Accrue Savings provides payment solutions that help customers save and spend with their favorite retailers. Their main product is a dedicated wallet that centralizes incentives, store credit, and deposits, which is also FDIC insured through Bangor Savings Bank to protect customer funds. Unlike many other fintech companies, Accrue Savings focuses on enhancing customer engagement and retention for retailers by creating a savings and spending hub. They generate revenue through partnerships with retailers, who gain increased revenue and customer loyalty. Additionally, Accrue Savings offers tailored programs for customer acquisition and instant rewards on deposits, making it appealing to both consumers and merchants.

BoxGroup

Twelve Below

Centre Street Partners

Red Sea Ventures

GoodFriends

Scott Belsky

Ground Up Ventures

Gokul Rajaram

Maple VC

Tiger Global

Silas Capital

Aglaé Ventures

Michael Rubin

Michael G. Rubin

Cap Ventures

Fintech

Financial Services

Accrue Savings

Interest rates are higher than they’ve been in more than 20 years after a historic run of rate hikes by the Fed to cool surging inflation.But the campaign of rate increases is probably over, Federal Reserve Chair Jerome Powell signaled on Wednesday. What’s more, Fed officials predict they will lower the benchmark federal funds rate by three-quarters of a percentage point next year, bringing it down from a 22-year high of 5.25% to 5.5% to a range of 4.5% to 4.75%.How should ordinary American investors respond?“Your finances are all tied in some way to interest rates, and the anticipation of lower interest rates could lead to a vastly different financial landscape than we are seeing today,” said Jordan Gilberti, a certified financial planner in Baltimore.The Federal Reserve campaign of rate increases is probably over, Fed Chair Jerome Powell announced on Wednesday.Interest rate cuts should mean lower rates on home, car purchasesIf the benchmark interest rate goes down next year, borrowing rates on new car and house purchases should also come down, allowing buyers to stretch their budget. Variable interest rates on credit cards and home equity lines should also come down, easing the burden of debt for borrowers.On the investment side, the news is more nuanced. Interest rates on “high-yield” savings and money market accounts should come down, making those investments less lucrative. Rates should also fall on shorter-term fixed-rate investments, including certificates of deposit and bonds, making them less attractive.Stock prices have already soared in response to the Fed’s rate-cut news. The Dow Jones Industrial Average reached record territory this week.Stocks could fly higher if the Fed actually begins cutting interest rates in the months to come

Lower Interest Rates Are Coming. What Does That Mean For My Money?

CheapOair has joined forces with savings platform Accrue to offer consumers based in the United States a save now, buy later (SNBL) option for their travel.While buy now, pay later (BNPL) has caught on in the past several years through companies including FlyNowPayLater and Uplift, SNBL is in its infancy.A number of online travel players have recently established partnerships in the space, including Booking.com and Expedia with Monkee and Indian online travel agency MakeMyTrip with Multipl while EaseMyTrip has developed its own initiative. Research shows that consumers want flexible travel payment options, with an Amadeus study last year revealing that 75% were more likely to pay in installments in the coming 12 months, 44% were more likely to pay with credit cards, 26% would use a payday loan and 24% would use a personal loan.As the name suggests, SNBL enables travelers to save for trips and earn cash rewards along the way as they reach saving milestones or access travel offers and discounts. Accrue also enables friends and family to make a contribution to the cost of a trip.     . Get a dose of digital travel in your inbox each day

Save Now, Buy Later Gains Traction As Cheapoair Partners With Accrue

In a Series A funding round led by Tiger Global, the shopping experience platform Accrue Savings has raised $25 million in funding.

Tiger Global backs Accrue Savings in $25m Series B

Here's our roundup of the people, product and partner news from the global travel industry this week. Kayak, Southwest AirlinesKayak, a metasearch engine for travel services, has. announced its integration with Southwest Airlines, allowing its users to see Southwest fares in their search. results. They will be able to compare fare attributes, travel credit

Phocuswire'S Weekly Travel Tech News Briefs: Kakak, Southwest Airlines, Sabre And More

If you’ve planned a wedding or had the privilege of being a guest at one, you’re already aware of the substantial costs associated with such an event.The cost of weddings in the U.S. has been rising, transforming them into not only celebrations of love but also potential sources of financial strain. This trend has played a part in the accumulating debt among couples, as many resort to credit to fund their ideal weddings.The accumulation of debt comes hand in hand with the “dream wedding,” with couples today often envisioning elaborate and extravagant affairs.In 2022, the national average wedding expenditure surpassed $30,000, as reported by The Knot.A PYMNTS report highlights the growth of installment plans as a payment method among a range of shoppers. Regardless of their age or income, around 60% of consumers now occasionally make use of installment plans.Read more: 45% of Consumers Used Credit Card Installment Plans In Past YearIn August, PYMNTS reported that credit card balances had surged to $1 trillion, showcasing consumers’ growing reliance on this payment method.PYMNTS talked with Michael Hershfield, founder and CEO of Accrue, to explore how the Save Now, Buy Later (SNBL) solution, through its latest collaboration with Kleinfeld, enables brides to plan for their dream dresses without the weight of a hefty one-time expense.“Brides can spend a significant amount of money on weddings and we believe that offering this option is essential for families and brides at this stage in their lives,” Hershfield said.The underlying models of SNBL and BNPL are distinct. Hershfield pointed out that BNPL predominantly functions as a tool for optimizing the bottom of the sales funnel. Conversely, SNBL solutions like Accrue aim to operate as initiatives spanning from the upper to mid-funnel, with a primary focus on building customer loyalty

Kleinfeld Encourages Brides To Say ‘I Do’ To Debt-Free Weddings

Accrue Savings, the merchant-embedded shopping experience that rewards consumers for saving, today announced it raised $25 million in a Series A fundi

Accrue Savings Raises $25M Series A led by Tiger Global

Save Now, Buy Later platform Accrue Savings has announced a partnership with online travel agency CheapOair to help Americans travel for less and free of debt. . Based on the information detailed in the press release, the cooperation seeks to enable Americans to save up to explore the world while also avoiding unnecessary debt. Travel and Accrue Savings – CheapOair collaboration’s effect

Accrue Savings Partners With Cheapoair

Bridal and formalwear brand Allure Bridals has debuted a finance program for retailers. The program is “a first-of-its-kind program within the bridal industry,” the Memphis-based company said in a Monday (Feb. 26) press release. It is designed to let retailers make sure they have the stock they need while staving off issues caused by fluctuating cash flow. “Our goal is to show our support for our retail partners in tangible ways,” Allure Bridals CEO Kelly Crum said in a news release

Allure Bridals Offers New Stock Financing Program To Merchants

Buy now, pay later - a form of credit that allows a consumer to pay off a purchase over time in smaller installments - has taken off in the travel industry in recent years.From 2019 to 2021, the number of BNPL loans originated in the United States by five lenders grew by 970%, to 180 million loans. But that rapid growth has also raised concerns about the downsides of BNPL, including a rising number of delinquencies, consumers getting hit with late fees and their unease around saddling people with debt.Now several companies are emerging with a new business model that flips the BNPL concept on its head: Save now, buy later (SNBL).SNBL is applicable to a variety of verticals. The general. concept is that a user creates an FDIC-insured account with an SNBL platform and uses it to. save toward a specific goal, for example a future

Could “Save Now Buy Later” Take Off In Travel?

Financial technology for savings and spending

Accrue Savings

Financial technology for savings and spending

Accrue Savings

Financial technology for savings and spending

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