across industries and into smaller purchase amounts, JMP Securities analyst David Scharf noted. Those looking to build fancy home gyms during the pandemic could split the cost of an $1,800-plus Peloton Interactive Inc. <a href=\"https://laohu8.com/S/PTON\">$(PTON)$</a> bike into 39 interest-free monthly payments of $49 using financing from Affirm Holdings Inc. <a href=\"https://laohu8.com/S/AFRM\">$(AFRM)$</a> A host of other players have been rushing to stake their claims elsewhere in the U.S. retail market.</p><p><blockquote>JMP证券分析师大卫·沙夫(David Scharf)指出，家具公司长期以来一直允许人们分期付款购买大件商品，同时立即将产品带回家，但现在这一概念已经在网上传播，跨行业传播，购买金额较小。那些希望在疫情期间建造豪华家庭健身房的人可以分摊1,800多美元的Peloton Interactive Inc.的成本。<a href=\"https://laohu8.com/S/PTON\">$（PTON）$</a>使用Affirm Holdings Inc.的融资，每月支付39笔49美元的免息款项。<a href=\"https://laohu8.com/S/AFRM\">$(AFRM)$</a>许多其他参与者一直在争先恐后地在美国零售市场的其他地方占据一席之地。</blockquote></p><p> The services are seeing surging adoption, driven by growing merchant acceptance, booming e-commerce sales, and what many providers say is a skepticism among younger shoppers about traditional credit offerings. Though BNPL services accounted for just 2% of U.S. e-commerce payments last year according to FIS Global, they're rapidly gaining in popularity. The value of purchases made using BNPL offerings rose 132% in the first quarter, per data from Cardify.ai.</p><p><blockquote>在商家接受度不断提高、电子商务销售蓬勃发展以及许多提供商所说的年轻购物者对传统信贷产品的怀疑的推动下，这些服务的采用率激增。根据FIS Global的数据，尽管去年BNPL服务仅占美国电子商务支付的2%，但它们正在迅速流行。根据Cardify.ai的数据，第一季度使用BNPL产品进行的购买价值增长了132%。</blockquote></p><p> BNPL services are more prevalent overseas, accounting for more than 7% of European e-commerce transactions in 2020 and 10% of Australian ones, according to FIS Global. In Sweden, home to BNPL provider Klarna, installments accounted for 23% of e-commerce transactions last year.</p><p><blockquote>根据FIS Global的数据，BNPL服务在海外更为普遍，2020年占欧洲电子商务交易的7%以上，占澳大利亚电子商务交易的10%。在BNPL提供商Klarna的所在地瑞典，去年分期付款占电子商务交易的23%。</blockquote></p><p> The installment wave has drawn the interest of established giants like <a href=\"https://laohu8.com/S/V\">Visa</a> Inc. (V) and <a href=\"https://laohu8.com/S/PYPL\">PayPal</a> Holdings Inc. (PYPL), as well as a host of newer fintech players that have carved out different paths as they seek to stake their claims in the nascent U.S. market.</p><p><blockquote>分期浪潮吸引了老牌巨头的兴趣，如<a href=\"https://laohu8.com/S/V\">签证</a>公司(V)及<a href=\"https://laohu8.com/S/PYPL\">PayPal</a>控股公司（PYPL）以及许多新兴的金融科技公司在寻求在新兴的美国市场占据一席之地时开辟了不同的道路。</blockquote></p><p> The trend is of growing relevance to investors. U.S. startup Affirm recently went public, while Australia's Afterpay Ltd. , which trades in its home country, is contemplating a U.S. listing given the growing importance of the U.S. market to its business. Sweden's Klarna is considering an IPO in the U.K ., according to Bloomberg, though its chief executive has expressed some concerns about potential regulations.</p><p><blockquote>这一趋势与投资者的相关性越来越大。美国初创公司Affirm最近上市，而在本国开展业务的澳大利亚Afterpay Ltd.鉴于美国市场对其业务的重要性日益增加，正在考虑在美国上市。据彭博报道，瑞典Klarna正在考虑在英国首次公开募股，尽管其首席执行官对潜在的监管表示了一些担忧。</blockquote></p><p> In the credit-card model, merchants pay transaction fees when they accept card payments and consumers pay accrued interest if they carry a balance. BNPL services, which can sometimes be interest-free to the consumer, charge a steeper fee to merchants, who've been increasingly willing to pay up for the services so that consumers will be more inclined to go through with an online purchase.</p><p><blockquote>在信用卡模式中，商家在接受信用卡支付时支付交易费用，消费者如果有余额则支付应计利息。BNPL服务有时对消费者来说是免息的，但向商家收取更高的费用，而商家越来越愿意为服务付费，因此消费者将更倾向于进行在线购买。</blockquote></p><p> BNPL sits amid a number of attractive industry trends, according to Jefferies analyst John Hecht, who sees a $600 billion total transaction opportunity for the industry in the U.S., based on the value of e-commerce purchases made outside of Amazon.com Inc. <a href=\"https://laohu8.com/S/AMZN\">$(AMZN)$</a> He expects that the services could take a bite out of what he views as an $840 billion dollar total addressable market for fintech-enabled credit products.</p><p><blockquote>Jefferies分析师John Hecht表示，BNPL正处于许多有吸引力的行业趋势之中，根据亚马逊公司以外的电子商务采购价值，他认为美国该行业的交易机会总额为6000亿美元。<a href=\"https://laohu8.com/S/AMZN\">$(AMZN)$</a>他预计，这些服务可能会蚕食他认为金融科技支持的信贷产品总潜在市场8400亿美元。</blockquote></p><p> While BNPL offerings are structured differently than traditional credit, they aren't without risk. The various BNPL companies have different policies about missed payments, but some will charge late fees or report to the credit bureaus about failures to make good on payment commitments. The industry is largely unregulated and there are concerns that consumers could end up taking on more installment commitments than they can afford to pay back in the allotted timeframes, especially in a credit crunch.</p><p><blockquote>虽然BNPL产品的结构与传统信贷不同，但它们并非没有风险。不同的BNPL公司对逾期付款有不同的政策，但有些公司会收取滞纳金或向信用机构报告未能履行付款承诺的情况。该行业在很大程度上不受监管，人们担心消费者最终可能会承担比他们在规定时间内偿还的更多分期付款承诺，尤其是在信贷紧缩的情况下。</blockquote></p><p> The companies have different approaches to the U.S. as they try to build or expand their BNPL businesses. MarketWatch spoke to executives at some of the leading offerings to find out their strategies for the market.</p><p><blockquote>这些公司在试图建立或扩大其BNPL业务时对美国采取了不同的做法。MarketWatch采访了一些领先产品的高管，了解他们的市场策略。</blockquote></p><p> <b>Affirm</b></p><p><blockquote><b>申明</b></blockquote></p><p></p><p> While Peloton is Affirm's largest customer, the BNPL company has been expanding its merchant mix, which doubled from a year earlier in the latest quarter to reach almost 12,000 retailers.</p><p><blockquote>虽然Peloton是Affirm最大的客户，但这家BNPL公司一直在扩大其商户组合，最近一个季度的商户组合比去年同期增加了一倍，达到近12,000家零售商。</blockquote></p><p> One move to diversify the company's merchant base is a recent arrangement with <a href=\"https://laohu8.com/S/SHOP\">Shopify Inc</a>. (SHOP.T) that makes it easy for the e-commerce company's merchants to enable Affirm's installment offerings. In exchange, Shopify got equity interest in Affirm.</p><p><blockquote>公司商户基础多元化的一项举措是最近与<a href=\"https://laohu8.com/S/SHOP\">Shopify公司</a>.(SHOP.T)这使得该电子商务公司的商家可以轻松启用Affirm的分期付款产品。作为交换，Shopify获得了Affirm的股权。</blockquote></p><p> \"Because of the nature of the relationship, they have every incentive in the world to make sure it's successful,\" Chief Financial Officer Michael Linford said. He expects that the deal \"will add substantially more value to us than we had to give up\" since Shopify's vast merchant base is \"really difficult if not impossible to build.\"</p><p><blockquote>首席财务官迈克尔·林福德(Michael Linford)表示：“由于这种关系的性质，他们有世界上所有的动力来确保其成功。”他预计这笔交易“将为我们增加比我们不得不放弃的更多的价值”，因为Shopify庞大的商家基础“即使不是不可能建立，也确实很困难”。</blockquote></p><p> Affirm offers a mix of simple-interest and interest-free installment options, and Linford said that the company is particularly differentiated in its work with high-value purchases as its tech and risk-management capabilities enable it to \"create a lot of value for merchants.\" Affirm's underwriting determines which customers would be capable of making their installment payments on big-ticket items.</p><p><blockquote>Affirm提供单息和免息分期付款选项，林福德表示，该公司在高价值采购方面尤其与众不同，因为其技术和风险管理能力使其能够“为商家创造大量价值”。”Affirm的承保决定了哪些客户有能力对大件商品进行分期付款。</blockquote></p><p> At the same time, Affirm sees value in helping to facilitate ordinary spending as well, and it recently announced a debit card that will let people buy things and split them after the fact using their cards.</p><p><blockquote>与此同时，Affirm也看到了帮助促进普通支出的价值，它最近宣布了一种借记卡，可以让人们购买东西，并在事后使用他们的卡进行分割。</blockquote></p><p> The company doesn't charge late fees for customers who miss payments, according to Linford. For customers who ultimately fail to make good on smaller-value payments, the company may lock down access to the Affirm network going forward. Those who don't pay up for bigger-ticket items could be reported to a credit bureau.</p><p><blockquote>林福德表示，该公司不会对错过付款的客户收取滞纳金。对于最终无法兑现小额付款的客户，该公司可能会锁定对Affirm网络的访问。那些不支付大件商品费用的人可能会被举报给信用局。</blockquote></p><p> About 30% of Affirm transactions originate from within the company's \"properties\"--mainly its mobile app--rather than from merchants' own sites. The app is \"really, really powerful for re-engagement\" of users, Linford said, and merchants can pay to show new products or offers on the platform.</p><p><blockquote>大约30%的Affirm交易来自该公司的“资产”内部——主要是其移动应用程序——而不是来自商家自己的网站。林福德表示，该应用程序对于用户的重新参与“非常非常强大”，商家可以付费在平台上展示新产品或优惠。</blockquote></p><p> As e-commerce booms, there's a \"quite aggressive fight to get any sort of mindshare,\" Linford said, and he argued that the platform holds appeal with brands looking to reach younger-generation consumers who have \"high intent and capacity to purchase.\"</p><p><blockquote>林福德表示，随着电子商务的蓬勃发展，“为了获得任何形式的关注度而进行了相当激烈的斗争”，他认为该平台对那些希望吸引“有很高购买意愿和能力”的年轻一代消费者的品牌具有吸引力。”</blockquote></p><p> Because the company enables shopping from within its app, its customers can split purchases even from merchants that don't list Affirm as payment options on their own websites. There's no Affirm button on Amazon's traditional website, for instance, but the e-commerce giant is <a href=\"https://laohu8.com/S/AONE.U\">one</a> of the largest merchants within the Affirm app, Linford said. Affirm uses virtual cards to split customers' Amazon purchases on the back end.</p><p><blockquote>由于该公司支持在其应用程序内购物，因此其客户甚至可以从没有在自己的网站上将Affirm列为支付选项的商家那里分割购买。例如，亚马逊的传统网站上没有确认按钮，但这家电子商务巨头却有<a href=\"https://laohu8.com/S/AONE.U\">一</a>林福德说，Affirm应用程序中最大的商家。Affirm使用虚拟卡在后端分割客户的亚马逊购买。</blockquote></p><p> <b>Afterpay</b></p><p><blockquote><b>Afterpay</b></blockquote></p><p> After helping to kick off the BNPL trend in Australia, Afterpay came to the U.S. market less than three years ago with a focus on interest-free offerings.</p><p><blockquote>在帮助澳大利亚掀起BNPL趋势后，Afterpay不到三年前进入美国市场，专注于免息产品。</blockquote></p><p> Afterpay is \"not trying to upsell someone credit,\" Co-Chief Executive Nick Molnar told MarketWatch, and the company has been \"purposefully focused on the couple-hundred-dollar purchase\" thus far.</p><p><blockquote>Afterpay联席首席执行官尼克·莫尔纳尔(Nick Molnar)告诉MarketWatch，“并不试图向某人追加销售信用”，到目前为止，该公司一直“有目的地专注于数百美元的购买”。</blockquote></p><p> The company charges a late fee after an initial grace period for consumers who fall behind on payments, and it cuts customers off from making future purchases until they pay back what they owe.</p><p><blockquote>该公司在最初的宽限期后对拖欠付款的消费者收取滞纳金，并切断客户未来的购买权，直到他们偿还所欠款项。</blockquote></p><p> \"Unlike a finance company that wants you to be late...with Afterpay you can't keep shopping\" after missing a payment, Molnar said. That dynamic fosters a better relationship with customers, in his view.</p><p><blockquote>莫尔纳尔说，“与希望你迟到的金融公司不同……有了Afterpay，你在错过付款后就无法继续购物”。在他看来，这种动态培养了与客户更好的关系。</blockquote></p><p> Afterpay's North America merchant base grew more than 150% in the latest quarter relative to a year earlier. In the U.S., underlying sales, or the value of items purchased through its service, increased 211%.</p><p><blockquote>Afterpay的北美商户群在最近一个季度同比增长了150%以上。在美国，基础销售额或通过其服务购买的商品价值增长了211%。</blockquote></p><p> The company now works with 23,000 retail brands in the U.S. including Bed Bath &amp; Beyond Inc. <a href=\"https://laohu8.com/S/BBBY\">$(BBBY)$</a> and Lululemon Athletica Inc. <a href=\"https://laohu8.com/S/LULU\">$(LULU)$</a>. A recent partnership with Stripe made it easy for that company's merchants to easily activate Afterpay as a checkout option.</p><p><blockquote>该公司目前与美国23,000个零售品牌合作，其中包括Bed Bath&amp;Beyond Inc.。<a href=\"https://laohu8.com/S/BBBY\">$(BBBY)$</a>和Lululemon Athletica Inc.<a href=\"https://laohu8.com/S/LULU\">$（露露）$</a>.最近与Stripe的合作使该公司的商家可以轻松激活Afterpay作为结账选项。</blockquote></p><p> The company may process 10% to 30% of transactions for its retail partners once enabled as a payment option, Molnar said.</p><p><blockquote>Molnar表示，一旦启用支付选项，该公司可能会为其零售合作伙伴处理10%至30%的交易。</blockquote></p><p> Afterpay is building a presence beyond the checkout button, with 17% of purchases globally during the month of February originating from Shop Directory, meaning that these customers are locating merchants through Afterpay's app or site.</p><p><blockquote>Afterpay正在建立结账按钮之外的业务，2月份全球17%的购买来自商店目录，这意味着这些客户正在通过Afterpay的应用程序或网站找到商家。</blockquote></p><p> While Afterpay is relatively new in the U.S., its success in Australia \"puts into perspective where Afterpay can expand as a business,\" Molnar said. In Australia, 25% of volume comes from in-store purchases, and consumers can pay for things like dentist visits using the service.</p><p><blockquote>莫尔纳尔说，虽然Afterpay在美国相对较新，但它在澳大利亚的成功“让我们看到了Afterpay作为一项业务可以扩展的地方”。在澳大利亚，25%的销量来自店内购买，消费者可以使用该服务支付看牙医等费用。</blockquote></p><p></p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The buy now, pay later wave: Afterpay, Klarna, Affirm and rivals hope to take U.S. by storm<blockquote>先买后付浪潮：Afterpay、Klarna、Affirm和竞争对手希望席卷美国</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe buy now, pay later wave: Afterpay, Klarna, Affirm and rivals hope to take U.S. by storm<blockquote>先买后付浪潮：Afterpay、Klarna、Affirm和竞争对手希望席卷美国</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-08-02 13:12</span>\n</p>\n</h4>\n</header>\n<article>\n<p>A new form of online layway purchases has proved popular in Europe and found acceptance in the U.S. for products like Peloton equipment, and companies are going public with their eyes on spurring the payment option to faster domestic growth</p><p><blockquote>事实证明，一种新的在线layway购买形式在欧洲很受欢迎，并在美国被Peloton设备等产品所接受，公司正在上市，着眼于刺激这种支付方式以加快国内增长</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/84930a25114bbd7d680d015b31af0be5\" tg-width=\"700\" tg-height=\"487\" width=\"100%\" height=\"auto\"><span>MARKETWATCH PHOTO ILLUSTRATION/ISTOCKPHOTO</span></p><p><blockquote><p class=\"t-img-caption\"><span>MARKETWATCH照片插图/ISTOCKPHOTO</span></p></blockquote></p><p> A new form of digital layaway has taken Europe by storm and found some acceptance in the U.S., and the growing handful of rivals in the space are looking to spur more online purchases that Americans pay for over time.</p><p><blockquote>一种新形式的数字分期付款席卷了欧洲，并在美国获得了一些认可，随着时间的推移，该领域越来越多的竞争对手希望刺激更多美国人付费的在线购物。</blockquote></p><p> \"Buy now, pay later\" options -- referred to in the payments industry as BNPL -- offer a twist on the concept of layaway, allowing consumers to split purchases into installments and charging them either simple interest or no interest at all, in a break from the traditional credit model that lets interest compound. Unlike with traditional layaway, consumers receive instant access to their purchase as they pay it off.</p><p><blockquote>“先买后付”选项——在支付行业被称为BNPL——对分期付款的概念进行了改变，允许消费者将购买分成分期付款，并向他们收取单利或根本不收取利息，打破了允许复利的传统信贷模式。与传统的分期付款不同，消费者在还清时可以立即获得购买的商品。</blockquote></p><p> Furniture companies have long let people pay for big-ticket items in installments while taking the product home right away, but now the concept has made its way online, spreading across industries and into smaller purchase amounts, JMP Securities analyst David Scharf noted. Those looking to build fancy home gyms during the pandemic could split the cost of an $1,800-plus Peloton Interactive Inc. <a href=\"https://laohu8.com/S/PTON\">$(PTON)$</a> bike into 39 interest-free monthly payments of $49 using financing from Affirm Holdings Inc. <a href=\"https://laohu8.com/S/AFRM\">$(AFRM)$</a> A host of other players have been rushing to stake their claims elsewhere in the U.S. retail market.</p><p><blockquote>JMP证券分析师大卫·沙夫(David Scharf)指出，家具公司长期以来一直允许人们分期付款购买大件商品，同时立即将产品带回家，但现在这一概念已经在网上传播，跨行业传播，购买金额较小。那些希望在疫情期间建造豪华家庭健身房的人可以分摊1,800多美元的Peloton Interactive Inc.的成本。<a href=\"https://laohu8.com/S/PTON\">$（PTON）$</a>使用Affirm Holdings Inc.的融资，每月支付39笔49美元的免息款项。<a href=\"https://laohu8.com/S/AFRM\">$(AFRM)$</a>许多其他参与者一直在争先恐后地在美国零售市场的其他地方占据一席之地。</blockquote></p><p> The services are seeing surging adoption, driven by growing merchant acceptance, booming e-commerce sales, and what many providers say is a skepticism among younger shoppers about traditional credit offerings. Though BNPL services accounted for just 2% of U.S. e-commerce payments last year according to FIS Global, they're rapidly gaining in popularity. The value of purchases made using BNPL offerings rose 132% in the first quarter, per data from Cardify.ai.</p><p><blockquote>在商家接受度不断提高、电子商务销售蓬勃发展以及许多提供商所说的年轻购物者对传统信贷产品的怀疑的推动下，这些服务的采用率激增。根据FIS Global的数据，尽管去年BNPL服务仅占美国电子商务支付的2%，但它们正在迅速流行。根据Cardify.ai的数据，第一季度使用BNPL产品进行的购买价值增长了132%。</blockquote></p><p> BNPL services are more prevalent overseas, accounting for more than 7% of European e-commerce transactions in 2020 and 10% of Australian ones, according to FIS Global. In Sweden, home to BNPL provider Klarna, installments accounted for 23% of e-commerce transactions last year.</p><p><blockquote>根据FIS Global的数据，BNPL服务在海外更为普遍，2020年占欧洲电子商务交易的7%以上，占澳大利亚电子商务交易的10%。在BNPL提供商Klarna的所在地瑞典，去年分期付款占电子商务交易的23%。</blockquote></p><p> The installment wave has drawn the interest of established giants like <a href=\"https://laohu8.com/S/V\">Visa</a> Inc. (V) and <a href=\"https://laohu8.com/S/PYPL\">PayPal</a> Holdings Inc. (PYPL), as well as a host of newer fintech players that have carved out different paths as they seek to stake their claims in the nascent U.S. market.</p><p><blockquote>分期浪潮吸引了老牌巨头的兴趣，如<a href=\"https://laohu8.com/S/V\">签证</a>公司(V)及<a href=\"https://laohu8.com/S/PYPL\">PayPal</a>控股公司（PYPL）以及许多新兴的金融科技公司在寻求在新兴的美国市场占据一席之地时开辟了不同的道路。</blockquote></p><p> The trend is of growing relevance to investors. U.S. startup Affirm recently went public, while Australia's Afterpay Ltd. , which trades in its home country, is contemplating a U.S. listing given the growing importance of the U.S. market to its business. Sweden's Klarna is considering an IPO in the U.K ., according to Bloomberg, though its chief executive has expressed some concerns about potential regulations.</p><p><blockquote>这一趋势与投资者的相关性越来越大。美国初创公司Affirm最近上市，而在本国开展业务的澳大利亚Afterpay Ltd.鉴于美国市场对其业务的重要性日益增加，正在考虑在美国上市。据彭博报道，瑞典Klarna正在考虑在英国首次公开募股，尽管其首席执行官对潜在的监管表示了一些担忧。</blockquote></p><p> In the credit-card model, merchants pay transaction fees when they accept card payments and consumers pay accrued interest if they carry a balance. BNPL services, which can sometimes be interest-free to the consumer, charge a steeper fee to merchants, who've been increasingly willing to pay up for the services so that consumers will be more inclined to go through with an online purchase.</p><p><blockquote>在信用卡模式中，商家在接受信用卡支付时支付交易费用，消费者如果有余额则支付应计利息。BNPL服务有时对消费者来说是免息的，但向商家收取更高的费用，而商家越来越愿意为服务付费，因此消费者将更倾向于进行在线购买。</blockquote></p><p> BNPL sits amid a number of attractive industry trends, according to Jefferies analyst John Hecht, who sees a $600 billion total transaction opportunity for the industry in the U.S., based on the value of e-commerce purchases made outside of Amazon.com Inc. <a href=\"https://laohu8.com/S/AMZN\">$(AMZN)$</a> He expects that the services could take a bite out of what he views as an $840 billion dollar total addressable market for fintech-enabled credit products.</p><p><blockquote>Jefferies分析师John Hecht表示，BNPL正处于许多有吸引力的行业趋势之中，根据亚马逊公司以外的电子商务采购价值，他认为美国该行业的交易机会总额为6000亿美元。<a href=\"https://laohu8.com/S/AMZN\">$(AMZN)$</a>他预计，这些服务可能会蚕食他认为金融科技支持的信贷产品总潜在市场8400亿美元。</blockquote></p><p> While BNPL offerings are structured differently than traditional credit, they aren't without risk. The various BNPL companies have different policies about missed payments, but some will charge late fees or report to the credit bureaus about failures to make good on payment commitments. The industry is largely unregulated and there are concerns that consumers could end up taking on more installment commitments than they can afford to pay back in the allotted timeframes, especially in a credit crunch.</p><p><blockquote>虽然BNPL产品的结构与传统信贷不同，但它们并非没有风险。不同的BNPL公司对逾期付款有不同的政策，但有些公司会收取滞纳金或向信用机构报告未能履行付款承诺的情况。该行业在很大程度上不受监管，人们担心消费者最终可能会承担比他们在规定时间内偿还的更多分期付款承诺，尤其是在信贷紧缩的情况下。</blockquote></p><p> The companies have different approaches to the U.S. as they try to build or expand their BNPL businesses. MarketWatch spoke to executives at some of the leading offerings to find out their strategies for the market.</p><p><blockquote>这些公司在试图建立或扩大其BNPL业务时对美国采取了不同的做法。MarketWatch采访了一些领先产品的高管，了解他们的市场策略。</blockquote></p><p> <b>Affirm</b></p><p><blockquote><b>申明</b></blockquote></p><p></p><p> While Peloton is Affirm's largest customer, the BNPL company has been expanding its merchant mix, which doubled from a year earlier in the latest quarter to reach almost 12,000 retailers.</p><p><blockquote>虽然Peloton是Affirm最大的客户，但这家BNPL公司一直在扩大其商户组合，最近一个季度的商户组合比去年同期增加了一倍，达到近12,000家零售商。</blockquote></p><p> One move to diversify the company's merchant base is a recent arrangement with <a href=\"https://laohu8.com/S/SHOP\">Shopify Inc</a>. (SHOP.T) that makes it easy for the e-commerce company's merchants to enable Affirm's installment offerings. In exchange, Shopify got equity interest in Affirm.</p><p><blockquote>公司商户基础多元化的一项举措是最近与<a href=\"https://laohu8.com/S/SHOP\">Shopify公司</a>.(SHOP.T)这使得该电子商务公司的商家可以轻松启用Affirm的分期付款产品。作为交换，Shopify获得了Affirm的股权。</blockquote></p><p> \"Because of the nature of the relationship, they have every incentive in the world to make sure it's successful,\" Chief Financial Officer Michael Linford said. He expects that the deal \"will add substantially more value to us than we had to give up\" since Shopify's vast merchant base is \"really difficult if not impossible to build.\"</p><p><blockquote>首席财务官迈克尔·林福德(Michael Linford)表示：“由于这种关系的性质，他们有世界上所有的动力来确保其成功。”他预计这笔交易“将为我们增加比我们不得不放弃的更多的价值”，因为Shopify庞大的商家基础“即使不是不可能建立，也确实很困难”。</blockquote></p><p> Affirm offers a mix of simple-interest and interest-free installment options, and Linford said that the company is particularly differentiated in its work with high-value purchases as its tech and risk-management capabilities enable it to \"create a lot of value for merchants.\" Affirm's underwriting determines which customers would be capable of making their installment payments on big-ticket items.</p><p><blockquote>Affirm提供单息和免息分期付款选项，林福德表示，该公司在高价值采购方面尤其与众不同，因为其技术和风险管理能力使其能够“为商家创造大量价值”。”Affirm的承保决定了哪些客户有能力对大件商品进行分期付款。</blockquote></p><p> At the same time, Affirm sees value in helping to facilitate ordinary spending as well, and it recently announced a debit card that will let people buy things and split them after the fact using their cards.</p><p><blockquote>与此同时，Affirm也看到了帮助促进普通支出的价值，它最近宣布了一种借记卡，可以让人们购买东西，并在事后使用他们的卡进行分割。</blockquote></p><p> The company doesn't charge late fees for customers who miss payments, according to Linford. For customers who ultimately fail to make good on smaller-value payments, the company may lock down access to the Affirm network going forward. Those who don't pay up for bigger-ticket items could be reported to a credit bureau.</p><p><blockquote>林福德表示，该公司不会对错过付款的客户收取滞纳金。对于最终无法兑现小额付款的客户，该公司可能会锁定对Affirm网络的访问。那些不支付大件商品费用的人可能会被举报给信用局。</blockquote></p><p> About 30% of Affirm transactions originate from within the company's \"properties\"--mainly its mobile app--rather than from merchants' own sites. The app is \"really, really powerful for re-engagement\" of users, Linford said, and merchants can pay to show new products or offers on the platform.</p><p><blockquote>大约30%的Affirm交易来自该公司的“资产”内部——主要是其移动应用程序——而不是来自商家自己的网站。林福德表示，该应用程序对于用户的重新参与“非常非常强大”，商家可以付费在平台上展示新产品或优惠。</blockquote></p><p> As e-commerce booms, there's a \"quite aggressive fight to get any sort of mindshare,\" Linford said, and he argued that the platform holds appeal with brands looking to reach younger-generation consumers who have \"high intent and capacity to purchase.\"</p><p><blockquote>林福德表示，随着电子商务的蓬勃发展，“为了获得任何形式的关注度而进行了相当激烈的斗争”，他认为该平台对那些希望吸引“有很高购买意愿和能力”的年轻一代消费者的品牌具有吸引力。”</blockquote></p><p> Because the company enables shopping from within its app, its customers can split purchases even from merchants that don't list Affirm as payment options on their own websites. There's no Affirm button on Amazon's traditional website, for instance, but the e-commerce giant is <a href=\"https://laohu8.com/S/AONE.U\">one</a> of the largest merchants within the Affirm app, Linford said. Affirm uses virtual cards to split customers' Amazon purchases on the back end.</p><p><blockquote>由于该公司支持在其应用程序内购物，因此其客户甚至可以从没有在自己的网站上将Affirm列为支付选项的商家那里分割购买。例如，亚马逊的传统网站上没有确认按钮，但这家电子商务巨头却有<a href=\"https://laohu8.com/S/AONE.U\">一</a>林福德说，Affirm应用程序中最大的商家。Affirm使用虚拟卡在后端分割客户的亚马逊购买。</blockquote></p><p> <b>Afterpay</b></p><p><blockquote><b>Afterpay</b></blockquote></p><p> After helping to kick off the BNPL trend in Australia, Afterpay came to the U.S. market less than three years ago with a focus on interest-free offerings.</p><p><blockquote>在帮助澳大利亚掀起BNPL趋势后，Afterpay不到三年前进入美国市场，专注于免息产品。</blockquote></p><p> Afterpay is \"not trying to upsell someone credit,\" Co-Chief Executive Nick Molnar told MarketWatch, and the company has been \"purposefully focused on the couple-hundred-dollar purchase\" thus far.</p><p><blockquote>Afterpay联席首席执行官尼克·莫尔纳尔(Nick Molnar)告诉MarketWatch，“并不试图向某人追加销售信用”，到目前为止，该公司一直“有目的地专注于数百美元的购买”。</blockquote></p><p> The company charges a late fee after an initial grace period for consumers who fall behind on payments, and it cuts customers off from making future purchases until they pay back what they owe.</p><p><blockquote>该公司在最初的宽限期后对拖欠付款的消费者收取滞纳金，并切断客户未来的购买权，直到他们偿还所欠款项。</blockquote></p><p> \"Unlike a finance company that wants you to be late...with Afterpay you can't keep shopping\" after missing a payment, Molnar said. That dynamic fosters a better relationship with customers, in his view.</p><p><blockquote>莫尔纳尔说，“与希望你迟到的金融公司不同……有了Afterpay，你在错过付款后就无法继续购物”。在他看来，这种动态培养了与客户更好的关系。</blockquote></p><p> Afterpay's North America merchant base grew more than 150% in the latest quarter relative to a year earlier. In the U.S., underlying sales, or the value of items purchased through its service, increased 211%.</p><p><blockquote>Afterpay的北美商户群在最近一个季度同比增长了150%以上。在美国，基础销售额或通过其服务购买的商品价值增长了211%。</blockquote></p><p> The company now works with 23,000 retail brands in the U.S. including Bed Bath &amp; Beyond Inc. <a href=\"https://laohu8.com/S/BBBY\">$(BBBY)$</a> and Lululemon Athletica Inc. <a href=\"https://laohu8.com/S/LULU\">$(LULU)$</a>. A recent partnership with Stripe made it easy for that company's merchants to easily activate Afterpay as a checkout option.</p><p><blockquote>该公司目前与美国23,000个零售品牌合作，其中包括Bed Bath&amp;Beyond Inc.。<a href=\"https://laohu8.com/S/BBBY\">$(BBBY)$</a>和Lululemon Athletica Inc.<a href=\"https://laohu8.com/S/LULU\">$（露露）$</a>.最近与Stripe的合作使该公司的商家可以轻松激活Afterpay作为结账选项。</blockquote></p><p> The company may process 10% to 30% of transactions for its retail partners once enabled as a payment option, Molnar said.</p><p><blockquote>Molnar表示，一旦启用支付选项，该公司可能会为其零售合作伙伴处理10%至30%的交易。</blockquote></p><p> Afterpay is building a presence beyond the checkout button, with 17% of purchases globally during the month of February originating from Shop Directory, meaning that these customers are locating merchants through Afterpay's app or site.</p><p><blockquote>Afterpay正在建立结账按钮之外的业务，2月份全球17%的购买来自商店目录，这意味着这些客户正在通过Afterpay的应用程序或网站找到商家。</blockquote></p><p> While Afterpay is relatively new in the U.S., its success in Australia \"puts into perspective where Afterpay can expand as a business,\" Molnar said. In Australia, 25% of volume comes from in-store purchases, and consumers can pay for things like dentist visits using the service.</p><p><blockquote>莫尔纳尔说，虽然Afterpay在美国相对较新，但它在澳大利亚的成功“让我们看到了Afterpay作为一项业务可以扩展的地方”。在澳大利亚，25%的销量来自店内购买，消费者可以使用该服务支付看牙医等费用。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/the-buy-now-pay-later-wave-klarna-affirm-and-rivals-hope-to-take-u-s-by-storm-11622225931?mod=home-page\">MarketWatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"V":"Visa","AFRM":"Affirm Holdings, Inc.","LULU":"lululemon athletica","TERN":"Terns Pharmaceuticals, Inc.","PYPL":"PayPal","CRCT":"Cricut, Inc.","APT.AU":"Afterpay Touch"},"source_url":"https://www.marketwatch.com/story/the-buy-now-pay-later-wave-klarna-affirm-and-rivals-hope-to-take-u-s-by-storm-11622225931?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2156816448","content_text":"A new form of online layway purchases has proved popular in Europe and found acceptance in the U.S. for products like Peloton equipment, and companies are going public with their eyes on spurring the payment option to faster domestic growth\nMARKETWATCH PHOTO ILLUSTRATION/ISTOCKPHOTO\nA new form of digital layaway has taken Europe by storm and found some acceptance in the U.S., and the growing handful of rivals in the space are looking to spur more online purchases that Americans pay for over time.\n\"Buy now, pay later\" options -- referred to in the payments industry as BNPL -- offer a twist on the concept of layaway, allowing consumers to split purchases into installments and charging them either simple interest or no interest at all, in a break from the traditional credit model that lets interest compound. Unlike with traditional layaway, consumers receive instant access to their purchase as they pay it off.\nFurniture companies have long let people pay for big-ticket items in installments while taking the product home right away, but now the concept has made its way online, spreading across industries and into smaller purchase amounts, JMP Securities analyst David Scharf noted. Those looking to build fancy home gyms during the pandemic could split the cost of an $1,800-plus Peloton Interactive Inc. $(PTON)$ bike into 39 interest-free monthly payments of $49 using financing from Affirm Holdings Inc. $(AFRM)$ A host of other players have been rushing to stake their claims elsewhere in the U.S. retail market.\nThe services are seeing surging adoption, driven by growing merchant acceptance, booming e-commerce sales, and what many providers say is a skepticism among younger shoppers about traditional credit offerings. Though BNPL services accounted for just 2% of U.S. e-commerce payments last year according to FIS Global, they're rapidly gaining in popularity. The value of purchases made using BNPL offerings rose 132% in the first quarter, per data from Cardify.ai.\nBNPL services are more prevalent overseas, accounting for more than 7% of European e-commerce transactions in 2020 and 10% of Australian ones, according to FIS Global. In Sweden, home to BNPL provider Klarna, installments accounted for 23% of e-commerce transactions last year.\nThe installment wave has drawn the interest of established giants like Visa Inc. (V) and PayPal Holdings Inc. (PYPL), as well as a host of newer fintech players that have carved out different paths as they seek to stake their claims in the nascent U.S. market.\nThe trend is of growing relevance to investors. U.S. startup Affirm recently went public, while Australia's Afterpay Ltd. , which trades in its home country, is contemplating a U.S. listing given the growing importance of the U.S. market to its business. Sweden's Klarna is considering an IPO in the U.K ., according to Bloomberg, though its chief executive has expressed some concerns about potential regulations.\nIn the credit-card model, merchants pay transaction fees when they accept card payments and consumers pay accrued interest if they carry a balance. BNPL services, which can sometimes be interest-free to the consumer, charge a steeper fee to merchants, who've been increasingly willing to pay up for the services so that consumers will be more inclined to go through with an online purchase.\nBNPL sits amid a number of attractive industry trends, according to Jefferies analyst John Hecht, who sees a $600 billion total transaction opportunity for the industry in the U.S., based on the value of e-commerce purchases made outside of Amazon.com Inc. $(AMZN)$ He expects that the services could take a bite out of what he views as an $840 billion dollar total addressable market for fintech-enabled credit products.\nWhile BNPL offerings are structured differently than traditional credit, they aren't without risk. The various BNPL companies have different policies about missed payments, but some will charge late fees or report to the credit bureaus about failures to make good on payment commitments. The industry is largely unregulated and there are concerns that consumers could end up taking on more installment commitments than they can afford to pay back in the allotted timeframes, especially in a credit crunch.\nThe companies have different approaches to the U.S. as they try to build or expand their BNPL businesses. MarketWatch spoke to executives at some of the leading offerings to find out their strategies for the market.\nAffirm\nWhile Peloton is Affirm's largest customer, the BNPL company has been expanding its merchant mix, which doubled from a year earlier in the latest quarter to reach almost 12,000 retailers.\nOne move to diversify the company's merchant base is a recent arrangement with Shopify Inc. (SHOP.T) that makes it easy for the e-commerce company's merchants to enable Affirm's installment offerings. In exchange, Shopify got equity interest in Affirm.\n\"Because of the nature of the relationship, they have every incentive in the world to make sure it's successful,\" Chief Financial Officer Michael Linford said. He expects that the deal \"will add substantially more value to us than we had to give up\" since Shopify's vast merchant base is \"really difficult if not impossible to build.\"\nAffirm offers a mix of simple-interest and interest-free installment options, and Linford said that the company is particularly differentiated in its work with high-value purchases as its tech and risk-management capabilities enable it to \"create a lot of value for merchants.\" Affirm's underwriting determines which customers would be capable of making their installment payments on big-ticket items.\nAt the same time, Affirm sees value in helping to facilitate ordinary spending as well, and it recently announced a debit card that will let people buy things and split them after the fact using their cards.\nThe company doesn't charge late fees for customers who miss payments, according to Linford. For customers who ultimately fail to make good on smaller-value payments, the company may lock down access to the Affirm network going forward. Those who don't pay up for bigger-ticket items could be reported to a credit bureau.\nAbout 30% of Affirm transactions originate from within the company's \"properties\"--mainly its mobile app--rather than from merchants' own sites. The app is \"really, really powerful for re-engagement\" of users, Linford said, and merchants can pay to show new products or offers on the platform.\nAs e-commerce booms, there's a \"quite aggressive fight to get any sort of mindshare,\" Linford said, and he argued that the platform holds appeal with brands looking to reach younger-generation consumers who have \"high intent and capacity to purchase.\"\nBecause the company enables shopping from within its app, its customers can split purchases even from merchants that don't list Affirm as payment options on their own websites. There's no Affirm button on Amazon's traditional website, for instance, but the e-commerce giant is one of the largest merchants within the Affirm app, Linford said. Affirm uses virtual cards to split customers' Amazon purchases on the back end.\nAfterpay\nAfter helping to kick off the BNPL trend in Australia, Afterpay came to the U.S. market less than three years ago with a focus on interest-free offerings.\nAfterpay is \"not trying to upsell someone credit,\" Co-Chief Executive Nick Molnar told MarketWatch, and the company has been \"purposefully focused on the couple-hundred-dollar purchase\" thus far.\nThe company charges a late fee after an initial grace period for consumers who fall behind on payments, and it cuts customers off from making future purchases until they pay back what they owe.\n\"Unlike a finance company that wants you to be late...with Afterpay you can't keep shopping\" after missing a payment, Molnar said. That dynamic fosters a better relationship with customers, in his view.\nAfterpay's North America merchant base grew more than 150% in the latest quarter relative to a year earlier. In the U.S., underlying sales, or the value of items purchased through its service, increased 211%.\nThe company now works with 23,000 retail brands in the U.S. including Bed Bath & Beyond Inc. $(BBBY)$ and Lululemon Athletica Inc. $(LULU)$. A recent partnership with Stripe made it easy for that company's merchants to easily activate Afterpay as a checkout option.\nThe company may process 10% to 30% of transactions for its retail partners once enabled as a payment option, Molnar said.\nAfterpay is building a presence beyond the checkout button, with 17% of purchases globally during the month of February originating from Shop Directory, meaning that these customers are locating merchants through Afterpay's app or site.\nWhile Afterpay is relatively new in the U.S., its success in Australia \"puts into perspective where Afterpay can expand as a business,\" Molnar said. In Australia, 25% of volume comes from in-store purchases, and consumers can pay for things like dentist visits using the service.","news_type":1,"symbols_score_info":{"AFRM":0.9,"CRCT":0.9,"TERN":0.9,"V":0.9,"APT.AU":0.9,"LULU":0.9,"PYPL":0.9}},"isVote":1,"tweetType":1,"viewCount":2745,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":805295844,"gmtCreate":1627881558488,"gmtModify":1633755628576,"author":{"id":"4090936695088830","authorId":"4090936695088830","name":"jitkun","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4090936695088830","idStr":"4090936695088830"},"themes":[],"htmlText":"wow","listText":"wow","text":"wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/805295844","repostId":"1170689665","repostType":4,"repost":{"id":"1170689665","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1627857540,"share":"https://www.laohu8.com/m/news/1170689665?lang=zh_CN&edition=full","pubTime":"2021-08-02 06:39","market":"us","language":"en","title":"Alibaba,Uber, DraftKings, GM, Roku, EA, ViacomCBS, and Other Stocks for Investors to Watch This Week<blockquote>阿里巴巴-SW、Uber、DraftKings、通用汽车、Roku、EA、ViacomCBS等本周值得投资者关注的股票</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1170689665","media":"Tiger Newspress","summary":"The parade of second-quarter results continues this week. No fewer than 143 S&P 500 companies are on deck to report, in addition to hundreds of small caps. Ferrari, Vornado Realty Trust, Take-Two Interactive Software, and Simon Property Group will get the ball rolling on Monday. Then Lyft, Alibaba Group Holding, Nikola, Under Armour, Eli Lilly, and ConocoPhillips release their results on Tuesday.Wednesday will be particularly busy:General Motors,Uber Technologies,Etsy,Electronic Arts,Western Dig","content":"<p>The parade of second-quarter results continues this week. No fewer than 143 S&amp;P 500 companies are on deck to report, in addition to hundreds of small caps. Ferrari, Vornado Realty Trust, Take-Two Interactive Software, and Simon Property Group will get the ball rolling on Monday. Then Lyft, Alibaba Group Holding, Nikola, Under Armour, Eli Lilly, and ConocoPhillips release their results on Tuesday.</p><p><blockquote>第二季度业绩本周继续公布。除了数百家小盘股外，至少有143家标普500公司即将发布报告。法拉利、Vornado Realty Trust、Take-Two Interactive Software和Simon Property Group将于周一开始行动。随后，Lyft、阿里巴巴-SW集团控股、尼古拉、安德玛、礼来公司和康菲石油公司将于周二发布业绩。</blockquote></p><p> Wednesday will be particularly busy:General Motors,Uber Technologies,Etsy,Electronic Arts,Western Digital,Roku,CVS Health,Kraft Heinz, and SoftBank all report.Beyond Meat,Yelp,Wayfair, Moderna, and&nbsp;ViacomCBS&nbsp;go on Thursday and&nbsp;DraftKings,Canopy Growth,and Tripadvisor will close the week on Friday.Chinese Education Corporation&nbsp;New Oriental Education &amp; Technology Group Inc. and&nbsp;TAL Education Group&nbsp;cancels scheduled earnings release and earnings call.</p><p><blockquote>周三将特别繁忙：通用汽车、Uber Technologies、Etsy、艺电、西部数据、Roku、CVS Health、卡夫亨氏和软银都有报告。Beyond Meat、Yelp、Wayfair、Moderna和ViacomCBS将于周四上市，DraftKings、Canopy Growth和Tripadvisor将于周五结束本周。中国教育企业新东方教育科技集团有限公司和好未来教育集团取消原定的财报发布和财报看涨期权。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/94057bf11ca8d7311db6c075ba98727b\" tg-width=\"1706\" tg-height=\"740\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> The highlight on the&nbsp;economic&nbsp;calendar this week will be Jobs Friday. The Bureau of Labor Statistics is expected to show a gain of 625,000 nonfarm payrolls in July, following June’s 850,000. The unemployment rate is seen holding just below 6%.</p><p><blockquote>本周经济日历上的亮点将是周五的就业。美国劳工统计局预计7月份非农就业人数将增加625,000人，而6月份为850,000人。失业率预计将保持在6%以下。</blockquote></p><p> Other data out this week include the Institute for Supply Management’s Manufacturing Purchasing Managers’ Index for July on Monday, followed by the Services equivalent on Wednesday. Both measures of economic activity are forecast to come in at around 61, which would signify strong expansion.</p><p><blockquote>本周公布的其他数据包括供应管理协会周一公布的7月份制造业采购经理人指数，随后是周三公布的服务业采购经理人指数。这两项经济活动指标预计都在61左右，这意味着强劲的扩张。</blockquote></p><p> <b>Monday 8/2</b></p><p><blockquote><b>星期一8/2</b></blockquote></p><p> CNA Financial,Global Payments,JELD-WEN Holding,Loews,Arista Networks,Leggett &amp; Platt,Vornado Realty Trust, ZoomInfo Technologies, Woodward, Take-Two Interactive Software, Heineken, Trex, Ferrari,Ultra Clean Holdings,and Simon Property Group are expected to release financial results.</p><p><blockquote>CNA Financial、Global Payments、JELD-WEN Holding、Loews、Arista Networks、Leggett&amp;Platt、Vornado Realty Trust、ZoomInfo Technologies、Woodward、Take-Two Interactive Software、喜力、Trex、法拉利、Ultra Clean Holdings和Simon Property Group预计将发布财务业绩。</blockquote></p><p> GE stock&nbsp;will open for trading Monday at about $104 a share, after closing Friday at $12.95. The company completed its 1-for-8 reverse stock split Friday evening.</p><p><blockquote>通用电气股票周一开盘价约为每股104美元，周五收盘价为12.95美元。该公司周五晚上完成了8股1股的反向股票分割。</blockquote></p><p> <b>The Institute for Supply</b>&nbsp;Management releases its Manufacturing Purchasing Managers’ Index for July. Consensus estimate is for a 60.8 reading, up from 60.6 in June.</p><p><blockquote><b>供应研究所</b>管理层发布7月份制造业采购经理人指数。普遍预期为60.8，高于6月份的60.6。</blockquote></p><p> <b>The Census Bureau</b>&nbsp;reports construction spending for June. Expectations are for a 0.4% month-over-month rise, after a 0.3% decline in May.</p><p><blockquote><b>人口普查局</b>报告6月份建筑支出。继5月份下降0.3%后，预计环比增长0.4%。</blockquote></p><p> <b>Tuesday 8/3</b></p><p><blockquote><b>星期二8/3</b></blockquote></p><p> Eaton, BP, Under Armour, Lyft,Clorox,Amgen,Akamai Technologies,Cummins, Eli Lilly, Alibaba Group Holding, Nikola, EnPro Industries,Warner Music Group,Pitney Bowes,Tennant,Phillips 66,KKR,Gartner,Henry Schein,Dun &amp; Bradstreet Holdings,ConocoPhillips, and&nbsp;Jacobs Engineering Grouphost conference calls to discuss financial results.</p><p><blockquote>Eaton、BP、Under Armour、Lyft、Clorox、Amgen、Akamai Technologies、Cummins、Eli Lilly、阿里巴巴-SW集团控股、Nikola、EnPro Industries、Warner Music Group、Pitney Bowes、Tennant、Phillips 66、KKR、Gartner、Henry Schein、Dun&amp;Bradstreet Holdings、ConocoPhillips和Jacobs Engineering Group在评级召开会议讨论财务业绩。</blockquote></p><p> <b>The Census Bureau</b>&nbsp;is slated to report factory orders for June. Economists predict that orders increased 1.0% during the month, compared with a 1.7% rise in May.</p><p><blockquote><b>人口普查局</b>预计将报告6月份的工厂订单。经济学家预测当月订单增长1.0%，而5月份为增长1.7%。</blockquote></p><p> <b>Wednesday 8/4</b></p><p><blockquote><b>星期三8/4</b></blockquote></p><p> Sony Group,CVS Health, Kraft Heinz, SoftBank, General Motors, Progressive, Etsy, Electronic Arts, Western Digital, Uber Technologies, Roku,MGM Resorts International,Fox, and Re/Max Holdings are expected to host earnings calls.</p><p><blockquote>Sony Group、CVS Health、卡夫亨氏、软银、General Motors、Progressive、Etsy、Electronic Arts、Western Digital、Uber Technologies、Roku、MGM Resorts International、Fox和Re/Max Holdings预计将举行财报评级。</blockquote></p><p> <b>The Bureau of Economic</b>&nbsp;Analysis reports light-vehicle sales for July. Expectations call for a seasonally adjusted annual rate of 15.3 million vehicles, versus 15.4 million in June.</p><p><blockquote><b>经济局</b>分析报告7月份轻型汽车销量。预计看涨期权经季节调整后的年产量为1530万辆，而6月份为1540万辆。</blockquote></p><p> <b>The ISM releases</b>&nbsp;its Services PMI for July. Consensus estimate is for a 60.8 reading, compared with June’s 60.1.</p><p><blockquote><b>ISM发布</b>7月份服务业PMI。普遍预期为60.8，而6月份为60.1。</blockquote></p><p> <b>ADP releases</b>&nbsp;its National Employment report for July. Consensus estimate is for a 635,000 gain in nonfarm private-sector employment, following an increase of 692,000 in June.</p><p><blockquote><b>ADP释放</b>七月份全国就业报告。市场普遍估计非农私营部门就业人数将增加635,000人，6月份增加692,000人。</blockquote></p><p> <b>Thursday 8/5</b></p><p><blockquote><b>星期四8/5</b></blockquote></p><p> Zillow Group,Beyond Meat, Yelp, Wayfair, Kellogg,Bayer,HanesBrands, Moderna,Regeneron Pharmaceuticals,Switch,Cushman &amp; Wakefield,ViacomCBS,Cigna,Duke Energy,Square,News Corp,and&nbsp;Siemensare expected to report financial results.</p><p><blockquote>Zillow Group、Beyond Meat、Yelp、Wayfair、Kellogg、Bayer、HanesBrands、Moderna、Regeneron Pharmaceuticals、Switch、Cushman&amp;Wakefield、ViacomCBS、Cigna、Duke Energy、Square、新闻集团和西门子预计将公布财务业绩。</blockquote></p><p> Friday 8/6</p><p><blockquote>星期五8/6</blockquote></p><p> <b>The BLS releases the jobs report</b>&nbsp;for July. Economists forecast a 800,000 rise in nonfarm payrolls, after an 850,000 gain in June. The unemployment rate is expected to edge down to 5.8% from 5.9%.</p><p><blockquote><b>美国劳工统计局发布就业报告</b>为了七月。经济学家预测，继6月份非农就业人数增加85万人之后，非农就业人数将增加80万人。失业率预计将从5.9%小幅降至5.8%。</blockquote></p><p> DraftKings,Dominion Energy,Gannett,MGM Growth Properties,AMC Networks,Canopy Growth, Tripadvisor,Spectrum Brands Holdings,E.W. Scripps,Cinemark Holdings, and Manitowoc host conference calls to discuss financial results.</p><p><blockquote>DraftKings、Dominion Energy、Gannett、MGM Growth Properties、AMC Networks、Canopy Growth、猫途鹰、Spectrum Brands Holdings、E.WScripps、Cinemark Holdings和Manitowoc在评级主办会议讨论财务业绩。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Alibaba,Uber, DraftKings, GM, Roku, EA, ViacomCBS, and Other Stocks for Investors to Watch This Week<blockquote>阿里巴巴-SW、Uber、DraftKings、通用汽车、Roku、EA、ViacomCBS等本周值得投资者关注的股票</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAlibaba,Uber, DraftKings, GM, Roku, EA, ViacomCBS, and Other Stocks for Investors to Watch This Week<blockquote>阿里巴巴-SW、Uber、DraftKings、通用汽车、Roku、EA、ViacomCBS等本周值得投资者关注的股票</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-08-02 06:39</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>The parade of second-quarter results continues this week. No fewer than 143 S&amp;P 500 companies are on deck to report, in addition to hundreds of small caps. Ferrari, Vornado Realty Trust, Take-Two Interactive Software, and Simon Property Group will get the ball rolling on Monday. Then Lyft, Alibaba Group Holding, Nikola, Under Armour, Eli Lilly, and ConocoPhillips release their results on Tuesday.</p><p><blockquote>第二季度业绩本周继续公布。除了数百家小盘股外，至少有143家标普500公司即将发布报告。法拉利、Vornado Realty Trust、Take-Two Interactive Software和Simon Property Group将于周一开始行动。随后，Lyft、阿里巴巴-SW集团控股、尼古拉、安德玛、礼来公司和康菲石油公司将于周二发布业绩。</blockquote></p><p> Wednesday will be particularly busy:General Motors,Uber Technologies,Etsy,Electronic Arts,Western Digital,Roku,CVS Health,Kraft Heinz, and SoftBank all report.Beyond Meat,Yelp,Wayfair, Moderna, and&nbsp;ViacomCBS&nbsp;go on Thursday and&nbsp;DraftKings,Canopy Growth,and Tripadvisor will close the week on Friday.Chinese Education Corporation&nbsp;New Oriental Education &amp; Technology Group Inc. and&nbsp;TAL Education Group&nbsp;cancels scheduled earnings release and earnings call.</p><p><blockquote>周三将特别繁忙：通用汽车、Uber Technologies、Etsy、艺电、西部数据、Roku、CVS Health、卡夫亨氏和软银都有报告。Beyond Meat、Yelp、Wayfair、Moderna和ViacomCBS将于周四上市，DraftKings、Canopy Growth和Tripadvisor将于周五结束本周。中国教育企业新东方教育科技集团有限公司和好未来教育集团取消原定的财报发布和财报看涨期权。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/94057bf11ca8d7311db6c075ba98727b\" tg-width=\"1706\" tg-height=\"740\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> The highlight on the&nbsp;economic&nbsp;calendar this week will be Jobs Friday. The Bureau of Labor Statistics is expected to show a gain of 625,000 nonfarm payrolls in July, following June’s 850,000. The unemployment rate is seen holding just below 6%.</p><p><blockquote>本周经济日历上的亮点将是周五的就业。美国劳工统计局预计7月份非农就业人数将增加625,000人，而6月份为850,000人。失业率预计将保持在6%以下。</blockquote></p><p> Other data out this week include the Institute for Supply Management’s Manufacturing Purchasing Managers’ Index for July on Monday, followed by the Services equivalent on Wednesday. Both measures of economic activity are forecast to come in at around 61, which would signify strong expansion.</p><p><blockquote>本周公布的其他数据包括供应管理协会周一公布的7月份制造业采购经理人指数，随后是周三公布的服务业采购经理人指数。这两项经济活动指标预计都在61左右，这意味着强劲的扩张。</blockquote></p><p> <b>Monday 8/2</b></p><p><blockquote><b>星期一8/2</b></blockquote></p><p> CNA Financial,Global Payments,JELD-WEN Holding,Loews,Arista Networks,Leggett &amp; Platt,Vornado Realty Trust, ZoomInfo Technologies, Woodward, Take-Two Interactive Software, Heineken, Trex, Ferrari,Ultra Clean Holdings,and Simon Property Group are expected to release financial results.</p><p><blockquote>CNA Financial、Global Payments、JELD-WEN Holding、Loews、Arista Networks、Leggett&amp;Platt、Vornado Realty Trust、ZoomInfo Technologies、Woodward、Take-Two Interactive Software、喜力、Trex、法拉利、Ultra Clean Holdings和Simon Property Group预计将发布财务业绩。</blockquote></p><p> GE stock&nbsp;will open for trading Monday at about $104 a share, after closing Friday at $12.95. The company completed its 1-for-8 reverse stock split Friday evening.</p><p><blockquote>通用电气股票周一开盘价约为每股104美元，周五收盘价为12.95美元。该公司周五晚上完成了8股1股的反向股票分割。</blockquote></p><p> <b>The Institute for Supply</b>&nbsp;Management releases its Manufacturing Purchasing Managers’ Index for July. Consensus estimate is for a 60.8 reading, up from 60.6 in June.</p><p><blockquote><b>供应研究所</b>管理层发布7月份制造业采购经理人指数。普遍预期为60.8，高于6月份的60.6。</blockquote></p><p> <b>The Census Bureau</b>&nbsp;reports construction spending for June. Expectations are for a 0.4% month-over-month rise, after a 0.3% decline in May.</p><p><blockquote><b>人口普查局</b>报告6月份建筑支出。继5月份下降0.3%后，预计环比增长0.4%。</blockquote></p><p> <b>Tuesday 8/3</b></p><p><blockquote><b>星期二8/3</b></blockquote></p><p> Eaton, BP, Under Armour, Lyft,Clorox,Amgen,Akamai Technologies,Cummins, Eli Lilly, Alibaba Group Holding, Nikola, EnPro Industries,Warner Music Group,Pitney Bowes,Tennant,Phillips 66,KKR,Gartner,Henry Schein,Dun &amp; Bradstreet Holdings,ConocoPhillips, and&nbsp;Jacobs Engineering Grouphost conference calls to discuss financial results.</p><p><blockquote>Eaton、BP、Under Armour、Lyft、Clorox、Amgen、Akamai Technologies、Cummins、Eli Lilly、阿里巴巴-SW集团控股、Nikola、EnPro Industries、Warner Music Group、Pitney Bowes、Tennant、Phillips 66、KKR、Gartner、Henry Schein、Dun&amp;Bradstreet Holdings、ConocoPhillips和Jacobs Engineering Group在评级召开会议讨论财务业绩。</blockquote></p><p> <b>The Census Bureau</b>&nbsp;is slated to report factory orders for June. Economists predict that orders increased 1.0% during the month, compared with a 1.7% rise in May.</p><p><blockquote><b>人口普查局</b>预计将报告6月份的工厂订单。经济学家预测当月订单增长1.0%，而5月份为增长1.7%。</blockquote></p><p> <b>Wednesday 8/4</b></p><p><blockquote><b>星期三8/4</b></blockquote></p><p> Sony Group,CVS Health, Kraft Heinz, SoftBank, General Motors, Progressive, Etsy, Electronic Arts, Western Digital, Uber Technologies, Roku,MGM Resorts International,Fox, and Re/Max Holdings are expected to host earnings calls.</p><p><blockquote>Sony Group、CVS Health、卡夫亨氏、软银、General Motors、Progressive、Etsy、Electronic Arts、Western Digital、Uber Technologies、Roku、MGM Resorts International、Fox和Re/Max Holdings预计将举行财报评级。</blockquote></p><p> <b>The Bureau of Economic</b>&nbsp;Analysis reports light-vehicle sales for July. Expectations call for a seasonally adjusted annual rate of 15.3 million vehicles, versus 15.4 million in June.</p><p><blockquote><b>经济局</b>分析报告7月份轻型汽车销量。预计看涨期权经季节调整后的年产量为1530万辆，而6月份为1540万辆。</blockquote></p><p> <b>The ISM releases</b>&nbsp;its Services PMI for July. Consensus estimate is for a 60.8 reading, compared with June’s 60.1.</p><p><blockquote><b>ISM发布</b>7月份服务业PMI。普遍预期为60.8，而6月份为60.1。</blockquote></p><p> <b>ADP releases</b>&nbsp;its National Employment report for July. Consensus estimate is for a 635,000 gain in nonfarm private-sector employment, following an increase of 692,000 in June.</p><p><blockquote><b>ADP释放</b>七月份全国就业报告。市场普遍估计非农私营部门就业人数将增加635,000人，6月份增加692,000人。</blockquote></p><p> <b>Thursday 8/5</b></p><p><blockquote><b>星期四8/5</b></blockquote></p><p> Zillow Group,Beyond Meat, Yelp, Wayfair, Kellogg,Bayer,HanesBrands, Moderna,Regeneron Pharmaceuticals,Switch,Cushman &amp; Wakefield,ViacomCBS,Cigna,Duke Energy,Square,News Corp,and&nbsp;Siemensare expected to report financial results.</p><p><blockquote>Zillow Group、Beyond Meat、Yelp、Wayfair、Kellogg、Bayer、HanesBrands、Moderna、Regeneron Pharmaceuticals、Switch、Cushman&amp;Wakefield、ViacomCBS、Cigna、Duke Energy、Square、新闻集团和西门子预计将公布财务业绩。</blockquote></p><p> Friday 8/6</p><p><blockquote>星期五8/6</blockquote></p><p> <b>The BLS releases the jobs report</b>&nbsp;for July. Economists forecast a 800,000 rise in nonfarm payrolls, after an 850,000 gain in June. The unemployment rate is expected to edge down to 5.8% from 5.9%.</p><p><blockquote><b>美国劳工统计局发布就业报告</b>为了七月。经济学家预测，继6月份非农就业人数增加85万人之后，非农就业人数将增加80万人。失业率预计将从5.9%小幅降至5.8%。</blockquote></p><p> DraftKings,Dominion Energy,Gannett,MGM Growth Properties,AMC Networks,Canopy Growth, Tripadvisor,Spectrum Brands Holdings,E.W. Scripps,Cinemark Holdings, and Manitowoc host conference calls to discuss financial results.</p><p><blockquote>DraftKings、Dominion Energy、Gannett、MGM Growth Properties、AMC Networks、Canopy Growth、猫途鹰、Spectrum Brands Holdings、E.WScripps、Cinemark Holdings和Manitowoc在评级主办会议讨论财务业绩。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"ROKU":"Roku Inc","BABA":"阿里巴巴","GM":"通用汽车","DKNG":"DraftKings Inc.",".IXIC":"NASDAQ Composite",".DJI":"道琼斯","GE":"GE航空航天","EA":"艺电",".SPX":"S&P 500 Index","UBER":"优步"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1170689665","content_text":"The parade of second-quarter results continues this week. No fewer than 143 S&P 500 companies are on deck to report, in addition to hundreds of small caps. Ferrari, Vornado Realty Trust, Take-Two Interactive Software, and Simon Property Group will get the ball rolling on Monday. Then Lyft, Alibaba Group Holding, Nikola, Under Armour, Eli Lilly, and ConocoPhillips release their results on Tuesday.\nWednesday will be particularly busy:General Motors,Uber Technologies,Etsy,Electronic Arts,Western Digital,Roku,CVS Health,Kraft Heinz, and SoftBank all report.Beyond Meat,Yelp,Wayfair, Moderna, and ViacomCBS go on Thursday and DraftKings,Canopy Growth,and Tripadvisor will close the week on Friday.Chinese Education Corporation New Oriental Education & Technology Group Inc. and TAL Education Group cancels scheduled earnings release and earnings call.\n\nThe highlight on the economic calendar this week will be Jobs Friday. The Bureau of Labor Statistics is expected to show a gain of 625,000 nonfarm payrolls in July, following June’s 850,000. The unemployment rate is seen holding just below 6%.\nOther data out this week include the Institute for Supply Management’s Manufacturing Purchasing Managers’ Index for July on Monday, followed by the Services equivalent on Wednesday. Both measures of economic activity are forecast to come in at around 61, which would signify strong expansion.\nMonday 8/2\nCNA Financial,Global Payments,JELD-WEN Holding,Loews,Arista Networks,Leggett & Platt,Vornado Realty Trust, ZoomInfo Technologies, Woodward, Take-Two Interactive Software, Heineken, Trex, Ferrari,Ultra Clean Holdings,and Simon Property Group are expected to release financial results.\nGE stock will open for trading Monday at about $104 a share, after closing Friday at $12.95. The company completed its 1-for-8 reverse stock split Friday evening.\nThe Institute for Supply Management releases its Manufacturing Purchasing Managers’ Index for July. Consensus estimate is for a 60.8 reading, up from 60.6 in June.\nThe Census Bureau reports construction spending for June. Expectations are for a 0.4% month-over-month rise, after a 0.3% decline in May.\nTuesday 8/3\nEaton, BP, Under Armour, Lyft,Clorox,Amgen,Akamai Technologies,Cummins, Eli Lilly, Alibaba Group Holding, Nikola, EnPro Industries,Warner Music Group,Pitney Bowes,Tennant,Phillips 66,KKR,Gartner,Henry Schein,Dun & Bradstreet Holdings,ConocoPhillips, and Jacobs Engineering Grouphost conference calls to discuss financial results.\nThe Census Bureau is slated to report factory orders for June. Economists predict that orders increased 1.0% during the month, compared with a 1.7% rise in May.\nWednesday 8/4\nSony Group,CVS Health, Kraft Heinz, SoftBank, General Motors, Progressive, Etsy, Electronic Arts, Western Digital, Uber Technologies, Roku,MGM Resorts International,Fox, and Re/Max Holdings are expected to host earnings calls.\nThe Bureau of Economic Analysis reports light-vehicle sales for July. Expectations call for a seasonally adjusted annual rate of 15.3 million vehicles, versus 15.4 million in June.\nThe ISM releases its Services PMI for July. Consensus estimate is for a 60.8 reading, compared with June’s 60.1.\nADP releases its National Employment report for July. Consensus estimate is for a 635,000 gain in nonfarm private-sector employment, following an increase of 692,000 in June.\nThursday 8/5\nZillow Group,Beyond Meat, Yelp, Wayfair, Kellogg,Bayer,HanesBrands, Moderna,Regeneron Pharmaceuticals,Switch,Cushman & Wakefield,ViacomCBS,Cigna,Duke Energy,Square,News Corp,and Siemensare expected to report financial results.\nFriday 8/6\nThe BLS releases the jobs report for July. Economists forecast a 800,000 rise in nonfarm payrolls, after an 850,000 gain in June. The unemployment rate is expected to edge down to 5.8% from 5.9%.\nDraftKings,Dominion Energy,Gannett,MGM Growth Properties,AMC Networks,Canopy Growth, Tripadvisor,Spectrum Brands Holdings,E.W. Scripps,Cinemark Holdings, and Manitowoc host conference calls to discuss financial results.","news_type":1,"symbols_score_info":{"UBER":0.9,"ROKU":0.9,".IXIC":0.9,"BABA":0.9,"DKNG":0.9,"GM":0.9,".DJI":0.9,"GE":0.9,"EA":0.9,"VIAC":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":1614,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":805295844,"gmtCreate":1627881558488,"gmtModify":1633755628576,"author":{"id":"4090936695088830","authorId":"4090936695088830","name":"jitkun","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4090936695088830","idStr":"4090936695088830"},"themes":[],"htmlText":"wow","listText":"wow","text":"wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/805295844","repostId":"1170689665","repostType":4,"repost":{"id":"1170689665","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1627857540,"share":"https://www.laohu8.com/m/news/1170689665?lang=zh_CN&edition=full","pubTime":"2021-08-02 06:39","market":"us","language":"en","title":"Alibaba,Uber, DraftKings, GM, Roku, EA, ViacomCBS, and Other Stocks for Investors to Watch This Week<blockquote>阿里巴巴-SW、Uber、DraftKings、通用汽车、Roku、EA、ViacomCBS等本周值得投资者关注的股票</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1170689665","media":"Tiger Newspress","summary":"The parade of second-quarter results continues this week. No fewer than 143 S&P 500 companies are on deck to report, in addition to hundreds of small caps. Ferrari, Vornado Realty Trust, Take-Two Interactive Software, and Simon Property Group will get the ball rolling on Monday. Then Lyft, Alibaba Group Holding, Nikola, Under Armour, Eli Lilly, and ConocoPhillips release their results on Tuesday.Wednesday will be particularly busy:General Motors,Uber Technologies,Etsy,Electronic Arts,Western Dig","content":"<p>The parade of second-quarter results continues this week. No fewer than 143 S&amp;P 500 companies are on deck to report, in addition to hundreds of small caps. Ferrari, Vornado Realty Trust, Take-Two Interactive Software, and Simon Property Group will get the ball rolling on Monday. Then Lyft, Alibaba Group Holding, Nikola, Under Armour, Eli Lilly, and ConocoPhillips release their results on Tuesday.</p><p><blockquote>第二季度业绩本周继续公布。除了数百家小盘股外，至少有143家标普500公司即将发布报告。法拉利、Vornado Realty Trust、Take-Two Interactive Software和Simon Property Group将于周一开始行动。随后，Lyft、阿里巴巴-SW集团控股、尼古拉、安德玛、礼来公司和康菲石油公司将于周二发布业绩。</blockquote></p><p> Wednesday will be particularly busy:General Motors,Uber Technologies,Etsy,Electronic Arts,Western Digital,Roku,CVS Health,Kraft Heinz, and SoftBank all report.Beyond Meat,Yelp,Wayfair, Moderna, and&nbsp;ViacomCBS&nbsp;go on Thursday and&nbsp;DraftKings,Canopy Growth,and Tripadvisor will close the week on Friday.Chinese Education Corporation&nbsp;New Oriental Education &amp; Technology Group Inc. and&nbsp;TAL Education Group&nbsp;cancels scheduled earnings release and earnings call.</p><p><blockquote>周三将特别繁忙：通用汽车、Uber Technologies、Etsy、艺电、西部数据、Roku、CVS Health、卡夫亨氏和软银都有报告。Beyond Meat、Yelp、Wayfair、Moderna和ViacomCBS将于周四上市，DraftKings、Canopy Growth和Tripadvisor将于周五结束本周。中国教育企业新东方教育科技集团有限公司和好未来教育集团取消原定的财报发布和财报看涨期权。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/94057bf11ca8d7311db6c075ba98727b\" tg-width=\"1706\" tg-height=\"740\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> The highlight on the&nbsp;economic&nbsp;calendar this week will be Jobs Friday. The Bureau of Labor Statistics is expected to show a gain of 625,000 nonfarm payrolls in July, following June’s 850,000. The unemployment rate is seen holding just below 6%.</p><p><blockquote>本周经济日历上的亮点将是周五的就业。美国劳工统计局预计7月份非农就业人数将增加625,000人，而6月份为850,000人。失业率预计将保持在6%以下。</blockquote></p><p> Other data out this week include the Institute for Supply Management’s Manufacturing Purchasing Managers’ Index for July on Monday, followed by the Services equivalent on Wednesday. Both measures of economic activity are forecast to come in at around 61, which would signify strong expansion.</p><p><blockquote>本周公布的其他数据包括供应管理协会周一公布的7月份制造业采购经理人指数，随后是周三公布的服务业采购经理人指数。这两项经济活动指标预计都在61左右，这意味着强劲的扩张。</blockquote></p><p> <b>Monday 8/2</b></p><p><blockquote><b>星期一8/2</b></blockquote></p><p> CNA Financial,Global Payments,JELD-WEN Holding,Loews,Arista Networks,Leggett &amp; Platt,Vornado Realty Trust, ZoomInfo Technologies, Woodward, Take-Two Interactive Software, Heineken, Trex, Ferrari,Ultra Clean Holdings,and Simon Property Group are expected to release financial results.</p><p><blockquote>CNA Financial、Global Payments、JELD-WEN Holding、Loews、Arista Networks、Leggett&amp;Platt、Vornado Realty Trust、ZoomInfo Technologies、Woodward、Take-Two Interactive Software、喜力、Trex、法拉利、Ultra Clean Holdings和Simon Property Group预计将发布财务业绩。</blockquote></p><p> GE stock&nbsp;will open for trading Monday at about $104 a share, after closing Friday at $12.95. The company completed its 1-for-8 reverse stock split Friday evening.</p><p><blockquote>通用电气股票周一开盘价约为每股104美元，周五收盘价为12.95美元。该公司周五晚上完成了8股1股的反向股票分割。</blockquote></p><p> <b>The Institute for Supply</b>&nbsp;Management releases its Manufacturing Purchasing Managers’ Index for July. Consensus estimate is for a 60.8 reading, up from 60.6 in June.</p><p><blockquote><b>供应研究所</b>管理层发布7月份制造业采购经理人指数。普遍预期为60.8，高于6月份的60.6。</blockquote></p><p> <b>The Census Bureau</b>&nbsp;reports construction spending for June. Expectations are for a 0.4% month-over-month rise, after a 0.3% decline in May.</p><p><blockquote><b>人口普查局</b>报告6月份建筑支出。继5月份下降0.3%后，预计环比增长0.4%。</blockquote></p><p> <b>Tuesday 8/3</b></p><p><blockquote><b>星期二8/3</b></blockquote></p><p> Eaton, BP, Under Armour, Lyft,Clorox,Amgen,Akamai Technologies,Cummins, Eli Lilly, Alibaba Group Holding, Nikola, EnPro Industries,Warner Music Group,Pitney Bowes,Tennant,Phillips 66,KKR,Gartner,Henry Schein,Dun &amp; Bradstreet Holdings,ConocoPhillips, and&nbsp;Jacobs Engineering Grouphost conference calls to discuss financial results.</p><p><blockquote>Eaton、BP、Under Armour、Lyft、Clorox、Amgen、Akamai Technologies、Cummins、Eli Lilly、阿里巴巴-SW集团控股、Nikola、EnPro Industries、Warner Music Group、Pitney Bowes、Tennant、Phillips 66、KKR、Gartner、Henry Schein、Dun&amp;Bradstreet Holdings、ConocoPhillips和Jacobs Engineering Group在评级召开会议讨论财务业绩。</blockquote></p><p> <b>The Census Bureau</b>&nbsp;is slated to report factory orders for June. Economists predict that orders increased 1.0% during the month, compared with a 1.7% rise in May.</p><p><blockquote><b>人口普查局</b>预计将报告6月份的工厂订单。经济学家预测当月订单增长1.0%，而5月份为增长1.7%。</blockquote></p><p> <b>Wednesday 8/4</b></p><p><blockquote><b>星期三8/4</b></blockquote></p><p> Sony Group,CVS Health, Kraft Heinz, SoftBank, General Motors, Progressive, Etsy, Electronic Arts, Western Digital, Uber Technologies, Roku,MGM Resorts International,Fox, and Re/Max Holdings are expected to host earnings calls.</p><p><blockquote>Sony Group、CVS Health、卡夫亨氏、软银、General Motors、Progressive、Etsy、Electronic Arts、Western Digital、Uber Technologies、Roku、MGM Resorts International、Fox和Re/Max Holdings预计将举行财报评级。</blockquote></p><p> <b>The Bureau of Economic</b>&nbsp;Analysis reports light-vehicle sales for July. Expectations call for a seasonally adjusted annual rate of 15.3 million vehicles, versus 15.4 million in June.</p><p><blockquote><b>经济局</b>分析报告7月份轻型汽车销量。预计看涨期权经季节调整后的年产量为1530万辆，而6月份为1540万辆。</blockquote></p><p> <b>The ISM releases</b>&nbsp;its Services PMI for July. Consensus estimate is for a 60.8 reading, compared with June’s 60.1.</p><p><blockquote><b>ISM发布</b>7月份服务业PMI。普遍预期为60.8，而6月份为60.1。</blockquote></p><p> <b>ADP releases</b>&nbsp;its National Employment report for July. Consensus estimate is for a 635,000 gain in nonfarm private-sector employment, following an increase of 692,000 in June.</p><p><blockquote><b>ADP释放</b>七月份全国就业报告。市场普遍估计非农私营部门就业人数将增加635,000人，6月份增加692,000人。</blockquote></p><p> <b>Thursday 8/5</b></p><p><blockquote><b>星期四8/5</b></blockquote></p><p> Zillow Group,Beyond Meat, Yelp, Wayfair, Kellogg,Bayer,HanesBrands, Moderna,Regeneron Pharmaceuticals,Switch,Cushman &amp; Wakefield,ViacomCBS,Cigna,Duke Energy,Square,News Corp,and&nbsp;Siemensare expected to report financial results.</p><p><blockquote>Zillow Group、Beyond Meat、Yelp、Wayfair、Kellogg、Bayer、HanesBrands、Moderna、Regeneron Pharmaceuticals、Switch、Cushman&amp;Wakefield、ViacomCBS、Cigna、Duke Energy、Square、新闻集团和西门子预计将公布财务业绩。</blockquote></p><p> Friday 8/6</p><p><blockquote>星期五8/6</blockquote></p><p> <b>The BLS releases the jobs report</b>&nbsp;for July. Economists forecast a 800,000 rise in nonfarm payrolls, after an 850,000 gain in June. The unemployment rate is expected to edge down to 5.8% from 5.9%.</p><p><blockquote><b>美国劳工统计局发布就业报告</b>为了七月。经济学家预测，继6月份非农就业人数增加85万人之后，非农就业人数将增加80万人。失业率预计将从5.9%小幅降至5.8%。</blockquote></p><p> DraftKings,Dominion Energy,Gannett,MGM Growth Properties,AMC Networks,Canopy Growth, Tripadvisor,Spectrum Brands Holdings,E.W. Scripps,Cinemark Holdings, and Manitowoc host conference calls to discuss financial results.</p><p><blockquote>DraftKings、Dominion Energy、Gannett、MGM Growth Properties、AMC Networks、Canopy Growth、猫途鹰、Spectrum Brands Holdings、E.WScripps、Cinemark Holdings和Manitowoc在评级主办会议讨论财务业绩。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Alibaba,Uber, DraftKings, GM, Roku, EA, ViacomCBS, and Other Stocks for Investors to Watch This Week<blockquote>阿里巴巴-SW、Uber、DraftKings、通用汽车、Roku、EA、ViacomCBS等本周值得投资者关注的股票</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAlibaba,Uber, DraftKings, GM, Roku, EA, ViacomCBS, and Other Stocks for Investors to Watch This Week<blockquote>阿里巴巴-SW、Uber、DraftKings、通用汽车、Roku、EA、ViacomCBS等本周值得投资者关注的股票</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-08-02 06:39</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>The parade of second-quarter results continues this week. No fewer than 143 S&amp;P 500 companies are on deck to report, in addition to hundreds of small caps. Ferrari, Vornado Realty Trust, Take-Two Interactive Software, and Simon Property Group will get the ball rolling on Monday. Then Lyft, Alibaba Group Holding, Nikola, Under Armour, Eli Lilly, and ConocoPhillips release their results on Tuesday.</p><p><blockquote>第二季度业绩本周继续公布。除了数百家小盘股外，至少有143家标普500公司即将发布报告。法拉利、Vornado Realty Trust、Take-Two Interactive Software和Simon Property Group将于周一开始行动。随后，Lyft、阿里巴巴-SW集团控股、尼古拉、安德玛、礼来公司和康菲石油公司将于周二发布业绩。</blockquote></p><p> Wednesday will be particularly busy:General Motors,Uber Technologies,Etsy,Electronic Arts,Western Digital,Roku,CVS Health,Kraft Heinz, and SoftBank all report.Beyond Meat,Yelp,Wayfair, Moderna, and&nbsp;ViacomCBS&nbsp;go on Thursday and&nbsp;DraftKings,Canopy Growth,and Tripadvisor will close the week on Friday.Chinese Education Corporation&nbsp;New Oriental Education &amp; Technology Group Inc. and&nbsp;TAL Education Group&nbsp;cancels scheduled earnings release and earnings call.</p><p><blockquote>周三将特别繁忙：通用汽车、Uber Technologies、Etsy、艺电、西部数据、Roku、CVS Health、卡夫亨氏和软银都有报告。Beyond Meat、Yelp、Wayfair、Moderna和ViacomCBS将于周四上市，DraftKings、Canopy Growth和Tripadvisor将于周五结束本周。中国教育企业新东方教育科技集团有限公司和好未来教育集团取消原定的财报发布和财报看涨期权。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/94057bf11ca8d7311db6c075ba98727b\" tg-width=\"1706\" tg-height=\"740\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> The highlight on the&nbsp;economic&nbsp;calendar this week will be Jobs Friday. The Bureau of Labor Statistics is expected to show a gain of 625,000 nonfarm payrolls in July, following June’s 850,000. The unemployment rate is seen holding just below 6%.</p><p><blockquote>本周经济日历上的亮点将是周五的就业。美国劳工统计局预计7月份非农就业人数将增加625,000人，而6月份为850,000人。失业率预计将保持在6%以下。</blockquote></p><p> Other data out this week include the Institute for Supply Management’s Manufacturing Purchasing Managers’ Index for July on Monday, followed by the Services equivalent on Wednesday. Both measures of economic activity are forecast to come in at around 61, which would signify strong expansion.</p><p><blockquote>本周公布的其他数据包括供应管理协会周一公布的7月份制造业采购经理人指数，随后是周三公布的服务业采购经理人指数。这两项经济活动指标预计都在61左右，这意味着强劲的扩张。</blockquote></p><p> <b>Monday 8/2</b></p><p><blockquote><b>星期一8/2</b></blockquote></p><p> CNA Financial,Global Payments,JELD-WEN Holding,Loews,Arista Networks,Leggett &amp; Platt,Vornado Realty Trust, ZoomInfo Technologies, Woodward, Take-Two Interactive Software, Heineken, Trex, Ferrari,Ultra Clean Holdings,and Simon Property Group are expected to release financial results.</p><p><blockquote>CNA Financial、Global Payments、JELD-WEN Holding、Loews、Arista Networks、Leggett&amp;Platt、Vornado Realty Trust、ZoomInfo Technologies、Woodward、Take-Two Interactive Software、喜力、Trex、法拉利、Ultra Clean Holdings和Simon Property Group预计将发布财务业绩。</blockquote></p><p> GE stock&nbsp;will open for trading Monday at about $104 a share, after closing Friday at $12.95. The company completed its 1-for-8 reverse stock split Friday evening.</p><p><blockquote>通用电气股票周一开盘价约为每股104美元，周五收盘价为12.95美元。该公司周五晚上完成了8股1股的反向股票分割。</blockquote></p><p> <b>The Institute for Supply</b>&nbsp;Management releases its Manufacturing Purchasing Managers’ Index for July. Consensus estimate is for a 60.8 reading, up from 60.6 in June.</p><p><blockquote><b>供应研究所</b>管理层发布7月份制造业采购经理人指数。普遍预期为60.8，高于6月份的60.6。</blockquote></p><p> <b>The Census Bureau</b>&nbsp;reports construction spending for June. Expectations are for a 0.4% month-over-month rise, after a 0.3% decline in May.</p><p><blockquote><b>人口普查局</b>报告6月份建筑支出。继5月份下降0.3%后，预计环比增长0.4%。</blockquote></p><p> <b>Tuesday 8/3</b></p><p><blockquote><b>星期二8/3</b></blockquote></p><p> Eaton, BP, Under Armour, Lyft,Clorox,Amgen,Akamai Technologies,Cummins, Eli Lilly, Alibaba Group Holding, Nikola, EnPro Industries,Warner Music Group,Pitney Bowes,Tennant,Phillips 66,KKR,Gartner,Henry Schein,Dun &amp; Bradstreet Holdings,ConocoPhillips, and&nbsp;Jacobs Engineering Grouphost conference calls to discuss financial results.</p><p><blockquote>Eaton、BP、Under Armour、Lyft、Clorox、Amgen、Akamai Technologies、Cummins、Eli Lilly、阿里巴巴-SW集团控股、Nikola、EnPro Industries、Warner Music Group、Pitney Bowes、Tennant、Phillips 66、KKR、Gartner、Henry Schein、Dun&amp;Bradstreet Holdings、ConocoPhillips和Jacobs Engineering Group在评级召开会议讨论财务业绩。</blockquote></p><p> <b>The Census Bureau</b>&nbsp;is slated to report factory orders for June. Economists predict that orders increased 1.0% during the month, compared with a 1.7% rise in May.</p><p><blockquote><b>人口普查局</b>预计将报告6月份的工厂订单。经济学家预测当月订单增长1.0%，而5月份为增长1.7%。</blockquote></p><p> <b>Wednesday 8/4</b></p><p><blockquote><b>星期三8/4</b></blockquote></p><p> Sony Group,CVS Health, Kraft Heinz, SoftBank, General Motors, Progressive, Etsy, Electronic Arts, Western Digital, Uber Technologies, Roku,MGM Resorts International,Fox, and Re/Max Holdings are expected to host earnings calls.</p><p><blockquote>Sony Group、CVS Health、卡夫亨氏、软银、General Motors、Progressive、Etsy、Electronic Arts、Western Digital、Uber Technologies、Roku、MGM Resorts International、Fox和Re/Max Holdings预计将举行财报评级。</blockquote></p><p> <b>The Bureau of Economic</b>&nbsp;Analysis reports light-vehicle sales for July. Expectations call for a seasonally adjusted annual rate of 15.3 million vehicles, versus 15.4 million in June.</p><p><blockquote><b>经济局</b>分析报告7月份轻型汽车销量。预计看涨期权经季节调整后的年产量为1530万辆，而6月份为1540万辆。</blockquote></p><p> <b>The ISM releases</b>&nbsp;its Services PMI for July. Consensus estimate is for a 60.8 reading, compared with June’s 60.1.</p><p><blockquote><b>ISM发布</b>7月份服务业PMI。普遍预期为60.8，而6月份为60.1。</blockquote></p><p> <b>ADP releases</b>&nbsp;its National Employment report for July. Consensus estimate is for a 635,000 gain in nonfarm private-sector employment, following an increase of 692,000 in June.</p><p><blockquote><b>ADP释放</b>七月份全国就业报告。市场普遍估计非农私营部门就业人数将增加635,000人，6月份增加692,000人。</blockquote></p><p> <b>Thursday 8/5</b></p><p><blockquote><b>星期四8/5</b></blockquote></p><p> Zillow Group,Beyond Meat, Yelp, Wayfair, Kellogg,Bayer,HanesBrands, Moderna,Regeneron Pharmaceuticals,Switch,Cushman &amp; Wakefield,ViacomCBS,Cigna,Duke Energy,Square,News Corp,and&nbsp;Siemensare expected to report financial results.</p><p><blockquote>Zillow Group、Beyond Meat、Yelp、Wayfair、Kellogg、Bayer、HanesBrands、Moderna、Regeneron Pharmaceuticals、Switch、Cushman&amp;Wakefield、ViacomCBS、Cigna、Duke Energy、Square、新闻集团和西门子预计将公布财务业绩。</blockquote></p><p> Friday 8/6</p><p><blockquote>星期五8/6</blockquote></p><p> <b>The BLS releases the jobs report</b>&nbsp;for July. Economists forecast a 800,000 rise in nonfarm payrolls, after an 850,000 gain in June. The unemployment rate is expected to edge down to 5.8% from 5.9%.</p><p><blockquote><b>美国劳工统计局发布就业报告</b>为了七月。经济学家预测，继6月份非农就业人数增加85万人之后，非农就业人数将增加80万人。失业率预计将从5.9%小幅降至5.8%。</blockquote></p><p> DraftKings,Dominion Energy,Gannett,MGM Growth Properties,AMC Networks,Canopy Growth, Tripadvisor,Spectrum Brands Holdings,E.W. Scripps,Cinemark Holdings, and Manitowoc host conference calls to discuss financial results.</p><p><blockquote>DraftKings、Dominion Energy、Gannett、MGM Growth Properties、AMC Networks、Canopy Growth、猫途鹰、Spectrum Brands Holdings、E.WScripps、Cinemark Holdings和Manitowoc在评级主办会议讨论财务业绩。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"ROKU":"Roku Inc","BABA":"阿里巴巴","GM":"通用汽车","DKNG":"DraftKings Inc.",".IXIC":"NASDAQ Composite",".DJI":"道琼斯","GE":"GE航空航天","EA":"艺电",".SPX":"S&P 500 Index","UBER":"优步"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1170689665","content_text":"The parade of second-quarter results continues this week. No fewer than 143 S&P 500 companies are on deck to report, in addition to hundreds of small caps. Ferrari, Vornado Realty Trust, Take-Two Interactive Software, and Simon Property Group will get the ball rolling on Monday. Then Lyft, Alibaba Group Holding, Nikola, Under Armour, Eli Lilly, and ConocoPhillips release their results on Tuesday.\nWednesday will be particularly busy:General Motors,Uber Technologies,Etsy,Electronic Arts,Western Digital,Roku,CVS Health,Kraft Heinz, and SoftBank all report.Beyond Meat,Yelp,Wayfair, Moderna, and ViacomCBS go on Thursday and DraftKings,Canopy Growth,and Tripadvisor will close the week on Friday.Chinese Education Corporation New Oriental Education & Technology Group Inc. and TAL Education Group cancels scheduled earnings release and earnings call.\n\nThe highlight on the economic calendar this week will be Jobs Friday. The Bureau of Labor Statistics is expected to show a gain of 625,000 nonfarm payrolls in July, following June’s 850,000. The unemployment rate is seen holding just below 6%.\nOther data out this week include the Institute for Supply Management’s Manufacturing Purchasing Managers’ Index for July on Monday, followed by the Services equivalent on Wednesday. Both measures of economic activity are forecast to come in at around 61, which would signify strong expansion.\nMonday 8/2\nCNA Financial,Global Payments,JELD-WEN Holding,Loews,Arista Networks,Leggett & Platt,Vornado Realty Trust, ZoomInfo Technologies, Woodward, Take-Two Interactive Software, Heineken, Trex, Ferrari,Ultra Clean Holdings,and Simon Property Group are expected to release financial results.\nGE stock will open for trading Monday at about $104 a share, after closing Friday at $12.95. The company completed its 1-for-8 reverse stock split Friday evening.\nThe Institute for Supply Management releases its Manufacturing Purchasing Managers’ Index for July. Consensus estimate is for a 60.8 reading, up from 60.6 in June.\nThe Census Bureau reports construction spending for June. Expectations are for a 0.4% month-over-month rise, after a 0.3% decline in May.\nTuesday 8/3\nEaton, BP, Under Armour, Lyft,Clorox,Amgen,Akamai Technologies,Cummins, Eli Lilly, Alibaba Group Holding, Nikola, EnPro Industries,Warner Music Group,Pitney Bowes,Tennant,Phillips 66,KKR,Gartner,Henry Schein,Dun & Bradstreet Holdings,ConocoPhillips, and Jacobs Engineering Grouphost conference calls to discuss financial results.\nThe Census Bureau is slated to report factory orders for June. Economists predict that orders increased 1.0% during the month, compared with a 1.7% rise in May.\nWednesday 8/4\nSony Group,CVS Health, Kraft Heinz, SoftBank, General Motors, Progressive, Etsy, Electronic Arts, Western Digital, Uber Technologies, Roku,MGM Resorts International,Fox, and Re/Max Holdings are expected to host earnings calls.\nThe Bureau of Economic Analysis reports light-vehicle sales for July. Expectations call for a seasonally adjusted annual rate of 15.3 million vehicles, versus 15.4 million in June.\nThe ISM releases its Services PMI for July. Consensus estimate is for a 60.8 reading, compared with June’s 60.1.\nADP releases its National Employment report for July. Consensus estimate is for a 635,000 gain in nonfarm private-sector employment, following an increase of 692,000 in June.\nThursday 8/5\nZillow Group,Beyond Meat, Yelp, Wayfair, Kellogg,Bayer,HanesBrands, Moderna,Regeneron Pharmaceuticals,Switch,Cushman & Wakefield,ViacomCBS,Cigna,Duke Energy,Square,News Corp,and Siemensare expected to report financial results.\nFriday 8/6\nThe BLS releases the jobs report for July. Economists forecast a 800,000 rise in nonfarm payrolls, after an 850,000 gain in June. The unemployment rate is expected to edge down to 5.8% from 5.9%.\nDraftKings,Dominion Energy,Gannett,MGM Growth Properties,AMC Networks,Canopy Growth, Tripadvisor,Spectrum Brands Holdings,E.W. Scripps,Cinemark Holdings, and Manitowoc host conference calls to discuss financial results.","news_type":1,"symbols_score_info":{"UBER":0.9,"ROKU":0.9,".IXIC":0.9,"BABA":0.9,"DKNG":0.9,"GM":0.9,".DJI":0.9,"GE":0.9,"EA":0.9,"VIAC":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":1614,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":805294182,"gmtCreate":1627881641246,"gmtModify":1633755627982,"author":{"id":"4090936695088830","authorId":"4090936695088830","name":"jitkun","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4090936695088830","idStr":"4090936695088830"},"themes":[],"htmlText":"wow","listText":"wow","text":"wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/805294182","repostId":"1131303656","repostType":4,"repost":{"id":"1131303656","kind":"news","pubTimestamp":1627874331,"share":"https://www.laohu8.com/m/news/1131303656?lang=zh_CN&edition=full","pubTime":"2021-08-02 11:18","market":"us","language":"en","title":"Samsung Takes Intel’s Chip-Seller Crown, but Bigger Showdown Looms<blockquote>三星夺得英特尔芯片销售商桂冠，但更大的摊牌迫在眉睫</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1131303656","media":"The Wall Street Journal","summary":"Cash is paramount as both companies seek to fund aggressive expansions into high-tech production.Samsung overtook $Intel$ in the second quarter as the top chip maker by revenue and is expected to hold on to that distinction in the near future.Intel Corp. aspires tochip-technology supremacy within four years. But for now, it has fallen from the industry’s top spot by one key measure.In the second quarter, $Samsung Electronics Co., Ltd.$ overtook Intel as the world’s top chip maker by revenue. Giv","content":"<p><i><b>Cash is paramount as both companies seek to fund aggressive expansions into high-tech production.</b></i></p><p><blockquote><i><b>随着两家公司寻求为积极扩张高科技生产提供资金，现金至关重要。</b></i></blockquote></p><p> <i>Samsung overtook <a href=\"https://laohu8.com/S/INTC\">Intel</a> in the second quarter as the top chip maker by revenue and is expected to hold on to that distinction in the near future.</i></p><p><blockquote><i>三星反超<a href=\"https://laohu8.com/S/INTC\">英特尔</a>第二季度成为收入最高的芯片制造商，预计在不久的将来将保持这一地位。</i></blockquote></p><p> Intel&nbsp;Corp.&nbsp;aspires tochip-technology supremacy&nbsp;within four years. But for now, it has fallen from the industry’s top spot by one key measure.</p><p><blockquote>英特尔公司渴望在四年内占据芯片技术的主导地位。但就目前而言，它已经从行业第一的位置上跌落了一个关键指标。</blockquote></p><p> In the second quarter,&nbsp;<a href=\"https://laohu8.com/S/SSNNF\">Samsung Electronics Co., Ltd.</a> overtook Intel as the world’s top chip maker by revenue. Given divergent outlooks for their core businesses, the positioning is likely to stay that way in the near future, industry analysts say.</p><p><blockquote>二季度，<a href=\"https://laohu8.com/S/SSNNF\">三星电子有限公司。</a>超过英特尔成为全球收入最高的芯片制造商。行业分析师表示，鉴于其核心业务的前景不同，这种定位在不久的将来可能会保持这种状态。</blockquote></p><p> The South Korean tech company, which specializes in memory chips, racked up 22.74 trillion won, the equivalent of $19.7 billion,in semiconductor revenue&nbsp;during the April-June quarter.&nbsp;Total revenue for Intel, was $19.6 billion—or $18.5 billion after subtracting the contribution of a business unit it has agreed to sell.</p><p><blockquote>这家专注于存储芯片的韩国科技公司在4月至6月季度的半导体收入为22.74万亿韩元，相当于197亿美元。英特尔的总收入为196亿美元，减去其同意出售的一个业务部门的贡献后为185亿美元。</blockquote></p><p> Intel, based in Santa Clara, Calif., has held the No. 1 sales spot for much of the past three decades, ceding it to Samsung in 2017 and 2018 when memory-chip sales boomed.</p><p><blockquote>总部位于加州圣克拉拉的英特尔在过去三十年的大部分时间里一直保持着销量第一的位置，在2017年和2018年存储芯片销售蓬勃发展时将其让给了三星。</blockquote></p><p> The ranking is about more than bragging rights: Intel needs financial clout more than ever. Under new Chief Executive Pat Gelsinger, the company is embarking on an ambitious strategy to manufacture cutting-edge chips—one of the business world’s costliest endeavors.</p><p><blockquote>该排名不仅仅是吹牛的权利：英特尔比以往任何时候都更需要财务影响力。在新任首席执行官帕特·基辛格(Pat Gelsinger)的领导下，该公司正在实施一项雄心勃勃的战略来制造尖端芯片——这是商界成本最高的努力之一。</blockquote></p><p> <b>Chip Fight&nbsp;</b></p><p><blockquote><b>筹码大战</b></blockquote></p><p> A memory-market uptick helped Samsung'sshares outgain Intel's over the past year.</p><p><blockquote>内存市场的上涨帮助三星的股价在过去一年中超过了英特尔。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/8a4d0b49449e0776d721454dbe720e88\" tg-width=\"477\" tg-height=\"478\" width=\"100%\" height=\"auto\">Source: FactSet</p><p><blockquote>来源：FactSet</blockquote></p><p> Intel aspires to vault into a top-end foundry business, or the contract manufacturing of the most-advanced chips. In the race to miniaturize chip circuitry to the final nanometers, Intel joins a world populated by&nbsp;<a href=\"https://laohu8.com/S/TSM\">Taiwan Semiconductor Manufacturing</a> and Samsung, both of which have allocated more than $100 billion. More sales provide more cash for capital expenditures and to give to shareholders.</p><p><blockquote>英特尔渴望进军高端代工业务，即最先进芯片的合同制造业务。在将芯片电路小型化到最后纳米级的竞赛中，英特尔加入了一个由<a href=\"https://laohu8.com/S/TSM\">台积电</a>和三星，这两家公司的拨款都超过了1000亿美元。更多的销售为资本支出和股东提供了更多的现金。</blockquote></p><p> Though many firms, including&nbsp;<a href=\"https://laohu8.com/S/NVDA\">NVIDIA Corp</a> and&nbsp;<a href=\"https://laohu8.com/S/QCOM\">Qualcomm</a>,&nbsp;design superpowered chips, only TSMC and Samsung are able to manufacture them. Intel could join that list if its contract chip-making ambitions materialize.</p><p><blockquote>尽管许多公司，包括<a href=\"https://laohu8.com/S/NVDA\">英伟达公司</a>和<a href=\"https://laohu8.com/S/QCOM\">Qualcomm</a>，设计超能力芯片，只有台积电和三星能够制造。如果英特尔的合同芯片制造雄心得以实现，它可能会加入这一名单。</blockquote></p><p> With a&nbsp;global shortage of chips&nbsp;hobbling businesses world-wide, the U.S., Europe and other governments are offering tens of billions of dollars in incentives to spur the building of chip-making plants. But even so, such cutting-edge production requires advanced machines that cancost $150 million apiece, while a single facility can cost $20 billion.</p><p><blockquote>由于全球芯片短缺阻碍了全球企业的发展，美国、欧洲和其他国家政府正在提供数百亿美元的激励措施，以刺激芯片制造厂的建设。但即便如此，这种尖端生产需要先进的机器，每台机器的成本可能高达1.5亿美元，而单个设施的成本可能高达200亿美元。</blockquote></p><p> The next frontiers of chip making are so demanding that only TSMC, Samsung and Intel have the technological capability and deep pockets to proceed, said Dale Gai, a research director at Counterpoint Research. “I don’t see anyone in the No. 4 position,” he said.</p><p><blockquote>Counterpoint Research研究总监戴尔·盖(Dale Gai)表示，芯片制造的下一个前沿领域要求如此之高，以至于只有台积电、三星和英特尔拥有技术能力和雄厚的财力来继续进行。“我没有看到任何人处于第四名的位置，”他说。</blockquote></p><p> The three-company race will ultimately dictate where—and by whom—the advanced semiconductors essential for 5G cellular networks, self-driving cars and artificial intelligence are made. TSMC is currentlythe biggest foundry player, controlling 55% of the market, while Samsung represents 17%, according to first-quarter data from TrendForce, a market researcher.</p><p><blockquote>这场三家公司的竞赛将最终决定5G蜂窝网络、自动驾驶汽车和人工智能所必需的先进半导体的制造地点以及由谁制造。市场研究机构TrendForce第一季度的数据显示，台积电目前是最大的代工企业，控制着55%的市场份额，而三星则占17%。</blockquote></p><p> Samsung and Intel didn’t appear to be on a major collision course until Mr. Gelsinger rejoined Intel in January. He wants the company’s future to be making advanced chips not only for itself, but for others.</p><p><blockquote>直到基辛格一月份重新加入英特尔，三星和英特尔似乎才出现重大冲突。他希望公司的未来不仅为自己制造先进芯片，也为他人制造先进芯片。</blockquote></p><p> Mr. Gelsinger said in July that Intel already had more than 100 potential foundry customers lined up. They include Qualcomm, one of the biggest providers of chips for cellphones and a major Samsung customer. “We fully expect that this is going to be a great business for us,” he said on a call with analysts.</p><p><blockquote>Gelsinger先生在7月份表示，英特尔已经有100多个潜在代工客户在排队。其中包括高通，最大的手机芯片供应商之一，也是三星的主要客户。“我们完全预计这对我们来说将是一项伟大的业务，”他在与分析师的看涨期权中表示。</blockquote></p><p> Samsung said it is targeting 20% annual sales growth for its foundry business this year as demand increases, said Shawn Han, a senior vice president for the company’s foundry operations, in a Thursday earnings call. “We will maximize our capabilities to supply chips,” Mr. Han said.</p><p><blockquote>三星代工业务高级副总裁Shawn Han在周四的财报看涨期权上表示，随着需求的增加，三星今年的代工业务目标是年销售额增长20%。“我们将最大限度地提高芯片供应能力，”韩先生说。</blockquote></p><p> It is a robust time for the chip industry, writ large. Global semiconductor revenue is expected to grow 12.5% this year to $522 billion, according to International Data Corp., a market researcher. Global shortages have handed chip makers pricing power and abundant orders.</p><p><blockquote>对于芯片行业来说，这是一个强劲的时期。根据市场研究机构国际数据公司（International Data Corp.）的数据，今年全球半导体收入预计将增长12.5%，达到5220亿美元。全球短缺让芯片制造商获得了定价权和充足的订单。</blockquote></p><p> Going forward, Samsung and Intel will look to fund their foundry aspirations by leaning on cash-cow chip businesses that have done well during the pandemic.</p><p><blockquote>展望未来，三星和英特尔将依靠在疫情期间表现良好的摇钱树芯片业务来资助他们的代工愿望。</blockquote></p><p></p><p> Samsung’s rise to No. 1 in revenue reflects the overwhelming demand for memory chips—they typically cost just a few dollars apiece, compared with hundreds of dollars and often more for the central processing units that provide most of Intel’s income.</p><p><blockquote>三星在收入方面跃升至第一，反映了对存储芯片的巨大需求——它们通常每块成本仅为几美元，而为英特尔提供大部分收入的中央处理器的成本则高达数百美元，而且往往更高。</blockquote></p><p> For the full year, global memory sales are expected to rise 33%, while revenue from CPUs, which go in PCs and data servers, is expected to grow by 4%, according to market researcher Gartner Inc. While PC sales soared during the pandemic and are still rising, growth has slowed of late, according to IDC. And Intel is having to fend off rival CPU makers like&nbsp;Advanced Micro Devices&nbsp;Inc.,&nbsp;while some big clients forgo Intel-made chips for in-house alternatives.</p><p><blockquote>根据市场研究公司Gartner Inc.的数据，全年全球内存销售额预计将增长33%，而用于PC和数据服务器的CPU收入预计将增长4%。根据IDC的数据，虽然PC销售额在疫情期间飙升，但仍在增长，但最近增长放缓。英特尔不得不抵御像Advanced Micro Devices Inc.这样的竞争对手CPU制造商，而一些大客户放弃了英特尔制造的芯片，转而选择内部替代品。</blockquote></p><p> In March, Mr. Gelsinger unveiled his turnaround plan, along with more than $20 billion in investments in two plants in Arizona. He followed, in May, with a $3.5 billion expansion effort in New Mexico. Additional capacity growth, in the U.S. and abroad, is in the planning stages.</p><p><blockquote>今年3月，基辛格公布了他的扭亏为盈计划，以及对亚利桑那州两家工厂超过200亿美元的投资。随后，他在5月份斥资35亿美元在新墨西哥州进行了扩张。美国和国外的额外产能增长正处于规划阶段。</blockquote></p><p> In an interview after Intel’s second-quarter earnings announcement, Mr. Gelsinger expressed optimism about the company’s core business, citing appetite for new computers a&nbsp;<a href=\"https://laohu8.com/S/MSFT\">Microsoft</a>’s&nbsp;Windows 11 operating system hits the market later this year. “We see that strength continuing in the next year and beyond,” he said.</p><p><blockquote>在英特尔公布第二季度财报后的一次采访中，基辛格先生对公司的核心业务表示乐观，理由是对新电脑和<a href=\"https://laohu8.com/S/MSFT\">微软</a>的Windows 11操作系统将于今年晚些时候上市。“我们看到这种实力在明年及以后将持续下去，”他说。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Samsung Takes Intel’s Chip-Seller Crown, but Bigger Showdown Looms<blockquote>三星夺得英特尔芯片销售商桂冠，但更大的摊牌迫在眉睫</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSamsung Takes Intel’s Chip-Seller Crown, but Bigger Showdown Looms<blockquote>三星夺得英特尔芯片销售商桂冠，但更大的摊牌迫在眉睫</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">The Wall Street Journal</strong><span class=\"h-time small\">2021-08-02 11:18</span>\n</p>\n</h4>\n</header>\n<article>\n<p><i><b>Cash is paramount as both companies seek to fund aggressive expansions into high-tech production.</b></i></p><p><blockquote><i><b>随着两家公司寻求为积极扩张高科技生产提供资金，现金至关重要。</b></i></blockquote></p><p> <i>Samsung overtook <a href=\"https://laohu8.com/S/INTC\">Intel</a> in the second quarter as the top chip maker by revenue and is expected to hold on to that distinction in the near future.</i></p><p><blockquote><i>三星反超<a href=\"https://laohu8.com/S/INTC\">英特尔</a>第二季度成为收入最高的芯片制造商，预计在不久的将来将保持这一地位。</i></blockquote></p><p> Intel&nbsp;Corp.&nbsp;aspires tochip-technology supremacy&nbsp;within four years. But for now, it has fallen from the industry’s top spot by one key measure.</p><p><blockquote>英特尔公司渴望在四年内占据芯片技术的主导地位。但就目前而言，它已经从行业第一的位置上跌落了一个关键指标。</blockquote></p><p> In the second quarter,&nbsp;<a href=\"https://laohu8.com/S/SSNNF\">Samsung Electronics Co., Ltd.</a> overtook Intel as the world’s top chip maker by revenue. Given divergent outlooks for their core businesses, the positioning is likely to stay that way in the near future, industry analysts say.</p><p><blockquote>二季度，<a href=\"https://laohu8.com/S/SSNNF\">三星电子有限公司。</a>超过英特尔成为全球收入最高的芯片制造商。行业分析师表示，鉴于其核心业务的前景不同，这种定位在不久的将来可能会保持这种状态。</blockquote></p><p> The South Korean tech company, which specializes in memory chips, racked up 22.74 trillion won, the equivalent of $19.7 billion,in semiconductor revenue&nbsp;during the April-June quarter.&nbsp;Total revenue for Intel, was $19.6 billion—or $18.5 billion after subtracting the contribution of a business unit it has agreed to sell.</p><p><blockquote>这家专注于存储芯片的韩国科技公司在4月至6月季度的半导体收入为22.74万亿韩元，相当于197亿美元。英特尔的总收入为196亿美元，减去其同意出售的一个业务部门的贡献后为185亿美元。</blockquote></p><p> Intel, based in Santa Clara, Calif., has held the No. 1 sales spot for much of the past three decades, ceding it to Samsung in 2017 and 2018 when memory-chip sales boomed.</p><p><blockquote>总部位于加州圣克拉拉的英特尔在过去三十年的大部分时间里一直保持着销量第一的位置，在2017年和2018年存储芯片销售蓬勃发展时将其让给了三星。</blockquote></p><p> The ranking is about more than bragging rights: Intel needs financial clout more than ever. Under new Chief Executive Pat Gelsinger, the company is embarking on an ambitious strategy to manufacture cutting-edge chips—one of the business world’s costliest endeavors.</p><p><blockquote>该排名不仅仅是吹牛的权利：英特尔比以往任何时候都更需要财务影响力。在新任首席执行官帕特·基辛格(Pat Gelsinger)的领导下，该公司正在实施一项雄心勃勃的战略来制造尖端芯片——这是商界成本最高的努力之一。</blockquote></p><p> <b>Chip Fight&nbsp;</b></p><p><blockquote><b>筹码大战</b></blockquote></p><p> A memory-market uptick helped Samsung'sshares outgain Intel's over the past year.</p><p><blockquote>内存市场的上涨帮助三星的股价在过去一年中超过了英特尔。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/8a4d0b49449e0776d721454dbe720e88\" tg-width=\"477\" tg-height=\"478\" width=\"100%\" height=\"auto\">Source: FactSet</p><p><blockquote>来源：FactSet</blockquote></p><p> Intel aspires to vault into a top-end foundry business, or the contract manufacturing of the most-advanced chips. In the race to miniaturize chip circuitry to the final nanometers, Intel joins a world populated by&nbsp;<a href=\"https://laohu8.com/S/TSM\">Taiwan Semiconductor Manufacturing</a> and Samsung, both of which have allocated more than $100 billion. More sales provide more cash for capital expenditures and to give to shareholders.</p><p><blockquote>英特尔渴望进军高端代工业务，即最先进芯片的合同制造业务。在将芯片电路小型化到最后纳米级的竞赛中，英特尔加入了一个由<a href=\"https://laohu8.com/S/TSM\">台积电</a>和三星，这两家公司的拨款都超过了1000亿美元。更多的销售为资本支出和股东提供了更多的现金。</blockquote></p><p> Though many firms, including&nbsp;<a href=\"https://laohu8.com/S/NVDA\">NVIDIA Corp</a> and&nbsp;<a href=\"https://laohu8.com/S/QCOM\">Qualcomm</a>,&nbsp;design superpowered chips, only TSMC and Samsung are able to manufacture them. Intel could join that list if its contract chip-making ambitions materialize.</p><p><blockquote>尽管许多公司，包括<a href=\"https://laohu8.com/S/NVDA\">英伟达公司</a>和<a href=\"https://laohu8.com/S/QCOM\">Qualcomm</a>，设计超能力芯片，只有台积电和三星能够制造。如果英特尔的合同芯片制造雄心得以实现，它可能会加入这一名单。</blockquote></p><p> With a&nbsp;global shortage of chips&nbsp;hobbling businesses world-wide, the U.S., Europe and other governments are offering tens of billions of dollars in incentives to spur the building of chip-making plants. But even so, such cutting-edge production requires advanced machines that cancost $150 million apiece, while a single facility can cost $20 billion.</p><p><blockquote>由于全球芯片短缺阻碍了全球企业的发展，美国、欧洲和其他国家政府正在提供数百亿美元的激励措施，以刺激芯片制造厂的建设。但即便如此，这种尖端生产需要先进的机器，每台机器的成本可能高达1.5亿美元，而单个设施的成本可能高达200亿美元。</blockquote></p><p> The next frontiers of chip making are so demanding that only TSMC, Samsung and Intel have the technological capability and deep pockets to proceed, said Dale Gai, a research director at Counterpoint Research. “I don’t see anyone in the No. 4 position,” he said.</p><p><blockquote>Counterpoint Research研究总监戴尔·盖(Dale Gai)表示，芯片制造的下一个前沿领域要求如此之高，以至于只有台积电、三星和英特尔拥有技术能力和雄厚的财力来继续进行。“我没有看到任何人处于第四名的位置，”他说。</blockquote></p><p> The three-company race will ultimately dictate where—and by whom—the advanced semiconductors essential for 5G cellular networks, self-driving cars and artificial intelligence are made. TSMC is currentlythe biggest foundry player, controlling 55% of the market, while Samsung represents 17%, according to first-quarter data from TrendForce, a market researcher.</p><p><blockquote>这场三家公司的竞赛将最终决定5G蜂窝网络、自动驾驶汽车和人工智能所必需的先进半导体的制造地点以及由谁制造。市场研究机构TrendForce第一季度的数据显示，台积电目前是最大的代工企业，控制着55%的市场份额，而三星则占17%。</blockquote></p><p> Samsung and Intel didn’t appear to be on a major collision course until Mr. Gelsinger rejoined Intel in January. He wants the company’s future to be making advanced chips not only for itself, but for others.</p><p><blockquote>直到基辛格一月份重新加入英特尔，三星和英特尔似乎才出现重大冲突。他希望公司的未来不仅为自己制造先进芯片，也为他人制造先进芯片。</blockquote></p><p> Mr. Gelsinger said in July that Intel already had more than 100 potential foundry customers lined up. They include Qualcomm, one of the biggest providers of chips for cellphones and a major Samsung customer. “We fully expect that this is going to be a great business for us,” he said on a call with analysts.</p><p><blockquote>Gelsinger先生在7月份表示，英特尔已经有100多个潜在代工客户在排队。其中包括高通，最大的手机芯片供应商之一，也是三星的主要客户。“我们完全预计这对我们来说将是一项伟大的业务，”他在与分析师的看涨期权中表示。</blockquote></p><p> Samsung said it is targeting 20% annual sales growth for its foundry business this year as demand increases, said Shawn Han, a senior vice president for the company’s foundry operations, in a Thursday earnings call. “We will maximize our capabilities to supply chips,” Mr. Han said.</p><p><blockquote>三星代工业务高级副总裁Shawn Han在周四的财报看涨期权上表示，随着需求的增加，三星今年的代工业务目标是年销售额增长20%。“我们将最大限度地提高芯片供应能力，”韩先生说。</blockquote></p><p> It is a robust time for the chip industry, writ large. Global semiconductor revenue is expected to grow 12.5% this year to $522 billion, according to International Data Corp., a market researcher. Global shortages have handed chip makers pricing power and abundant orders.</p><p><blockquote>对于芯片行业来说，这是一个强劲的时期。根据市场研究机构国际数据公司（International Data Corp.）的数据，今年全球半导体收入预计将增长12.5%，达到5220亿美元。全球短缺让芯片制造商获得了定价权和充足的订单。</blockquote></p><p> Going forward, Samsung and Intel will look to fund their foundry aspirations by leaning on cash-cow chip businesses that have done well during the pandemic.</p><p><blockquote>展望未来，三星和英特尔将依靠在疫情期间表现良好的摇钱树芯片业务来资助他们的代工愿望。</blockquote></p><p></p><p> Samsung’s rise to No. 1 in revenue reflects the overwhelming demand for memory chips—they typically cost just a few dollars apiece, compared with hundreds of dollars and often more for the central processing units that provide most of Intel’s income.</p><p><blockquote>三星在收入方面跃升至第一，反映了对存储芯片的巨大需求——它们通常每块成本仅为几美元，而为英特尔提供大部分收入的中央处理器的成本则高达数百美元，而且往往更高。</blockquote></p><p> For the full year, global memory sales are expected to rise 33%, while revenue from CPUs, which go in PCs and data servers, is expected to grow by 4%, according to market researcher Gartner Inc. While PC sales soared during the pandemic and are still rising, growth has slowed of late, according to IDC. And Intel is having to fend off rival CPU makers like&nbsp;Advanced Micro Devices&nbsp;Inc.,&nbsp;while some big clients forgo Intel-made chips for in-house alternatives.</p><p><blockquote>根据市场研究公司Gartner Inc.的数据，全年全球内存销售额预计将增长33%，而用于PC和数据服务器的CPU收入预计将增长4%。根据IDC的数据，虽然PC销售额在疫情期间飙升，但仍在增长，但最近增长放缓。英特尔不得不抵御像Advanced Micro Devices Inc.这样的竞争对手CPU制造商，而一些大客户放弃了英特尔制造的芯片，转而选择内部替代品。</blockquote></p><p> In March, Mr. Gelsinger unveiled his turnaround plan, along with more than $20 billion in investments in two plants in Arizona. He followed, in May, with a $3.5 billion expansion effort in New Mexico. Additional capacity growth, in the U.S. and abroad, is in the planning stages.</p><p><blockquote>今年3月，基辛格公布了他的扭亏为盈计划，以及对亚利桑那州两家工厂超过200亿美元的投资。随后，他在5月份斥资35亿美元在新墨西哥州进行了扩张。美国和国外的额外产能增长正处于规划阶段。</blockquote></p><p> In an interview after Intel’s second-quarter earnings announcement, Mr. Gelsinger expressed optimism about the company’s core business, citing appetite for new computers a&nbsp;<a href=\"https://laohu8.com/S/MSFT\">Microsoft</a>’s&nbsp;Windows 11 operating system hits the market later this year. “We see that strength continuing in the next year and beyond,” he said.</p><p><blockquote>在英特尔公布第二季度财报后的一次采访中，基辛格先生对公司的核心业务表示乐观，理由是对新电脑和<a href=\"https://laohu8.com/S/MSFT\">微软</a>的Windows 11操作系统将于今年晚些时候上市。“我们看到这种实力在明年及以后将持续下去，”他说。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.wsj.com/articles/samsung-takes-intels-chip-seller-crown-but-bigger-showdown-looms-11627812000?mod=hp_lista_pos5\">The Wall Street Journal</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"INTC":"英特尔","TSM":"台积电"},"source_url":"https://www.wsj.com/articles/samsung-takes-intels-chip-seller-crown-but-bigger-showdown-looms-11627812000?mod=hp_lista_pos5","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1131303656","content_text":"Cash is paramount as both companies seek to fund aggressive expansions into high-tech production.\nSamsung overtook Intel in the second quarter as the top chip maker by revenue and is expected to hold on to that distinction in the near future.\nIntel Corp. aspires tochip-technology supremacy within four years. But for now, it has fallen from the industry’s top spot by one key measure.\nIn the second quarter, Samsung Electronics Co., Ltd. overtook Intel as the world’s top chip maker by revenue. Given divergent outlooks for their core businesses, the positioning is likely to stay that way in the near future, industry analysts say.\nThe South Korean tech company, which specializes in memory chips, racked up 22.74 trillion won, the equivalent of $19.7 billion,in semiconductor revenue during the April-June quarter. Total revenue for Intel, was $19.6 billion—or $18.5 billion after subtracting the contribution of a business unit it has agreed to sell.\nIntel, based in Santa Clara, Calif., has held the No. 1 sales spot for much of the past three decades, ceding it to Samsung in 2017 and 2018 when memory-chip sales boomed.\nThe ranking is about more than bragging rights: Intel needs financial clout more than ever. Under new Chief Executive Pat Gelsinger, the company is embarking on an ambitious strategy to manufacture cutting-edge chips—one of the business world’s costliest endeavors.\nChip Fight \nA memory-market uptick helped Samsung'sshares outgain Intel's over the past year.\nSource: FactSet\nIntel aspires to vault into a top-end foundry business, or the contract manufacturing of the most-advanced chips. In the race to miniaturize chip circuitry to the final nanometers, Intel joins a world populated by Taiwan Semiconductor Manufacturing and Samsung, both of which have allocated more than $100 billion. More sales provide more cash for capital expenditures and to give to shareholders.\nThough many firms, including NVIDIA Corp and Qualcomm, design superpowered chips, only TSMC and Samsung are able to manufacture them. Intel could join that list if its contract chip-making ambitions materialize.\nWith a global shortage of chips hobbling businesses world-wide, the U.S., Europe and other governments are offering tens of billions of dollars in incentives to spur the building of chip-making plants. But even so, such cutting-edge production requires advanced machines that cancost $150 million apiece, while a single facility can cost $20 billion.\nThe next frontiers of chip making are so demanding that only TSMC, Samsung and Intel have the technological capability and deep pockets to proceed, said Dale Gai, a research director at Counterpoint Research. “I don’t see anyone in the No. 4 position,” he said.\nThe three-company race will ultimately dictate where—and by whom—the advanced semiconductors essential for 5G cellular networks, self-driving cars and artificial intelligence are made. TSMC is currentlythe biggest foundry player, controlling 55% of the market, while Samsung represents 17%, according to first-quarter data from TrendForce, a market researcher.\nSamsung and Intel didn’t appear to be on a major collision course until Mr. Gelsinger rejoined Intel in January. He wants the company’s future to be making advanced chips not only for itself, but for others.\nMr. Gelsinger said in July that Intel already had more than 100 potential foundry customers lined up. They include Qualcomm, one of the biggest providers of chips for cellphones and a major Samsung customer. “We fully expect that this is going to be a great business for us,” he said on a call with analysts.\nSamsung said it is targeting 20% annual sales growth for its foundry business this year as demand increases, said Shawn Han, a senior vice president for the company’s foundry operations, in a Thursday earnings call. “We will maximize our capabilities to supply chips,” Mr. Han said.\nIt is a robust time for the chip industry, writ large. Global semiconductor revenue is expected to grow 12.5% this year to $522 billion, according to International Data Corp., a market researcher. Global shortages have handed chip makers pricing power and abundant orders.\nGoing forward, Samsung and Intel will look to fund their foundry aspirations by leaning on cash-cow chip businesses that have done well during the pandemic.\nSamsung’s rise to No. 1 in revenue reflects the overwhelming demand for memory chips—they typically cost just a few dollars apiece, compared with hundreds of dollars and often more for the central processing units that provide most of Intel’s income.\nFor the full year, global memory sales are expected to rise 33%, while revenue from CPUs, which go in PCs and data servers, is expected to grow by 4%, according to market researcher Gartner Inc. While PC sales soared during the pandemic and are still rising, growth has slowed of late, according to IDC. And Intel is having to fend off rival CPU makers like Advanced Micro Devices Inc., while some big clients forgo Intel-made chips for in-house alternatives.\nIn March, Mr. Gelsinger unveiled his turnaround plan, along with more than $20 billion in investments in two plants in Arizona. He followed, in May, with a $3.5 billion expansion effort in New Mexico. Additional capacity growth, in the U.S. and abroad, is in the planning stages.\nIn an interview after Intel’s second-quarter earnings announcement, Mr. Gelsinger expressed optimism about the company’s core business, citing appetite for new computers a Microsoft’s Windows 11 operating system hits the market later this year. “We see that strength continuing in the next year and beyond,” he said.","news_type":1,"symbols_score_info":{"TSM":0.9,"SSNNF":0.9,"INTC":0.9}},"isVote":1,"tweetType":1,"viewCount":993,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":805294961,"gmtCreate":1627881621053,"gmtModify":1633755628105,"author":{"id":"4090936695088830","authorId":"4090936695088830","name":"jitkun","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4090936695088830","idStr":"4090936695088830"},"themes":[],"htmlText":"wow","listText":"wow","text":"wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/805294961","repostId":"2156816448","repostType":4,"repost":{"id":"2156816448","kind":"highlight","pubTimestamp":1627881172,"share":"https://www.laohu8.com/m/news/2156816448?lang=zh_CN&edition=full","pubTime":"2021-08-02 13:12","market":"us","language":"en","title":"The buy now, pay later wave: Afterpay, Klarna, Affirm and rivals hope to take U.S. by storm<blockquote>先买后付浪潮：Afterpay、Klarna、Affirm和竞争对手希望席卷美国</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=2156816448","media":"MarketWatch","summary":"A new form of online layway purchases has proved popular in Europe and found acceptance in the U.S. ","content":"<p>A new form of online layway purchases has proved popular in Europe and found acceptance in the U.S. for products like Peloton equipment, and companies are going public with their eyes on spurring the payment option to faster domestic growth</p><p><blockquote>事实证明，一种新的在线layway购买形式在欧洲很受欢迎，并在美国被Peloton设备等产品所接受，公司正在上市，着眼于刺激这种支付方式以加快国内增长</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/84930a25114bbd7d680d015b31af0be5\" tg-width=\"700\" tg-height=\"487\" width=\"100%\" height=\"auto\"><span>MARKETWATCH PHOTO ILLUSTRATION/ISTOCKPHOTO</span></p><p><blockquote><p class=\"t-img-caption\"><span>MARKETWATCH照片插图/ISTOCKPHOTO</span></p></blockquote></p><p> A new form of digital layaway has taken Europe by storm and found some acceptance in the U.S., and the growing handful of rivals in the space are looking to spur more online purchases that Americans pay for over time.</p><p><blockquote>一种新形式的数字分期付款席卷了欧洲，并在美国获得了一些认可，随着时间的推移，该领域越来越多的竞争对手希望刺激更多美国人付费的在线购物。</blockquote></p><p> \"Buy now, pay later\" options -- referred to in the payments industry as BNPL -- offer a twist on the concept of layaway, allowing consumers to split purchases into installments and charging them either simple interest or no interest at all, in a break from the traditional credit model that lets interest compound. Unlike with traditional layaway, consumers receive instant access to their purchase as they pay it off.</p><p><blockquote>“先买后付”选项——在支付行业被称为BNPL——对分期付款的概念进行了改变，允许消费者将购买分成分期付款，并向他们收取单利或根本不收取利息，打破了允许复利的传统信贷模式。与传统的分期付款不同，消费者在还清时可以立即获得购买的商品。</blockquote></p><p> Furniture companies have long let people pay for big-ticket items in installments while taking the product home right away, but now the concept has made its way online, spreading across industries and into smaller purchase amounts, JMP Securities analyst David Scharf noted. Those looking to build fancy home gyms during the pandemic could split the cost of an $1,800-plus Peloton Interactive Inc. <a href=\"https://laohu8.com/S/PTON\">$(PTON)$</a> bike into 39 interest-free monthly payments of $49 using financing from Affirm Holdings Inc. <a href=\"https://laohu8.com/S/AFRM\">$(AFRM)$</a> A host of other players have been rushing to stake their claims elsewhere in the U.S. retail market.</p><p><blockquote>JMP证券分析师大卫·沙夫(David Scharf)指出，家具公司长期以来一直允许人们分期付款购买大件商品，同时立即将产品带回家，但现在这一概念已经在网上传播，跨行业传播，购买金额较小。那些希望在疫情期间建造豪华家庭健身房的人可以分摊1,800多美元的Peloton Interactive Inc.的成本。<a href=\"https://laohu8.com/S/PTON\">$（PTON）$</a>使用Affirm Holdings Inc.的融资，每月支付39笔49美元的免息款项。<a href=\"https://laohu8.com/S/AFRM\">$(AFRM)$</a>许多其他参与者一直在争先恐后地在美国零售市场的其他地方占据一席之地。</blockquote></p><p> The services are seeing surging adoption, driven by growing merchant acceptance, booming e-commerce sales, and what many providers say is a skepticism among younger shoppers about traditional credit offerings. Though BNPL services accounted for just 2% of U.S. e-commerce payments last year according to FIS Global, they're rapidly gaining in popularity. The value of purchases made using BNPL offerings rose 132% in the first quarter, per data from Cardify.ai.</p><p><blockquote>在商家接受度不断提高、电子商务销售蓬勃发展以及许多提供商所说的年轻购物者对传统信贷产品的怀疑的推动下，这些服务的采用率激增。根据FIS Global的数据，尽管去年BNPL服务仅占美国电子商务支付的2%，但它们正在迅速流行。根据Cardify.ai的数据，第一季度使用BNPL产品进行的购买价值增长了132%。</blockquote></p><p> BNPL services are more prevalent overseas, accounting for more than 7% of European e-commerce transactions in 2020 and 10% of Australian ones, according to FIS Global. In Sweden, home to BNPL provider Klarna, installments accounted for 23% of e-commerce transactions last year.</p><p><blockquote>根据FIS Global的数据，BNPL服务在海外更为普遍，2020年占欧洲电子商务交易的7%以上，占澳大利亚电子商务交易的10%。在BNPL提供商Klarna的所在地瑞典，去年分期付款占电子商务交易的23%。</blockquote></p><p> The installment wave has drawn the interest of established giants like <a href=\"https://laohu8.com/S/V\">Visa</a> Inc. (V) and <a href=\"https://laohu8.com/S/PYPL\">PayPal</a> Holdings Inc. (PYPL), as well as a host of newer fintech players that have carved out different paths as they seek to stake their claims in the nascent U.S. market.</p><p><blockquote>分期浪潮吸引了老牌巨头的兴趣，如<a href=\"https://laohu8.com/S/V\">签证</a>公司(V)及<a href=\"https://laohu8.com/S/PYPL\">PayPal</a>控股公司（PYPL）以及许多新兴的金融科技公司在寻求在新兴的美国市场占据一席之地时开辟了不同的道路。</blockquote></p><p> The trend is of growing relevance to investors. U.S. startup Affirm recently went public, while Australia's Afterpay Ltd. , which trades in its home country, is contemplating a U.S. listing given the growing importance of the U.S. market to its business. Sweden's Klarna is considering an IPO in the U.K ., according to Bloomberg, though its chief executive has expressed some concerns about potential regulations.</p><p><blockquote>这一趋势与投资者的相关性越来越大。美国初创公司Affirm最近上市，而在本国开展业务的澳大利亚Afterpay Ltd.鉴于美国市场对其业务的重要性日益增加，正在考虑在美国上市。据彭博报道，瑞典Klarna正在考虑在英国首次公开募股，尽管其首席执行官对潜在的监管表示了一些担忧。</blockquote></p><p> In the credit-card model, merchants pay transaction fees when they accept card payments and consumers pay accrued interest if they carry a balance. BNPL services, which can sometimes be interest-free to the consumer, charge a steeper fee to merchants, who've been increasingly willing to pay up for the services so that consumers will be more inclined to go through with an online purchase.</p><p><blockquote>在信用卡模式中，商家在接受信用卡支付时支付交易费用，消费者如果有余额则支付应计利息。BNPL服务有时对消费者来说是免息的，但向商家收取更高的费用，而商家越来越愿意为服务付费，因此消费者将更倾向于进行在线购买。</blockquote></p><p> BNPL sits amid a number of attractive industry trends, according to Jefferies analyst John Hecht, who sees a $600 billion total transaction opportunity for the industry in the U.S., based on the value of e-commerce purchases made outside of Amazon.com Inc. <a href=\"https://laohu8.com/S/AMZN\">$(AMZN)$</a> He expects that the services could take a bite out of what he views as an $840 billion dollar total addressable market for fintech-enabled credit products.</p><p><blockquote>Jefferies分析师John Hecht表示，BNPL正处于许多有吸引力的行业趋势之中，根据亚马逊公司以外的电子商务采购价值，他认为美国该行业的交易机会总额为6000亿美元。<a href=\"https://laohu8.com/S/AMZN\">$(AMZN)$</a>他预计，这些服务可能会蚕食他认为金融科技支持的信贷产品总潜在市场8400亿美元。</blockquote></p><p> While BNPL offerings are structured differently than traditional credit, they aren't without risk. The various BNPL companies have different policies about missed payments, but some will charge late fees or report to the credit bureaus about failures to make good on payment commitments. The industry is largely unregulated and there are concerns that consumers could end up taking on more installment commitments than they can afford to pay back in the allotted timeframes, especially in a credit crunch.</p><p><blockquote>虽然BNPL产品的结构与传统信贷不同，但它们并非没有风险。不同的BNPL公司对逾期付款有不同的政策，但有些公司会收取滞纳金或向信用机构报告未能履行付款承诺的情况。该行业在很大程度上不受监管，人们担心消费者最终可能会承担比他们在规定时间内偿还的更多分期付款承诺，尤其是在信贷紧缩的情况下。</blockquote></p><p> The companies have different approaches to the U.S. as they try to build or expand their BNPL businesses. MarketWatch spoke to executives at some of the leading offerings to find out their strategies for the market.</p><p><blockquote>这些公司在试图建立或扩大其BNPL业务时对美国采取了不同的做法。MarketWatch采访了一些领先产品的高管，了解他们的市场策略。</blockquote></p><p> <b>Affirm</b></p><p><blockquote><b>申明</b></blockquote></p><p></p><p> While Peloton is Affirm's largest customer, the BNPL company has been expanding its merchant mix, which doubled from a year earlier in the latest quarter to reach almost 12,000 retailers.</p><p><blockquote>虽然Peloton是Affirm最大的客户，但这家BNPL公司一直在扩大其商户组合，最近一个季度的商户组合比去年同期增加了一倍，达到近12,000家零售商。</blockquote></p><p> One move to diversify the company's merchant base is a recent arrangement with <a href=\"https://laohu8.com/S/SHOP\">Shopify Inc</a>. (SHOP.T) that makes it easy for the e-commerce company's merchants to enable Affirm's installment offerings. In exchange, Shopify got equity interest in Affirm.</p><p><blockquote>公司商户基础多元化的一项举措是最近与<a href=\"https://laohu8.com/S/SHOP\">Shopify公司</a>.(SHOP.T)这使得该电子商务公司的商家可以轻松启用Affirm的分期付款产品。作为交换，Shopify获得了Affirm的股权。</blockquote></p><p> \"Because of the nature of the relationship, they have every incentive in the world to make sure it's successful,\" Chief Financial Officer Michael Linford said. He expects that the deal \"will add substantially more value to us than we had to give up\" since Shopify's vast merchant base is \"really difficult if not impossible to build.\"</p><p><blockquote>首席财务官迈克尔·林福德(Michael Linford)表示：“由于这种关系的性质，他们有世界上所有的动力来确保其成功。”他预计这笔交易“将为我们增加比我们不得不放弃的更多的价值”，因为Shopify庞大的商家基础“即使不是不可能建立，也确实很困难”。</blockquote></p><p> Affirm offers a mix of simple-interest and interest-free installment options, and Linford said that the company is particularly differentiated in its work with high-value purchases as its tech and risk-management capabilities enable it to \"create a lot of value for merchants.\" Affirm's underwriting determines which customers would be capable of making their installment payments on big-ticket items.</p><p><blockquote>Affirm提供单息和免息分期付款选项，林福德表示，该公司在高价值采购方面尤其与众不同，因为其技术和风险管理能力使其能够“为商家创造大量价值”。”Affirm的承保决定了哪些客户有能力对大件商品进行分期付款。</blockquote></p><p> At the same time, Affirm sees value in helping to facilitate ordinary spending as well, and it recently announced a debit card that will let people buy things and split them after the fact using their cards.</p><p><blockquote>与此同时，Affirm也看到了帮助促进普通支出的价值，它最近宣布了一种借记卡，可以让人们购买东西，并在事后使用他们的卡进行分割。</blockquote></p><p> The company doesn't charge late fees for customers who miss payments, according to Linford. For customers who ultimately fail to make good on smaller-value payments, the company may lock down access to the Affirm network going forward. Those who don't pay up for bigger-ticket items could be reported to a credit bureau.</p><p><blockquote>林福德表示，该公司不会对错过付款的客户收取滞纳金。对于最终无法兑现小额付款的客户，该公司可能会锁定对Affirm网络的访问。那些不支付大件商品费用的人可能会被举报给信用局。</blockquote></p><p> About 30% of Affirm transactions originate from within the company's \"properties\"--mainly its mobile app--rather than from merchants' own sites. The app is \"really, really powerful for re-engagement\" of users, Linford said, and merchants can pay to show new products or offers on the platform.</p><p><blockquote>大约30%的Affirm交易来自该公司的“资产”内部——主要是其移动应用程序——而不是来自商家自己的网站。林福德表示，该应用程序对于用户的重新参与“非常非常强大”，商家可以付费在平台上展示新产品或优惠。</blockquote></p><p> As e-commerce booms, there's a \"quite aggressive fight to get any sort of mindshare,\" Linford said, and he argued that the platform holds appeal with brands looking to reach younger-generation consumers who have \"high intent and capacity to purchase.\"</p><p><blockquote>林福德表示，随着电子商务的蓬勃发展，“为了获得任何形式的关注度而进行了相当激烈的斗争”，他认为该平台对那些希望吸引“有很高购买意愿和能力”的年轻一代消费者的品牌具有吸引力。”</blockquote></p><p> Because the company enables shopping from within its app, its customers can split purchases even from merchants that don't list Affirm as payment options on their own websites. There's no Affirm button on Amazon's traditional website, for instance, but the e-commerce giant is <a href=\"https://laohu8.com/S/AONE.U\">one</a> of the largest merchants within the Affirm app, Linford said. Affirm uses virtual cards to split customers' Amazon purchases on the back end.</p><p><blockquote>由于该公司支持在其应用程序内购物，因此其客户甚至可以从没有在自己的网站上将Affirm列为支付选项的商家那里分割购买。例如，亚马逊的传统网站上没有确认按钮，但这家电子商务巨头却有<a href=\"https://laohu8.com/S/AONE.U\">一</a>林福德说，Affirm应用程序中最大的商家。Affirm使用虚拟卡在后端分割客户的亚马逊购买。</blockquote></p><p> <b>Afterpay</b></p><p><blockquote><b>Afterpay</b></blockquote></p><p> After helping to kick off the BNPL trend in Australia, Afterpay came to the U.S. market less than three years ago with a focus on interest-free offerings.</p><p><blockquote>在帮助澳大利亚掀起BNPL趋势后，Afterpay不到三年前进入美国市场，专注于免息产品。</blockquote></p><p> Afterpay is \"not trying to upsell someone credit,\" Co-Chief Executive Nick Molnar told MarketWatch, and the company has been \"purposefully focused on the couple-hundred-dollar purchase\" thus far.</p><p><blockquote>Afterpay联席首席执行官尼克·莫尔纳尔(Nick Molnar)告诉MarketWatch，“并不试图向某人追加销售信用”，到目前为止，该公司一直“有目的地专注于数百美元的购买”。</blockquote></p><p> The company charges a late fee after an initial grace period for consumers who fall behind on payments, and it cuts customers off from making future purchases until they pay back what they owe.</p><p><blockquote>该公司在最初的宽限期后对拖欠付款的消费者收取滞纳金，并切断客户未来的购买权，直到他们偿还所欠款项。</blockquote></p><p> \"Unlike a finance company that wants you to be late...with Afterpay you can't keep shopping\" after missing a payment, Molnar said. That dynamic fosters a better relationship with customers, in his view.</p><p><blockquote>莫尔纳尔说，“与希望你迟到的金融公司不同……有了Afterpay，你在错过付款后就无法继续购物”。在他看来，这种动态培养了与客户更好的关系。</blockquote></p><p> Afterpay's North America merchant base grew more than 150% in the latest quarter relative to a year earlier. In the U.S., underlying sales, or the value of items purchased through its service, increased 211%.</p><p><blockquote>Afterpay的北美商户群在最近一个季度同比增长了150%以上。在美国，基础销售额或通过其服务购买的商品价值增长了211%。</blockquote></p><p> The company now works with 23,000 retail brands in the U.S. including Bed Bath &amp; Beyond Inc. <a href=\"https://laohu8.com/S/BBBY\">$(BBBY)$</a> and Lululemon Athletica Inc. <a href=\"https://laohu8.com/S/LULU\">$(LULU)$</a>. A recent partnership with Stripe made it easy for that company's merchants to easily activate Afterpay as a checkout option.</p><p><blockquote>该公司目前与美国23,000个零售品牌合作，其中包括Bed Bath&amp;Beyond Inc.。<a href=\"https://laohu8.com/S/BBBY\">$(BBBY)$</a>和Lululemon Athletica Inc.<a href=\"https://laohu8.com/S/LULU\">$（露露）$</a>.最近与Stripe的合作使该公司的商家可以轻松激活Afterpay作为结账选项。</blockquote></p><p> The company may process 10% to 30% of transactions for its retail partners once enabled as a payment option, Molnar said.</p><p><blockquote>Molnar表示，一旦启用支付选项，该公司可能会为其零售合作伙伴处理10%至30%的交易。</blockquote></p><p> Afterpay is building a presence beyond the checkout button, with 17% of purchases globally during the month of February originating from Shop Directory, meaning that these customers are locating merchants through Afterpay's app or site.</p><p><blockquote>Afterpay正在建立结账按钮之外的业务，2月份全球17%的购买来自商店目录，这意味着这些客户正在通过Afterpay的应用程序或网站找到商家。</blockquote></p><p> While Afterpay is relatively new in the U.S., its success in Australia \"puts into perspective where Afterpay can expand as a business,\" Molnar said. In Australia, 25% of volume comes from in-store purchases, and consumers can pay for things like dentist visits using the service.</p><p><blockquote>莫尔纳尔说，虽然Afterpay在美国相对较新，但它在澳大利亚的成功“让我们看到了Afterpay作为一项业务可以扩展的地方”。在澳大利亚，25%的销量来自店内购买，消费者可以使用该服务支付看牙医等费用。</blockquote></p><p></p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The buy now, pay later wave: Afterpay, Klarna, Affirm and rivals hope to take U.S. by storm<blockquote>先买后付浪潮：Afterpay、Klarna、Affirm和竞争对手希望席卷美国</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe buy now, pay later wave: Afterpay, Klarna, Affirm and rivals hope to take U.S. by storm<blockquote>先买后付浪潮：Afterpay、Klarna、Affirm和竞争对手希望席卷美国</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-08-02 13:12</span>\n</p>\n</h4>\n</header>\n<article>\n<p>A new form of online layway purchases has proved popular in Europe and found acceptance in the U.S. for products like Peloton equipment, and companies are going public with their eyes on spurring the payment option to faster domestic growth</p><p><blockquote>事实证明，一种新的在线layway购买形式在欧洲很受欢迎，并在美国被Peloton设备等产品所接受，公司正在上市，着眼于刺激这种支付方式以加快国内增长</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/84930a25114bbd7d680d015b31af0be5\" tg-width=\"700\" tg-height=\"487\" width=\"100%\" height=\"auto\"><span>MARKETWATCH PHOTO ILLUSTRATION/ISTOCKPHOTO</span></p><p><blockquote><p class=\"t-img-caption\"><span>MARKETWATCH照片插图/ISTOCKPHOTO</span></p></blockquote></p><p> A new form of digital layaway has taken Europe by storm and found some acceptance in the U.S., and the growing handful of rivals in the space are looking to spur more online purchases that Americans pay for over time.</p><p><blockquote>一种新形式的数字分期付款席卷了欧洲，并在美国获得了一些认可，随着时间的推移，该领域越来越多的竞争对手希望刺激更多美国人付费的在线购物。</blockquote></p><p> \"Buy now, pay later\" options -- referred to in the payments industry as BNPL -- offer a twist on the concept of layaway, allowing consumers to split purchases into installments and charging them either simple interest or no interest at all, in a break from the traditional credit model that lets interest compound. Unlike with traditional layaway, consumers receive instant access to their purchase as they pay it off.</p><p><blockquote>“先买后付”选项——在支付行业被称为BNPL——对分期付款的概念进行了改变，允许消费者将购买分成分期付款，并向他们收取单利或根本不收取利息，打破了允许复利的传统信贷模式。与传统的分期付款不同，消费者在还清时可以立即获得购买的商品。</blockquote></p><p> Furniture companies have long let people pay for big-ticket items in installments while taking the product home right away, but now the concept has made its way online, spreading across industries and into smaller purchase amounts, JMP Securities analyst David Scharf noted. Those looking to build fancy home gyms during the pandemic could split the cost of an $1,800-plus Peloton Interactive Inc. <a href=\"https://laohu8.com/S/PTON\">$(PTON)$</a> bike into 39 interest-free monthly payments of $49 using financing from Affirm Holdings Inc. <a href=\"https://laohu8.com/S/AFRM\">$(AFRM)$</a> A host of other players have been rushing to stake their claims elsewhere in the U.S. retail market.</p><p><blockquote>JMP证券分析师大卫·沙夫(David Scharf)指出，家具公司长期以来一直允许人们分期付款购买大件商品，同时立即将产品带回家，但现在这一概念已经在网上传播，跨行业传播，购买金额较小。那些希望在疫情期间建造豪华家庭健身房的人可以分摊1,800多美元的Peloton Interactive Inc.的成本。<a href=\"https://laohu8.com/S/PTON\">$（PTON）$</a>使用Affirm Holdings Inc.的融资，每月支付39笔49美元的免息款项。<a href=\"https://laohu8.com/S/AFRM\">$(AFRM)$</a>许多其他参与者一直在争先恐后地在美国零售市场的其他地方占据一席之地。</blockquote></p><p> The services are seeing surging adoption, driven by growing merchant acceptance, booming e-commerce sales, and what many providers say is a skepticism among younger shoppers about traditional credit offerings. Though BNPL services accounted for just 2% of U.S. e-commerce payments last year according to FIS Global, they're rapidly gaining in popularity. The value of purchases made using BNPL offerings rose 132% in the first quarter, per data from Cardify.ai.</p><p><blockquote>在商家接受度不断提高、电子商务销售蓬勃发展以及许多提供商所说的年轻购物者对传统信贷产品的怀疑的推动下，这些服务的采用率激增。根据FIS Global的数据，尽管去年BNPL服务仅占美国电子商务支付的2%，但它们正在迅速流行。根据Cardify.ai的数据，第一季度使用BNPL产品进行的购买价值增长了132%。</blockquote></p><p> BNPL services are more prevalent overseas, accounting for more than 7% of European e-commerce transactions in 2020 and 10% of Australian ones, according to FIS Global. In Sweden, home to BNPL provider Klarna, installments accounted for 23% of e-commerce transactions last year.</p><p><blockquote>根据FIS Global的数据，BNPL服务在海外更为普遍，2020年占欧洲电子商务交易的7%以上，占澳大利亚电子商务交易的10%。在BNPL提供商Klarna的所在地瑞典，去年分期付款占电子商务交易的23%。</blockquote></p><p> The installment wave has drawn the interest of established giants like <a href=\"https://laohu8.com/S/V\">Visa</a> Inc. (V) and <a href=\"https://laohu8.com/S/PYPL\">PayPal</a> Holdings Inc. (PYPL), as well as a host of newer fintech players that have carved out different paths as they seek to stake their claims in the nascent U.S. market.</p><p><blockquote>分期浪潮吸引了老牌巨头的兴趣，如<a href=\"https://laohu8.com/S/V\">签证</a>公司(V)及<a href=\"https://laohu8.com/S/PYPL\">PayPal</a>控股公司（PYPL）以及许多新兴的金融科技公司在寻求在新兴的美国市场占据一席之地时开辟了不同的道路。</blockquote></p><p> The trend is of growing relevance to investors. U.S. startup Affirm recently went public, while Australia's Afterpay Ltd. , which trades in its home country, is contemplating a U.S. listing given the growing importance of the U.S. market to its business. Sweden's Klarna is considering an IPO in the U.K ., according to Bloomberg, though its chief executive has expressed some concerns about potential regulations.</p><p><blockquote>这一趋势与投资者的相关性越来越大。美国初创公司Affirm最近上市，而在本国开展业务的澳大利亚Afterpay Ltd.鉴于美国市场对其业务的重要性日益增加，正在考虑在美国上市。据彭博报道，瑞典Klarna正在考虑在英国首次公开募股，尽管其首席执行官对潜在的监管表示了一些担忧。</blockquote></p><p> In the credit-card model, merchants pay transaction fees when they accept card payments and consumers pay accrued interest if they carry a balance. BNPL services, which can sometimes be interest-free to the consumer, charge a steeper fee to merchants, who've been increasingly willing to pay up for the services so that consumers will be more inclined to go through with an online purchase.</p><p><blockquote>在信用卡模式中，商家在接受信用卡支付时支付交易费用，消费者如果有余额则支付应计利息。BNPL服务有时对消费者来说是免息的，但向商家收取更高的费用，而商家越来越愿意为服务付费，因此消费者将更倾向于进行在线购买。</blockquote></p><p> BNPL sits amid a number of attractive industry trends, according to Jefferies analyst John Hecht, who sees a $600 billion total transaction opportunity for the industry in the U.S., based on the value of e-commerce purchases made outside of Amazon.com Inc. <a href=\"https://laohu8.com/S/AMZN\">$(AMZN)$</a> He expects that the services could take a bite out of what he views as an $840 billion dollar total addressable market for fintech-enabled credit products.</p><p><blockquote>Jefferies分析师John Hecht表示，BNPL正处于许多有吸引力的行业趋势之中，根据亚马逊公司以外的电子商务采购价值，他认为美国该行业的交易机会总额为6000亿美元。<a href=\"https://laohu8.com/S/AMZN\">$(AMZN)$</a>他预计，这些服务可能会蚕食他认为金融科技支持的信贷产品总潜在市场8400亿美元。</blockquote></p><p> While BNPL offerings are structured differently than traditional credit, they aren't without risk. The various BNPL companies have different policies about missed payments, but some will charge late fees or report to the credit bureaus about failures to make good on payment commitments. The industry is largely unregulated and there are concerns that consumers could end up taking on more installment commitments than they can afford to pay back in the allotted timeframes, especially in a credit crunch.</p><p><blockquote>虽然BNPL产品的结构与传统信贷不同，但它们并非没有风险。不同的BNPL公司对逾期付款有不同的政策，但有些公司会收取滞纳金或向信用机构报告未能履行付款承诺的情况。该行业在很大程度上不受监管，人们担心消费者最终可能会承担比他们在规定时间内偿还的更多分期付款承诺，尤其是在信贷紧缩的情况下。</blockquote></p><p> The companies have different approaches to the U.S. as they try to build or expand their BNPL businesses. MarketWatch spoke to executives at some of the leading offerings to find out their strategies for the market.</p><p><blockquote>这些公司在试图建立或扩大其BNPL业务时对美国采取了不同的做法。MarketWatch采访了一些领先产品的高管，了解他们的市场策略。</blockquote></p><p> <b>Affirm</b></p><p><blockquote><b>申明</b></blockquote></p><p></p><p> While Peloton is Affirm's largest customer, the BNPL company has been expanding its merchant mix, which doubled from a year earlier in the latest quarter to reach almost 12,000 retailers.</p><p><blockquote>虽然Peloton是Affirm最大的客户，但这家BNPL公司一直在扩大其商户组合，最近一个季度的商户组合比去年同期增加了一倍，达到近12,000家零售商。</blockquote></p><p> One move to diversify the company's merchant base is a recent arrangement with <a href=\"https://laohu8.com/S/SHOP\">Shopify Inc</a>. (SHOP.T) that makes it easy for the e-commerce company's merchants to enable Affirm's installment offerings. In exchange, Shopify got equity interest in Affirm.</p><p><blockquote>公司商户基础多元化的一项举措是最近与<a href=\"https://laohu8.com/S/SHOP\">Shopify公司</a>.(SHOP.T)这使得该电子商务公司的商家可以轻松启用Affirm的分期付款产品。作为交换，Shopify获得了Affirm的股权。</blockquote></p><p> \"Because of the nature of the relationship, they have every incentive in the world to make sure it's successful,\" Chief Financial Officer Michael Linford said. He expects that the deal \"will add substantially more value to us than we had to give up\" since Shopify's vast merchant base is \"really difficult if not impossible to build.\"</p><p><blockquote>首席财务官迈克尔·林福德(Michael Linford)表示：“由于这种关系的性质，他们有世界上所有的动力来确保其成功。”他预计这笔交易“将为我们增加比我们不得不放弃的更多的价值”，因为Shopify庞大的商家基础“即使不是不可能建立，也确实很困难”。</blockquote></p><p> Affirm offers a mix of simple-interest and interest-free installment options, and Linford said that the company is particularly differentiated in its work with high-value purchases as its tech and risk-management capabilities enable it to \"create a lot of value for merchants.\" Affirm's underwriting determines which customers would be capable of making their installment payments on big-ticket items.</p><p><blockquote>Affirm提供单息和免息分期付款选项，林福德表示，该公司在高价值采购方面尤其与众不同，因为其技术和风险管理能力使其能够“为商家创造大量价值”。”Affirm的承保决定了哪些客户有能力对大件商品进行分期付款。</blockquote></p><p> At the same time, Affirm sees value in helping to facilitate ordinary spending as well, and it recently announced a debit card that will let people buy things and split them after the fact using their cards.</p><p><blockquote>与此同时，Affirm也看到了帮助促进普通支出的价值，它最近宣布了一种借记卡，可以让人们购买东西，并在事后使用他们的卡进行分割。</blockquote></p><p> The company doesn't charge late fees for customers who miss payments, according to Linford. For customers who ultimately fail to make good on smaller-value payments, the company may lock down access to the Affirm network going forward. Those who don't pay up for bigger-ticket items could be reported to a credit bureau.</p><p><blockquote>林福德表示，该公司不会对错过付款的客户收取滞纳金。对于最终无法兑现小额付款的客户，该公司可能会锁定对Affirm网络的访问。那些不支付大件商品费用的人可能会被举报给信用局。</blockquote></p><p> About 30% of Affirm transactions originate from within the company's \"properties\"--mainly its mobile app--rather than from merchants' own sites. The app is \"really, really powerful for re-engagement\" of users, Linford said, and merchants can pay to show new products or offers on the platform.</p><p><blockquote>大约30%的Affirm交易来自该公司的“资产”内部——主要是其移动应用程序——而不是来自商家自己的网站。林福德表示，该应用程序对于用户的重新参与“非常非常强大”，商家可以付费在平台上展示新产品或优惠。</blockquote></p><p> As e-commerce booms, there's a \"quite aggressive fight to get any sort of mindshare,\" Linford said, and he argued that the platform holds appeal with brands looking to reach younger-generation consumers who have \"high intent and capacity to purchase.\"</p><p><blockquote>林福德表示，随着电子商务的蓬勃发展，“为了获得任何形式的关注度而进行了相当激烈的斗争”，他认为该平台对那些希望吸引“有很高购买意愿和能力”的年轻一代消费者的品牌具有吸引力。”</blockquote></p><p> Because the company enables shopping from within its app, its customers can split purchases even from merchants that don't list Affirm as payment options on their own websites. There's no Affirm button on Amazon's traditional website, for instance, but the e-commerce giant is <a href=\"https://laohu8.com/S/AONE.U\">one</a> of the largest merchants within the Affirm app, Linford said. Affirm uses virtual cards to split customers' Amazon purchases on the back end.</p><p><blockquote>由于该公司支持在其应用程序内购物，因此其客户甚至可以从没有在自己的网站上将Affirm列为支付选项的商家那里分割购买。例如，亚马逊的传统网站上没有确认按钮，但这家电子商务巨头却有<a href=\"https://laohu8.com/S/AONE.U\">一</a>林福德说，Affirm应用程序中最大的商家。Affirm使用虚拟卡在后端分割客户的亚马逊购买。</blockquote></p><p> <b>Afterpay</b></p><p><blockquote><b>Afterpay</b></blockquote></p><p> After helping to kick off the BNPL trend in Australia, Afterpay came to the U.S. market less than three years ago with a focus on interest-free offerings.</p><p><blockquote>在帮助澳大利亚掀起BNPL趋势后，Afterpay不到三年前进入美国市场，专注于免息产品。</blockquote></p><p> Afterpay is \"not trying to upsell someone credit,\" Co-Chief Executive Nick Molnar told MarketWatch, and the company has been \"purposefully focused on the couple-hundred-dollar purchase\" thus far.</p><p><blockquote>Afterpay联席首席执行官尼克·莫尔纳尔(Nick Molnar)告诉MarketWatch，“并不试图向某人追加销售信用”，到目前为止，该公司一直“有目的地专注于数百美元的购买”。</blockquote></p><p> The company charges a late fee after an initial grace period for consumers who fall behind on payments, and it cuts customers off from making future purchases until they pay back what they owe.</p><p><blockquote>该公司在最初的宽限期后对拖欠付款的消费者收取滞纳金，并切断客户未来的购买权，直到他们偿还所欠款项。</blockquote></p><p> \"Unlike a finance company that wants you to be late...with Afterpay you can't keep shopping\" after missing a payment, Molnar said. That dynamic fosters a better relationship with customers, in his view.</p><p><blockquote>莫尔纳尔说，“与希望你迟到的金融公司不同……有了Afterpay，你在错过付款后就无法继续购物”。在他看来，这种动态培养了与客户更好的关系。</blockquote></p><p> Afterpay's North America merchant base grew more than 150% in the latest quarter relative to a year earlier. In the U.S., underlying sales, or the value of items purchased through its service, increased 211%.</p><p><blockquote>Afterpay的北美商户群在最近一个季度同比增长了150%以上。在美国，基础销售额或通过其服务购买的商品价值增长了211%。</blockquote></p><p> The company now works with 23,000 retail brands in the U.S. including Bed Bath &amp; Beyond Inc. <a href=\"https://laohu8.com/S/BBBY\">$(BBBY)$</a> and Lululemon Athletica Inc. <a href=\"https://laohu8.com/S/LULU\">$(LULU)$</a>. A recent partnership with Stripe made it easy for that company's merchants to easily activate Afterpay as a checkout option.</p><p><blockquote>该公司目前与美国23,000个零售品牌合作，其中包括Bed Bath&amp;Beyond Inc.。<a href=\"https://laohu8.com/S/BBBY\">$(BBBY)$</a>和Lululemon Athletica Inc.<a href=\"https://laohu8.com/S/LULU\">$（露露）$</a>.最近与Stripe的合作使该公司的商家可以轻松激活Afterpay作为结账选项。</blockquote></p><p> The company may process 10% to 30% of transactions for its retail partners once enabled as a payment option, Molnar said.</p><p><blockquote>Molnar表示，一旦启用支付选项，该公司可能会为其零售合作伙伴处理10%至30%的交易。</blockquote></p><p> Afterpay is building a presence beyond the checkout button, with 17% of purchases globally during the month of February originating from Shop Directory, meaning that these customers are locating merchants through Afterpay's app or site.</p><p><blockquote>Afterpay正在建立结账按钮之外的业务，2月份全球17%的购买来自商店目录，这意味着这些客户正在通过Afterpay的应用程序或网站找到商家。</blockquote></p><p> While Afterpay is relatively new in the U.S., its success in Australia \"puts into perspective where Afterpay can expand as a business,\" Molnar said. In Australia, 25% of volume comes from in-store purchases, and consumers can pay for things like dentist visits using the service.</p><p><blockquote>莫尔纳尔说，虽然Afterpay在美国相对较新，但它在澳大利亚的成功“让我们看到了Afterpay作为一项业务可以扩展的地方”。在澳大利亚，25%的销量来自店内购买，消费者可以使用该服务支付看牙医等费用。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/the-buy-now-pay-later-wave-klarna-affirm-and-rivals-hope-to-take-u-s-by-storm-11622225931?mod=home-page\">MarketWatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"V":"Visa","AFRM":"Affirm Holdings, Inc.","LULU":"lululemon athletica","TERN":"Terns Pharmaceuticals, Inc.","PYPL":"PayPal","CRCT":"Cricut, Inc.","APT.AU":"Afterpay Touch"},"source_url":"https://www.marketwatch.com/story/the-buy-now-pay-later-wave-klarna-affirm-and-rivals-hope-to-take-u-s-by-storm-11622225931?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2156816448","content_text":"A new form of online layway purchases has proved popular in Europe and found acceptance in the U.S. for products like Peloton equipment, and companies are going public with their eyes on spurring the payment option to faster domestic growth\nMARKETWATCH PHOTO ILLUSTRATION/ISTOCKPHOTO\nA new form of digital layaway has taken Europe by storm and found some acceptance in the U.S., and the growing handful of rivals in the space are looking to spur more online purchases that Americans pay for over time.\n\"Buy now, pay later\" options -- referred to in the payments industry as BNPL -- offer a twist on the concept of layaway, allowing consumers to split purchases into installments and charging them either simple interest or no interest at all, in a break from the traditional credit model that lets interest compound. Unlike with traditional layaway, consumers receive instant access to their purchase as they pay it off.\nFurniture companies have long let people pay for big-ticket items in installments while taking the product home right away, but now the concept has made its way online, spreading across industries and into smaller purchase amounts, JMP Securities analyst David Scharf noted. Those looking to build fancy home gyms during the pandemic could split the cost of an $1,800-plus Peloton Interactive Inc. $(PTON)$ bike into 39 interest-free monthly payments of $49 using financing from Affirm Holdings Inc. $(AFRM)$ A host of other players have been rushing to stake their claims elsewhere in the U.S. retail market.\nThe services are seeing surging adoption, driven by growing merchant acceptance, booming e-commerce sales, and what many providers say is a skepticism among younger shoppers about traditional credit offerings. Though BNPL services accounted for just 2% of U.S. e-commerce payments last year according to FIS Global, they're rapidly gaining in popularity. The value of purchases made using BNPL offerings rose 132% in the first quarter, per data from Cardify.ai.\nBNPL services are more prevalent overseas, accounting for more than 7% of European e-commerce transactions in 2020 and 10% of Australian ones, according to FIS Global. In Sweden, home to BNPL provider Klarna, installments accounted for 23% of e-commerce transactions last year.\nThe installment wave has drawn the interest of established giants like Visa Inc. (V) and PayPal Holdings Inc. (PYPL), as well as a host of newer fintech players that have carved out different paths as they seek to stake their claims in the nascent U.S. market.\nThe trend is of growing relevance to investors. U.S. startup Affirm recently went public, while Australia's Afterpay Ltd. , which trades in its home country, is contemplating a U.S. listing given the growing importance of the U.S. market to its business. Sweden's Klarna is considering an IPO in the U.K ., according to Bloomberg, though its chief executive has expressed some concerns about potential regulations.\nIn the credit-card model, merchants pay transaction fees when they accept card payments and consumers pay accrued interest if they carry a balance. BNPL services, which can sometimes be interest-free to the consumer, charge a steeper fee to merchants, who've been increasingly willing to pay up for the services so that consumers will be more inclined to go through with an online purchase.\nBNPL sits amid a number of attractive industry trends, according to Jefferies analyst John Hecht, who sees a $600 billion total transaction opportunity for the industry in the U.S., based on the value of e-commerce purchases made outside of Amazon.com Inc. $(AMZN)$ He expects that the services could take a bite out of what he views as an $840 billion dollar total addressable market for fintech-enabled credit products.\nWhile BNPL offerings are structured differently than traditional credit, they aren't without risk. The various BNPL companies have different policies about missed payments, but some will charge late fees or report to the credit bureaus about failures to make good on payment commitments. The industry is largely unregulated and there are concerns that consumers could end up taking on more installment commitments than they can afford to pay back in the allotted timeframes, especially in a credit crunch.\nThe companies have different approaches to the U.S. as they try to build or expand their BNPL businesses. MarketWatch spoke to executives at some of the leading offerings to find out their strategies for the market.\nAffirm\nWhile Peloton is Affirm's largest customer, the BNPL company has been expanding its merchant mix, which doubled from a year earlier in the latest quarter to reach almost 12,000 retailers.\nOne move to diversify the company's merchant base is a recent arrangement with Shopify Inc. (SHOP.T) that makes it easy for the e-commerce company's merchants to enable Affirm's installment offerings. In exchange, Shopify got equity interest in Affirm.\n\"Because of the nature of the relationship, they have every incentive in the world to make sure it's successful,\" Chief Financial Officer Michael Linford said. He expects that the deal \"will add substantially more value to us than we had to give up\" since Shopify's vast merchant base is \"really difficult if not impossible to build.\"\nAffirm offers a mix of simple-interest and interest-free installment options, and Linford said that the company is particularly differentiated in its work with high-value purchases as its tech and risk-management capabilities enable it to \"create a lot of value for merchants.\" Affirm's underwriting determines which customers would be capable of making their installment payments on big-ticket items.\nAt the same time, Affirm sees value in helping to facilitate ordinary spending as well, and it recently announced a debit card that will let people buy things and split them after the fact using their cards.\nThe company doesn't charge late fees for customers who miss payments, according to Linford. For customers who ultimately fail to make good on smaller-value payments, the company may lock down access to the Affirm network going forward. Those who don't pay up for bigger-ticket items could be reported to a credit bureau.\nAbout 30% of Affirm transactions originate from within the company's \"properties\"--mainly its mobile app--rather than from merchants' own sites. The app is \"really, really powerful for re-engagement\" of users, Linford said, and merchants can pay to show new products or offers on the platform.\nAs e-commerce booms, there's a \"quite aggressive fight to get any sort of mindshare,\" Linford said, and he argued that the platform holds appeal with brands looking to reach younger-generation consumers who have \"high intent and capacity to purchase.\"\nBecause the company enables shopping from within its app, its customers can split purchases even from merchants that don't list Affirm as payment options on their own websites. There's no Affirm button on Amazon's traditional website, for instance, but the e-commerce giant is one of the largest merchants within the Affirm app, Linford said. Affirm uses virtual cards to split customers' Amazon purchases on the back end.\nAfterpay\nAfter helping to kick off the BNPL trend in Australia, Afterpay came to the U.S. market less than three years ago with a focus on interest-free offerings.\nAfterpay is \"not trying to upsell someone credit,\" Co-Chief Executive Nick Molnar told MarketWatch, and the company has been \"purposefully focused on the couple-hundred-dollar purchase\" thus far.\nThe company charges a late fee after an initial grace period for consumers who fall behind on payments, and it cuts customers off from making future purchases until they pay back what they owe.\n\"Unlike a finance company that wants you to be late...with Afterpay you can't keep shopping\" after missing a payment, Molnar said. That dynamic fosters a better relationship with customers, in his view.\nAfterpay's North America merchant base grew more than 150% in the latest quarter relative to a year earlier. In the U.S., underlying sales, or the value of items purchased through its service, increased 211%.\nThe company now works with 23,000 retail brands in the U.S. including Bed Bath & Beyond Inc. $(BBBY)$ and Lululemon Athletica Inc. $(LULU)$. A recent partnership with Stripe made it easy for that company's merchants to easily activate Afterpay as a checkout option.\nThe company may process 10% to 30% of transactions for its retail partners once enabled as a payment option, Molnar said.\nAfterpay is building a presence beyond the checkout button, with 17% of purchases globally during the month of February originating from Shop Directory, meaning that these customers are locating merchants through Afterpay's app or site.\nWhile Afterpay is relatively new in the U.S., its success in Australia \"puts into perspective where Afterpay can expand as a business,\" Molnar said. In Australia, 25% of volume comes from in-store purchases, and consumers can pay for things like dentist visits using the service.","news_type":1,"symbols_score_info":{"AFRM":0.9,"CRCT":0.9,"TERN":0.9,"V":0.9,"APT.AU":0.9,"LULU":0.9,"PYPL":0.9}},"isVote":1,"tweetType":1,"viewCount":937,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":805295546,"gmtCreate":1627881576885,"gmtModify":1633755628328,"author":{"id":"4090936695088830","authorId":"4090936695088830","name":"jitkun","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4090936695088830","idStr":"4090936695088830"},"themes":[],"htmlText":"wow","listText":"wow","text":"wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/805295546","repostId":"2156816448","repostType":4,"repost":{"id":"2156816448","kind":"highlight","pubTimestamp":1627881172,"share":"https://www.laohu8.com/m/news/2156816448?lang=zh_CN&edition=full","pubTime":"2021-08-02 13:12","market":"us","language":"en","title":"The buy now, pay later wave: Afterpay, Klarna, Affirm and rivals hope to take U.S. by storm<blockquote>先买后付浪潮：Afterpay、Klarna、Affirm和竞争对手希望席卷美国</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=2156816448","media":"MarketWatch","summary":"A new form of online layway purchases has proved popular in Europe and found acceptance in the U.S. ","content":"<p>A new form of online layway purchases has proved popular in Europe and found acceptance in the U.S. for products like Peloton equipment, and companies are going public with their eyes on spurring the payment option to faster domestic growth</p><p><blockquote>事实证明，一种新的在线layway购买形式在欧洲很受欢迎，并在美国被Peloton设备等产品所接受，公司正在上市，着眼于刺激这种支付方式以加快国内增长</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/84930a25114bbd7d680d015b31af0be5\" tg-width=\"700\" tg-height=\"487\" width=\"100%\" height=\"auto\"><span>MARKETWATCH PHOTO ILLUSTRATION/ISTOCKPHOTO</span></p><p><blockquote><p class=\"t-img-caption\"><span>MARKETWATCH照片插图/ISTOCKPHOTO</span></p></blockquote></p><p> A new form of digital layaway has taken Europe by storm and found some acceptance in the U.S., and the growing handful of rivals in the space are looking to spur more online purchases that Americans pay for over time.</p><p><blockquote>一种新形式的数字分期付款席卷了欧洲，并在美国获得了一些认可，随着时间的推移，该领域越来越多的竞争对手希望刺激更多美国人付费的在线购物。</blockquote></p><p> \"Buy now, pay later\" options -- referred to in the payments industry as BNPL -- offer a twist on the concept of layaway, allowing consumers to split purchases into installments and charging them either simple interest or no interest at all, in a break from the traditional credit model that lets interest compound. Unlike with traditional layaway, consumers receive instant access to their purchase as they pay it off.</p><p><blockquote>“先买后付”选项——在支付行业被称为BNPL——对分期付款的概念进行了改变，允许消费者将购买分成分期付款，并向他们收取单利或根本不收取利息，打破了允许复利的传统信贷模式。与传统的分期付款不同，消费者在还清时可以立即获得购买的商品。</blockquote></p><p> Furniture companies have long let people pay for big-ticket items in installments while taking the product home right away, but now the concept has made its way online, spreading across industries and into smaller purchase amounts, JMP Securities analyst David Scharf noted. Those looking to build fancy home gyms during the pandemic could split the cost of an $1,800-plus Peloton Interactive Inc. <a href=\"https://laohu8.com/S/PTON\">$(PTON)$</a> bike into 39 interest-free monthly payments of $49 using financing from Affirm Holdings Inc. <a href=\"https://laohu8.com/S/AFRM\">$(AFRM)$</a> A host of other players have been rushing to stake their claims elsewhere in the U.S. retail market.</p><p><blockquote>JMP证券分析师大卫·沙夫(David Scharf)指出，家具公司长期以来一直允许人们分期付款购买大件商品，同时立即将产品带回家，但现在这一概念已经在网上传播，跨行业传播，购买金额较小。那些希望在疫情期间建造豪华家庭健身房的人可以分摊1,800多美元的Peloton Interactive Inc.的成本。<a href=\"https://laohu8.com/S/PTON\">$（PTON）$</a>使用Affirm Holdings Inc.的融资，每月支付39笔49美元的免息款项。<a href=\"https://laohu8.com/S/AFRM\">$(AFRM)$</a>许多其他参与者一直在争先恐后地在美国零售市场的其他地方占据一席之地。</blockquote></p><p> The services are seeing surging adoption, driven by growing merchant acceptance, booming e-commerce sales, and what many providers say is a skepticism among younger shoppers about traditional credit offerings. Though BNPL services accounted for just 2% of U.S. e-commerce payments last year according to FIS Global, they're rapidly gaining in popularity. The value of purchases made using BNPL offerings rose 132% in the first quarter, per data from Cardify.ai.</p><p><blockquote>在商家接受度不断提高、电子商务销售蓬勃发展以及许多提供商所说的年轻购物者对传统信贷产品的怀疑的推动下，这些服务的采用率激增。根据FIS Global的数据，尽管去年BNPL服务仅占美国电子商务支付的2%，但它们正在迅速流行。根据Cardify.ai的数据，第一季度使用BNPL产品进行的购买价值增长了132%。</blockquote></p><p> BNPL services are more prevalent overseas, accounting for more than 7% of European e-commerce transactions in 2020 and 10% of Australian ones, according to FIS Global. In Sweden, home to BNPL provider Klarna, installments accounted for 23% of e-commerce transactions last year.</p><p><blockquote>根据FIS Global的数据，BNPL服务在海外更为普遍，2020年占欧洲电子商务交易的7%以上，占澳大利亚电子商务交易的10%。在BNPL提供商Klarna的所在地瑞典，去年分期付款占电子商务交易的23%。</blockquote></p><p> The installment wave has drawn the interest of established giants like <a href=\"https://laohu8.com/S/V\">Visa</a> Inc. (V) and <a href=\"https://laohu8.com/S/PYPL\">PayPal</a> Holdings Inc. (PYPL), as well as a host of newer fintech players that have carved out different paths as they seek to stake their claims in the nascent U.S. market.</p><p><blockquote>分期浪潮吸引了老牌巨头的兴趣，如<a href=\"https://laohu8.com/S/V\">签证</a>公司(V)及<a href=\"https://laohu8.com/S/PYPL\">PayPal</a>控股公司（PYPL）以及许多新兴的金融科技公司在寻求在新兴的美国市场占据一席之地时开辟了不同的道路。</blockquote></p><p> The trend is of growing relevance to investors. U.S. startup Affirm recently went public, while Australia's Afterpay Ltd. , which trades in its home country, is contemplating a U.S. listing given the growing importance of the U.S. market to its business. Sweden's Klarna is considering an IPO in the U.K ., according to Bloomberg, though its chief executive has expressed some concerns about potential regulations.</p><p><blockquote>这一趋势与投资者的相关性越来越大。美国初创公司Affirm最近上市，而在本国开展业务的澳大利亚Afterpay Ltd.鉴于美国市场对其业务的重要性日益增加，正在考虑在美国上市。据彭博报道，瑞典Klarna正在考虑在英国首次公开募股，尽管其首席执行官对潜在的监管表示了一些担忧。</blockquote></p><p> In the credit-card model, merchants pay transaction fees when they accept card payments and consumers pay accrued interest if they carry a balance. BNPL services, which can sometimes be interest-free to the consumer, charge a steeper fee to merchants, who've been increasingly willing to pay up for the services so that consumers will be more inclined to go through with an online purchase.</p><p><blockquote>在信用卡模式中，商家在接受信用卡支付时支付交易费用，消费者如果有余额则支付应计利息。BNPL服务有时对消费者来说是免息的，但向商家收取更高的费用，而商家越来越愿意为服务付费，因此消费者将更倾向于进行在线购买。</blockquote></p><p> BNPL sits amid a number of attractive industry trends, according to Jefferies analyst John Hecht, who sees a $600 billion total transaction opportunity for the industry in the U.S., based on the value of e-commerce purchases made outside of Amazon.com Inc. <a href=\"https://laohu8.com/S/AMZN\">$(AMZN)$</a> He expects that the services could take a bite out of what he views as an $840 billion dollar total addressable market for fintech-enabled credit products.</p><p><blockquote>Jefferies分析师John Hecht表示，BNPL正处于许多有吸引力的行业趋势之中，根据亚马逊公司以外的电子商务采购价值，他认为美国该行业的交易机会总额为6000亿美元。<a href=\"https://laohu8.com/S/AMZN\">$(AMZN)$</a>他预计，这些服务可能会蚕食他认为金融科技支持的信贷产品总潜在市场8400亿美元。</blockquote></p><p> While BNPL offerings are structured differently than traditional credit, they aren't without risk. The various BNPL companies have different policies about missed payments, but some will charge late fees or report to the credit bureaus about failures to make good on payment commitments. The industry is largely unregulated and there are concerns that consumers could end up taking on more installment commitments than they can afford to pay back in the allotted timeframes, especially in a credit crunch.</p><p><blockquote>虽然BNPL产品的结构与传统信贷不同，但它们并非没有风险。不同的BNPL公司对逾期付款有不同的政策，但有些公司会收取滞纳金或向信用机构报告未能履行付款承诺的情况。该行业在很大程度上不受监管，人们担心消费者最终可能会承担比他们在规定时间内偿还的更多分期付款承诺，尤其是在信贷紧缩的情况下。</blockquote></p><p> The companies have different approaches to the U.S. as they try to build or expand their BNPL businesses. MarketWatch spoke to executives at some of the leading offerings to find out their strategies for the market.</p><p><blockquote>这些公司在试图建立或扩大其BNPL业务时对美国采取了不同的做法。MarketWatch采访了一些领先产品的高管，了解他们的市场策略。</blockquote></p><p> <b>Affirm</b></p><p><blockquote><b>申明</b></blockquote></p><p></p><p> While Peloton is Affirm's largest customer, the BNPL company has been expanding its merchant mix, which doubled from a year earlier in the latest quarter to reach almost 12,000 retailers.</p><p><blockquote>虽然Peloton是Affirm最大的客户，但这家BNPL公司一直在扩大其商户组合，最近一个季度的商户组合比去年同期增加了一倍，达到近12,000家零售商。</blockquote></p><p> One move to diversify the company's merchant base is a recent arrangement with <a href=\"https://laohu8.com/S/SHOP\">Shopify Inc</a>. (SHOP.T) that makes it easy for the e-commerce company's merchants to enable Affirm's installment offerings. In exchange, Shopify got equity interest in Affirm.</p><p><blockquote>公司商户基础多元化的一项举措是最近与<a href=\"https://laohu8.com/S/SHOP\">Shopify公司</a>.(SHOP.T)这使得该电子商务公司的商家可以轻松启用Affirm的分期付款产品。作为交换，Shopify获得了Affirm的股权。</blockquote></p><p> \"Because of the nature of the relationship, they have every incentive in the world to make sure it's successful,\" Chief Financial Officer Michael Linford said. He expects that the deal \"will add substantially more value to us than we had to give up\" since Shopify's vast merchant base is \"really difficult if not impossible to build.\"</p><p><blockquote>首席财务官迈克尔·林福德(Michael Linford)表示：“由于这种关系的性质，他们有世界上所有的动力来确保其成功。”他预计这笔交易“将为我们增加比我们不得不放弃的更多的价值”，因为Shopify庞大的商家基础“即使不是不可能建立，也确实很困难”。</blockquote></p><p> Affirm offers a mix of simple-interest and interest-free installment options, and Linford said that the company is particularly differentiated in its work with high-value purchases as its tech and risk-management capabilities enable it to \"create a lot of value for merchants.\" Affirm's underwriting determines which customers would be capable of making their installment payments on big-ticket items.</p><p><blockquote>Affirm提供单息和免息分期付款选项，林福德表示，该公司在高价值采购方面尤其与众不同，因为其技术和风险管理能力使其能够“为商家创造大量价值”。”Affirm的承保决定了哪些客户有能力对大件商品进行分期付款。</blockquote></p><p> At the same time, Affirm sees value in helping to facilitate ordinary spending as well, and it recently announced a debit card that will let people buy things and split them after the fact using their cards.</p><p><blockquote>与此同时，Affirm也看到了帮助促进普通支出的价值，它最近宣布了一种借记卡，可以让人们购买东西，并在事后使用他们的卡进行分割。</blockquote></p><p> The company doesn't charge late fees for customers who miss payments, according to Linford. For customers who ultimately fail to make good on smaller-value payments, the company may lock down access to the Affirm network going forward. Those who don't pay up for bigger-ticket items could be reported to a credit bureau.</p><p><blockquote>林福德表示，该公司不会对错过付款的客户收取滞纳金。对于最终无法兑现小额付款的客户，该公司可能会锁定对Affirm网络的访问。那些不支付大件商品费用的人可能会被举报给信用局。</blockquote></p><p> About 30% of Affirm transactions originate from within the company's \"properties\"--mainly its mobile app--rather than from merchants' own sites. The app is \"really, really powerful for re-engagement\" of users, Linford said, and merchants can pay to show new products or offers on the platform.</p><p><blockquote>大约30%的Affirm交易来自该公司的“资产”内部——主要是其移动应用程序——而不是来自商家自己的网站。林福德表示，该应用程序对于用户的重新参与“非常非常强大”，商家可以付费在平台上展示新产品或优惠。</blockquote></p><p> As e-commerce booms, there's a \"quite aggressive fight to get any sort of mindshare,\" Linford said, and he argued that the platform holds appeal with brands looking to reach younger-generation consumers who have \"high intent and capacity to purchase.\"</p><p><blockquote>林福德表示，随着电子商务的蓬勃发展，“为了获得任何形式的关注度而进行了相当激烈的斗争”，他认为该平台对那些希望吸引“有很高购买意愿和能力”的年轻一代消费者的品牌具有吸引力。”</blockquote></p><p> Because the company enables shopping from within its app, its customers can split purchases even from merchants that don't list Affirm as payment options on their own websites. There's no Affirm button on Amazon's traditional website, for instance, but the e-commerce giant is <a href=\"https://laohu8.com/S/AONE.U\">one</a> of the largest merchants within the Affirm app, Linford said. Affirm uses virtual cards to split customers' Amazon purchases on the back end.</p><p><blockquote>由于该公司支持在其应用程序内购物，因此其客户甚至可以从没有在自己的网站上将Affirm列为支付选项的商家那里分割购买。例如，亚马逊的传统网站上没有确认按钮，但这家电子商务巨头却有<a href=\"https://laohu8.com/S/AONE.U\">一</a>林福德说，Affirm应用程序中最大的商家。Affirm使用虚拟卡在后端分割客户的亚马逊购买。</blockquote></p><p> <b>Afterpay</b></p><p><blockquote><b>Afterpay</b></blockquote></p><p> After helping to kick off the BNPL trend in Australia, Afterpay came to the U.S. market less than three years ago with a focus on interest-free offerings.</p><p><blockquote>在帮助澳大利亚掀起BNPL趋势后，Afterpay不到三年前进入美国市场，专注于免息产品。</blockquote></p><p> Afterpay is \"not trying to upsell someone credit,\" Co-Chief Executive Nick Molnar told MarketWatch, and the company has been \"purposefully focused on the couple-hundred-dollar purchase\" thus far.</p><p><blockquote>Afterpay联席首席执行官尼克·莫尔纳尔(Nick Molnar)告诉MarketWatch，“并不试图向某人追加销售信用”，到目前为止，该公司一直“有目的地专注于数百美元的购买”。</blockquote></p><p> The company charges a late fee after an initial grace period for consumers who fall behind on payments, and it cuts customers off from making future purchases until they pay back what they owe.</p><p><blockquote>该公司在最初的宽限期后对拖欠付款的消费者收取滞纳金，并切断客户未来的购买权，直到他们偿还所欠款项。</blockquote></p><p> \"Unlike a finance company that wants you to be late...with Afterpay you can't keep shopping\" after missing a payment, Molnar said. That dynamic fosters a better relationship with customers, in his view.</p><p><blockquote>莫尔纳尔说，“与希望你迟到的金融公司不同……有了Afterpay，你在错过付款后就无法继续购物”。在他看来，这种动态培养了与客户更好的关系。</blockquote></p><p> Afterpay's North America merchant base grew more than 150% in the latest quarter relative to a year earlier. In the U.S., underlying sales, or the value of items purchased through its service, increased 211%.</p><p><blockquote>Afterpay的北美商户群在最近一个季度同比增长了150%以上。在美国，基础销售额或通过其服务购买的商品价值增长了211%。</blockquote></p><p> The company now works with 23,000 retail brands in the U.S. including Bed Bath &amp; Beyond Inc. <a href=\"https://laohu8.com/S/BBBY\">$(BBBY)$</a> and Lululemon Athletica Inc. <a href=\"https://laohu8.com/S/LULU\">$(LULU)$</a>. A recent partnership with Stripe made it easy for that company's merchants to easily activate Afterpay as a checkout option.</p><p><blockquote>该公司目前与美国23,000个零售品牌合作，其中包括Bed Bath&amp;Beyond Inc.。<a href=\"https://laohu8.com/S/BBBY\">$(BBBY)$</a>和Lululemon Athletica Inc.<a href=\"https://laohu8.com/S/LULU\">$（露露）$</a>.最近与Stripe的合作使该公司的商家可以轻松激活Afterpay作为结账选项。</blockquote></p><p> The company may process 10% to 30% of transactions for its retail partners once enabled as a payment option, Molnar said.</p><p><blockquote>Molnar表示，一旦启用支付选项，该公司可能会为其零售合作伙伴处理10%至30%的交易。</blockquote></p><p> Afterpay is building a presence beyond the checkout button, with 17% of purchases globally during the month of February originating from Shop Directory, meaning that these customers are locating merchants through Afterpay's app or site.</p><p><blockquote>Afterpay正在建立结账按钮之外的业务，2月份全球17%的购买来自商店目录，这意味着这些客户正在通过Afterpay的应用程序或网站找到商家。</blockquote></p><p> While Afterpay is relatively new in the U.S., its success in Australia \"puts into perspective where Afterpay can expand as a business,\" Molnar said. In Australia, 25% of volume comes from in-store purchases, and consumers can pay for things like dentist visits using the service.</p><p><blockquote>莫尔纳尔说，虽然Afterpay在美国相对较新，但它在澳大利亚的成功“让我们看到了Afterpay作为一项业务可以扩展的地方”。在澳大利亚，25%的销量来自店内购买，消费者可以使用该服务支付看牙医等费用。</blockquote></p><p></p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The buy now, pay later wave: Afterpay, Klarna, Affirm and rivals hope to take U.S. by storm<blockquote>先买后付浪潮：Afterpay、Klarna、Affirm和竞争对手希望席卷美国</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe buy now, pay later wave: Afterpay, Klarna, Affirm and rivals hope to take U.S. by storm<blockquote>先买后付浪潮：Afterpay、Klarna、Affirm和竞争对手希望席卷美国</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-08-02 13:12</span>\n</p>\n</h4>\n</header>\n<article>\n<p>A new form of online layway purchases has proved popular in Europe and found acceptance in the U.S. for products like Peloton equipment, and companies are going public with their eyes on spurring the payment option to faster domestic growth</p><p><blockquote>事实证明，一种新的在线layway购买形式在欧洲很受欢迎，并在美国被Peloton设备等产品所接受，公司正在上市，着眼于刺激这种支付方式以加快国内增长</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/84930a25114bbd7d680d015b31af0be5\" tg-width=\"700\" tg-height=\"487\" width=\"100%\" height=\"auto\"><span>MARKETWATCH PHOTO ILLUSTRATION/ISTOCKPHOTO</span></p><p><blockquote><p class=\"t-img-caption\"><span>MARKETWATCH照片插图/ISTOCKPHOTO</span></p></blockquote></p><p> A new form of digital layaway has taken Europe by storm and found some acceptance in the U.S., and the growing handful of rivals in the space are looking to spur more online purchases that Americans pay for over time.</p><p><blockquote>一种新形式的数字分期付款席卷了欧洲，并在美国获得了一些认可，随着时间的推移，该领域越来越多的竞争对手希望刺激更多美国人付费的在线购物。</blockquote></p><p> \"Buy now, pay later\" options -- referred to in the payments industry as BNPL -- offer a twist on the concept of layaway, allowing consumers to split purchases into installments and charging them either simple interest or no interest at all, in a break from the traditional credit model that lets interest compound. Unlike with traditional layaway, consumers receive instant access to their purchase as they pay it off.</p><p><blockquote>“先买后付”选项——在支付行业被称为BNPL——对分期付款的概念进行了改变，允许消费者将购买分成分期付款，并向他们收取单利或根本不收取利息，打破了允许复利的传统信贷模式。与传统的分期付款不同，消费者在还清时可以立即获得购买的商品。</blockquote></p><p> Furniture companies have long let people pay for big-ticket items in installments while taking the product home right away, but now the concept has made its way online, spreading across industries and into smaller purchase amounts, JMP Securities analyst David Scharf noted. Those looking to build fancy home gyms during the pandemic could split the cost of an $1,800-plus Peloton Interactive Inc. <a href=\"https://laohu8.com/S/PTON\">$(PTON)$</a> bike into 39 interest-free monthly payments of $49 using financing from Affirm Holdings Inc. <a href=\"https://laohu8.com/S/AFRM\">$(AFRM)$</a> A host of other players have been rushing to stake their claims elsewhere in the U.S. retail market.</p><p><blockquote>JMP证券分析师大卫·沙夫(David Scharf)指出，家具公司长期以来一直允许人们分期付款购买大件商品，同时立即将产品带回家，但现在这一概念已经在网上传播，跨行业传播，购买金额较小。那些希望在疫情期间建造豪华家庭健身房的人可以分摊1,800多美元的Peloton Interactive Inc.的成本。<a href=\"https://laohu8.com/S/PTON\">$（PTON）$</a>使用Affirm Holdings Inc.的融资，每月支付39笔49美元的免息款项。<a href=\"https://laohu8.com/S/AFRM\">$(AFRM)$</a>许多其他参与者一直在争先恐后地在美国零售市场的其他地方占据一席之地。</blockquote></p><p> The services are seeing surging adoption, driven by growing merchant acceptance, booming e-commerce sales, and what many providers say is a skepticism among younger shoppers about traditional credit offerings. Though BNPL services accounted for just 2% of U.S. e-commerce payments last year according to FIS Global, they're rapidly gaining in popularity. The value of purchases made using BNPL offerings rose 132% in the first quarter, per data from Cardify.ai.</p><p><blockquote>在商家接受度不断提高、电子商务销售蓬勃发展以及许多提供商所说的年轻购物者对传统信贷产品的怀疑的推动下，这些服务的采用率激增。根据FIS Global的数据，尽管去年BNPL服务仅占美国电子商务支付的2%，但它们正在迅速流行。根据Cardify.ai的数据，第一季度使用BNPL产品进行的购买价值增长了132%。</blockquote></p><p> BNPL services are more prevalent overseas, accounting for more than 7% of European e-commerce transactions in 2020 and 10% of Australian ones, according to FIS Global. In Sweden, home to BNPL provider Klarna, installments accounted for 23% of e-commerce transactions last year.</p><p><blockquote>根据FIS Global的数据，BNPL服务在海外更为普遍，2020年占欧洲电子商务交易的7%以上，占澳大利亚电子商务交易的10%。在BNPL提供商Klarna的所在地瑞典，去年分期付款占电子商务交易的23%。</blockquote></p><p> The installment wave has drawn the interest of established giants like <a href=\"https://laohu8.com/S/V\">Visa</a> Inc. (V) and <a href=\"https://laohu8.com/S/PYPL\">PayPal</a> Holdings Inc. (PYPL), as well as a host of newer fintech players that have carved out different paths as they seek to stake their claims in the nascent U.S. market.</p><p><blockquote>分期浪潮吸引了老牌巨头的兴趣，如<a href=\"https://laohu8.com/S/V\">签证</a>公司(V)及<a href=\"https://laohu8.com/S/PYPL\">PayPal</a>控股公司（PYPL）以及许多新兴的金融科技公司在寻求在新兴的美国市场占据一席之地时开辟了不同的道路。</blockquote></p><p> The trend is of growing relevance to investors. U.S. startup Affirm recently went public, while Australia's Afterpay Ltd. , which trades in its home country, is contemplating a U.S. listing given the growing importance of the U.S. market to its business. Sweden's Klarna is considering an IPO in the U.K ., according to Bloomberg, though its chief executive has expressed some concerns about potential regulations.</p><p><blockquote>这一趋势与投资者的相关性越来越大。美国初创公司Affirm最近上市，而在本国开展业务的澳大利亚Afterpay Ltd.鉴于美国市场对其业务的重要性日益增加，正在考虑在美国上市。据彭博报道，瑞典Klarna正在考虑在英国首次公开募股，尽管其首席执行官对潜在的监管表示了一些担忧。</blockquote></p><p> In the credit-card model, merchants pay transaction fees when they accept card payments and consumers pay accrued interest if they carry a balance. BNPL services, which can sometimes be interest-free to the consumer, charge a steeper fee to merchants, who've been increasingly willing to pay up for the services so that consumers will be more inclined to go through with an online purchase.</p><p><blockquote>在信用卡模式中，商家在接受信用卡支付时支付交易费用，消费者如果有余额则支付应计利息。BNPL服务有时对消费者来说是免息的，但向商家收取更高的费用，而商家越来越愿意为服务付费，因此消费者将更倾向于进行在线购买。</blockquote></p><p> BNPL sits amid a number of attractive industry trends, according to Jefferies analyst John Hecht, who sees a $600 billion total transaction opportunity for the industry in the U.S., based on the value of e-commerce purchases made outside of Amazon.com Inc. <a href=\"https://laohu8.com/S/AMZN\">$(AMZN)$</a> He expects that the services could take a bite out of what he views as an $840 billion dollar total addressable market for fintech-enabled credit products.</p><p><blockquote>Jefferies分析师John Hecht表示，BNPL正处于许多有吸引力的行业趋势之中，根据亚马逊公司以外的电子商务采购价值，他认为美国该行业的交易机会总额为6000亿美元。<a href=\"https://laohu8.com/S/AMZN\">$(AMZN)$</a>他预计，这些服务可能会蚕食他认为金融科技支持的信贷产品总潜在市场8400亿美元。</blockquote></p><p> While BNPL offerings are structured differently than traditional credit, they aren't without risk. The various BNPL companies have different policies about missed payments, but some will charge late fees or report to the credit bureaus about failures to make good on payment commitments. The industry is largely unregulated and there are concerns that consumers could end up taking on more installment commitments than they can afford to pay back in the allotted timeframes, especially in a credit crunch.</p><p><blockquote>虽然BNPL产品的结构与传统信贷不同，但它们并非没有风险。不同的BNPL公司对逾期付款有不同的政策，但有些公司会收取滞纳金或向信用机构报告未能履行付款承诺的情况。该行业在很大程度上不受监管，人们担心消费者最终可能会承担比他们在规定时间内偿还的更多分期付款承诺，尤其是在信贷紧缩的情况下。</blockquote></p><p> The companies have different approaches to the U.S. as they try to build or expand their BNPL businesses. MarketWatch spoke to executives at some of the leading offerings to find out their strategies for the market.</p><p><blockquote>这些公司在试图建立或扩大其BNPL业务时对美国采取了不同的做法。MarketWatch采访了一些领先产品的高管，了解他们的市场策略。</blockquote></p><p> <b>Affirm</b></p><p><blockquote><b>申明</b></blockquote></p><p></p><p> While Peloton is Affirm's largest customer, the BNPL company has been expanding its merchant mix, which doubled from a year earlier in the latest quarter to reach almost 12,000 retailers.</p><p><blockquote>虽然Peloton是Affirm最大的客户，但这家BNPL公司一直在扩大其商户组合，最近一个季度的商户组合比去年同期增加了一倍，达到近12,000家零售商。</blockquote></p><p> One move to diversify the company's merchant base is a recent arrangement with <a href=\"https://laohu8.com/S/SHOP\">Shopify Inc</a>. (SHOP.T) that makes it easy for the e-commerce company's merchants to enable Affirm's installment offerings. In exchange, Shopify got equity interest in Affirm.</p><p><blockquote>公司商户基础多元化的一项举措是最近与<a href=\"https://laohu8.com/S/SHOP\">Shopify公司</a>.(SHOP.T)这使得该电子商务公司的商家可以轻松启用Affirm的分期付款产品。作为交换，Shopify获得了Affirm的股权。</blockquote></p><p> \"Because of the nature of the relationship, they have every incentive in the world to make sure it's successful,\" Chief Financial Officer Michael Linford said. He expects that the deal \"will add substantially more value to us than we had to give up\" since Shopify's vast merchant base is \"really difficult if not impossible to build.\"</p><p><blockquote>首席财务官迈克尔·林福德(Michael Linford)表示：“由于这种关系的性质，他们有世界上所有的动力来确保其成功。”他预计这笔交易“将为我们增加比我们不得不放弃的更多的价值”，因为Shopify庞大的商家基础“即使不是不可能建立，也确实很困难”。</blockquote></p><p> Affirm offers a mix of simple-interest and interest-free installment options, and Linford said that the company is particularly differentiated in its work with high-value purchases as its tech and risk-management capabilities enable it to \"create a lot of value for merchants.\" Affirm's underwriting determines which customers would be capable of making their installment payments on big-ticket items.</p><p><blockquote>Affirm提供单息和免息分期付款选项，林福德表示，该公司在高价值采购方面尤其与众不同，因为其技术和风险管理能力使其能够“为商家创造大量价值”。”Affirm的承保决定了哪些客户有能力对大件商品进行分期付款。</blockquote></p><p> At the same time, Affirm sees value in helping to facilitate ordinary spending as well, and it recently announced a debit card that will let people buy things and split them after the fact using their cards.</p><p><blockquote>与此同时，Affirm也看到了帮助促进普通支出的价值，它最近宣布了一种借记卡，可以让人们购买东西，并在事后使用他们的卡进行分割。</blockquote></p><p> The company doesn't charge late fees for customers who miss payments, according to Linford. For customers who ultimately fail to make good on smaller-value payments, the company may lock down access to the Affirm network going forward. Those who don't pay up for bigger-ticket items could be reported to a credit bureau.</p><p><blockquote>林福德表示，该公司不会对错过付款的客户收取滞纳金。对于最终无法兑现小额付款的客户，该公司可能会锁定对Affirm网络的访问。那些不支付大件商品费用的人可能会被举报给信用局。</blockquote></p><p> About 30% of Affirm transactions originate from within the company's \"properties\"--mainly its mobile app--rather than from merchants' own sites. The app is \"really, really powerful for re-engagement\" of users, Linford said, and merchants can pay to show new products or offers on the platform.</p><p><blockquote>大约30%的Affirm交易来自该公司的“资产”内部——主要是其移动应用程序——而不是来自商家自己的网站。林福德表示，该应用程序对于用户的重新参与“非常非常强大”，商家可以付费在平台上展示新产品或优惠。</blockquote></p><p> As e-commerce booms, there's a \"quite aggressive fight to get any sort of mindshare,\" Linford said, and he argued that the platform holds appeal with brands looking to reach younger-generation consumers who have \"high intent and capacity to purchase.\"</p><p><blockquote>林福德表示，随着电子商务的蓬勃发展，“为了获得任何形式的关注度而进行了相当激烈的斗争”，他认为该平台对那些希望吸引“有很高购买意愿和能力”的年轻一代消费者的品牌具有吸引力。”</blockquote></p><p> Because the company enables shopping from within its app, its customers can split purchases even from merchants that don't list Affirm as payment options on their own websites. There's no Affirm button on Amazon's traditional website, for instance, but the e-commerce giant is <a href=\"https://laohu8.com/S/AONE.U\">one</a> of the largest merchants within the Affirm app, Linford said. Affirm uses virtual cards to split customers' Amazon purchases on the back end.</p><p><blockquote>由于该公司支持在其应用程序内购物，因此其客户甚至可以从没有在自己的网站上将Affirm列为支付选项的商家那里分割购买。例如，亚马逊的传统网站上没有确认按钮，但这家电子商务巨头却有<a href=\"https://laohu8.com/S/AONE.U\">一</a>林福德说，Affirm应用程序中最大的商家。Affirm使用虚拟卡在后端分割客户的亚马逊购买。</blockquote></p><p> <b>Afterpay</b></p><p><blockquote><b>Afterpay</b></blockquote></p><p> After helping to kick off the BNPL trend in Australia, Afterpay came to the U.S. market less than three years ago with a focus on interest-free offerings.</p><p><blockquote>在帮助澳大利亚掀起BNPL趋势后，Afterpay不到三年前进入美国市场，专注于免息产品。</blockquote></p><p> Afterpay is \"not trying to upsell someone credit,\" Co-Chief Executive Nick Molnar told MarketWatch, and the company has been \"purposefully focused on the couple-hundred-dollar purchase\" thus far.</p><p><blockquote>Afterpay联席首席执行官尼克·莫尔纳尔(Nick Molnar)告诉MarketWatch，“并不试图向某人追加销售信用”，到目前为止，该公司一直“有目的地专注于数百美元的购买”。</blockquote></p><p> The company charges a late fee after an initial grace period for consumers who fall behind on payments, and it cuts customers off from making future purchases until they pay back what they owe.</p><p><blockquote>该公司在最初的宽限期后对拖欠付款的消费者收取滞纳金，并切断客户未来的购买权，直到他们偿还所欠款项。</blockquote></p><p> \"Unlike a finance company that wants you to be late...with Afterpay you can't keep shopping\" after missing a payment, Molnar said. That dynamic fosters a better relationship with customers, in his view.</p><p><blockquote>莫尔纳尔说，“与希望你迟到的金融公司不同……有了Afterpay，你在错过付款后就无法继续购物”。在他看来，这种动态培养了与客户更好的关系。</blockquote></p><p> Afterpay's North America merchant base grew more than 150% in the latest quarter relative to a year earlier. In the U.S., underlying sales, or the value of items purchased through its service, increased 211%.</p><p><blockquote>Afterpay的北美商户群在最近一个季度同比增长了150%以上。在美国，基础销售额或通过其服务购买的商品价值增长了211%。</blockquote></p><p> The company now works with 23,000 retail brands in the U.S. including Bed Bath &amp; Beyond Inc. <a href=\"https://laohu8.com/S/BBBY\">$(BBBY)$</a> and Lululemon Athletica Inc. <a href=\"https://laohu8.com/S/LULU\">$(LULU)$</a>. A recent partnership with Stripe made it easy for that company's merchants to easily activate Afterpay as a checkout option.</p><p><blockquote>该公司目前与美国23,000个零售品牌合作，其中包括Bed Bath&amp;Beyond Inc.。<a href=\"https://laohu8.com/S/BBBY\">$(BBBY)$</a>和Lululemon Athletica Inc.<a href=\"https://laohu8.com/S/LULU\">$（露露）$</a>.最近与Stripe的合作使该公司的商家可以轻松激活Afterpay作为结账选项。</blockquote></p><p> The company may process 10% to 30% of transactions for its retail partners once enabled as a payment option, Molnar said.</p><p><blockquote>Molnar表示，一旦启用支付选项，该公司可能会为其零售合作伙伴处理10%至30%的交易。</blockquote></p><p> Afterpay is building a presence beyond the checkout button, with 17% of purchases globally during the month of February originating from Shop Directory, meaning that these customers are locating merchants through Afterpay's app or site.</p><p><blockquote>Afterpay正在建立结账按钮之外的业务，2月份全球17%的购买来自商店目录，这意味着这些客户正在通过Afterpay的应用程序或网站找到商家。</blockquote></p><p> While Afterpay is relatively new in the U.S., its success in Australia \"puts into perspective where Afterpay can expand as a business,\" Molnar said. In Australia, 25% of volume comes from in-store purchases, and consumers can pay for things like dentist visits using the service.</p><p><blockquote>莫尔纳尔说，虽然Afterpay在美国相对较新，但它在澳大利亚的成功“让我们看到了Afterpay作为一项业务可以扩展的地方”。在澳大利亚，25%的销量来自店内购买，消费者可以使用该服务支付看牙医等费用。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/the-buy-now-pay-later-wave-klarna-affirm-and-rivals-hope-to-take-u-s-by-storm-11622225931?mod=home-page\">MarketWatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"V":"Visa","AFRM":"Affirm Holdings, Inc.","LULU":"lululemon athletica","TERN":"Terns Pharmaceuticals, Inc.","PYPL":"PayPal","CRCT":"Cricut, Inc.","APT.AU":"Afterpay Touch"},"source_url":"https://www.marketwatch.com/story/the-buy-now-pay-later-wave-klarna-affirm-and-rivals-hope-to-take-u-s-by-storm-11622225931?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2156816448","content_text":"A new form of online layway purchases has proved popular in Europe and found acceptance in the U.S. for products like Peloton equipment, and companies are going public with their eyes on spurring the payment option to faster domestic growth\nMARKETWATCH PHOTO ILLUSTRATION/ISTOCKPHOTO\nA new form of digital layaway has taken Europe by storm and found some acceptance in the U.S., and the growing handful of rivals in the space are looking to spur more online purchases that Americans pay for over time.\n\"Buy now, pay later\" options -- referred to in the payments industry as BNPL -- offer a twist on the concept of layaway, allowing consumers to split purchases into installments and charging them either simple interest or no interest at all, in a break from the traditional credit model that lets interest compound. Unlike with traditional layaway, consumers receive instant access to their purchase as they pay it off.\nFurniture companies have long let people pay for big-ticket items in installments while taking the product home right away, but now the concept has made its way online, spreading across industries and into smaller purchase amounts, JMP Securities analyst David Scharf noted. Those looking to build fancy home gyms during the pandemic could split the cost of an $1,800-plus Peloton Interactive Inc. $(PTON)$ bike into 39 interest-free monthly payments of $49 using financing from Affirm Holdings Inc. $(AFRM)$ A host of other players have been rushing to stake their claims elsewhere in the U.S. retail market.\nThe services are seeing surging adoption, driven by growing merchant acceptance, booming e-commerce sales, and what many providers say is a skepticism among younger shoppers about traditional credit offerings. Though BNPL services accounted for just 2% of U.S. e-commerce payments last year according to FIS Global, they're rapidly gaining in popularity. The value of purchases made using BNPL offerings rose 132% in the first quarter, per data from Cardify.ai.\nBNPL services are more prevalent overseas, accounting for more than 7% of European e-commerce transactions in 2020 and 10% of Australian ones, according to FIS Global. In Sweden, home to BNPL provider Klarna, installments accounted for 23% of e-commerce transactions last year.\nThe installment wave has drawn the interest of established giants like Visa Inc. (V) and PayPal Holdings Inc. (PYPL), as well as a host of newer fintech players that have carved out different paths as they seek to stake their claims in the nascent U.S. market.\nThe trend is of growing relevance to investors. U.S. startup Affirm recently went public, while Australia's Afterpay Ltd. , which trades in its home country, is contemplating a U.S. listing given the growing importance of the U.S. market to its business. Sweden's Klarna is considering an IPO in the U.K ., according to Bloomberg, though its chief executive has expressed some concerns about potential regulations.\nIn the credit-card model, merchants pay transaction fees when they accept card payments and consumers pay accrued interest if they carry a balance. BNPL services, which can sometimes be interest-free to the consumer, charge a steeper fee to merchants, who've been increasingly willing to pay up for the services so that consumers will be more inclined to go through with an online purchase.\nBNPL sits amid a number of attractive industry trends, according to Jefferies analyst John Hecht, who sees a $600 billion total transaction opportunity for the industry in the U.S., based on the value of e-commerce purchases made outside of Amazon.com Inc. $(AMZN)$ He expects that the services could take a bite out of what he views as an $840 billion dollar total addressable market for fintech-enabled credit products.\nWhile BNPL offerings are structured differently than traditional credit, they aren't without risk. The various BNPL companies have different policies about missed payments, but some will charge late fees or report to the credit bureaus about failures to make good on payment commitments. The industry is largely unregulated and there are concerns that consumers could end up taking on more installment commitments than they can afford to pay back in the allotted timeframes, especially in a credit crunch.\nThe companies have different approaches to the U.S. as they try to build or expand their BNPL businesses. MarketWatch spoke to executives at some of the leading offerings to find out their strategies for the market.\nAffirm\nWhile Peloton is Affirm's largest customer, the BNPL company has been expanding its merchant mix, which doubled from a year earlier in the latest quarter to reach almost 12,000 retailers.\nOne move to diversify the company's merchant base is a recent arrangement with Shopify Inc. (SHOP.T) that makes it easy for the e-commerce company's merchants to enable Affirm's installment offerings. In exchange, Shopify got equity interest in Affirm.\n\"Because of the nature of the relationship, they have every incentive in the world to make sure it's successful,\" Chief Financial Officer Michael Linford said. He expects that the deal \"will add substantially more value to us than we had to give up\" since Shopify's vast merchant base is \"really difficult if not impossible to build.\"\nAffirm offers a mix of simple-interest and interest-free installment options, and Linford said that the company is particularly differentiated in its work with high-value purchases as its tech and risk-management capabilities enable it to \"create a lot of value for merchants.\" Affirm's underwriting determines which customers would be capable of making their installment payments on big-ticket items.\nAt the same time, Affirm sees value in helping to facilitate ordinary spending as well, and it recently announced a debit card that will let people buy things and split them after the fact using their cards.\nThe company doesn't charge late fees for customers who miss payments, according to Linford. For customers who ultimately fail to make good on smaller-value payments, the company may lock down access to the Affirm network going forward. Those who don't pay up for bigger-ticket items could be reported to a credit bureau.\nAbout 30% of Affirm transactions originate from within the company's \"properties\"--mainly its mobile app--rather than from merchants' own sites. The app is \"really, really powerful for re-engagement\" of users, Linford said, and merchants can pay to show new products or offers on the platform.\nAs e-commerce booms, there's a \"quite aggressive fight to get any sort of mindshare,\" Linford said, and he argued that the platform holds appeal with brands looking to reach younger-generation consumers who have \"high intent and capacity to purchase.\"\nBecause the company enables shopping from within its app, its customers can split purchases even from merchants that don't list Affirm as payment options on their own websites. There's no Affirm button on Amazon's traditional website, for instance, but the e-commerce giant is one of the largest merchants within the Affirm app, Linford said. Affirm uses virtual cards to split customers' Amazon purchases on the back end.\nAfterpay\nAfter helping to kick off the BNPL trend in Australia, Afterpay came to the U.S. market less than three years ago with a focus on interest-free offerings.\nAfterpay is \"not trying to upsell someone credit,\" Co-Chief Executive Nick Molnar told MarketWatch, and the company has been \"purposefully focused on the couple-hundred-dollar purchase\" thus far.\nThe company charges a late fee after an initial grace period for consumers who fall behind on payments, and it cuts customers off from making future purchases until they pay back what they owe.\n\"Unlike a finance company that wants you to be late...with Afterpay you can't keep shopping\" after missing a payment, Molnar said. That dynamic fosters a better relationship with customers, in his view.\nAfterpay's North America merchant base grew more than 150% in the latest quarter relative to a year earlier. In the U.S., underlying sales, or the value of items purchased through its service, increased 211%.\nThe company now works with 23,000 retail brands in the U.S. including Bed Bath & Beyond Inc. $(BBBY)$ and Lululemon Athletica Inc. $(LULU)$. A recent partnership with Stripe made it easy for that company's merchants to easily activate Afterpay as a checkout option.\nThe company may process 10% to 30% of transactions for its retail partners once enabled as a payment option, Molnar said.\nAfterpay is building a presence beyond the checkout button, with 17% of purchases globally during the month of February originating from Shop Directory, meaning that these customers are locating merchants through Afterpay's app or site.\nWhile Afterpay is relatively new in the U.S., its success in Australia \"puts into perspective where Afterpay can expand as a business,\" Molnar said. In Australia, 25% of volume comes from in-store purchases, and consumers can pay for things like dentist visits using the service.","news_type":1,"symbols_score_info":{"AFRM":0.9,"CRCT":0.9,"TERN":0.9,"V":0.9,"APT.AU":0.9,"LULU":0.9,"PYPL":0.9}},"isVote":1,"tweetType":1,"viewCount":2745,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}