Technology

More Than Half of Americans Fear Covering Unexpected Expenses in 2025

Published

4 days ago

March 31, 2025

Rising Cost of Goods and Economic Uncertainty Create Financial Strain and Shift Payment Preferences, According to New Splitit and PYMNTS Consumer Study

ATLANTA, March 31, 2025 /PRNewswire/ — New research from Splitit and PYMNTS finds that more than 53% of consumers are concerned about affording unexpected expenses in 2025 amid rising anxiety over economic uncertainty. “Managing Unplanned Expenses: How The Pay Later Economy Fits Consumer Needs,” which surveyed more than 7,000 consumers, highlights the financial strain unplanned purchases create—especially among parents and younger consumers—and how credit accessibility sways spending and payment behaviors. These report findings are especially crucial as leading indicators point to a broad decline in consumer confidence, driven by worries over the impact of tariffs on household finances.

“From trade turbulence to market volatility, Americans are navigating a growing list of financial challenges,” said Nandan Sheth, CEO of Splitit. “Consumers are feeling very anxious at the moment, which is why we see consumers becoming more strategic in managing unplanned expenses, balancing financial stability with flexible payment options. Credit card-linked installments provide a smart way to handle life’s surprises, allowing shoppers to leverage their existing credit lines while maintaining financial flexibility. With many consumers already accustomed to using their credit cards for these types of purchases, this approach offers a seamless and responsible way to stay in control in today’s uncertain economy.”

Unplanned expenses, such as emergency car repairs (42.9%) and home repair costs (34.3%), often come with a hefty price tag. Home repairs, the most expensive category, carry a median spend of $2,112. Despite the growing popularity of Buy Now, Pay Later (BNPL), only 9% of consumers used it for emergency purchases—showing that many still default to credit cards, with 38% of Baby Boomers relying on them for emergency costs. As consumers look for more budget-friendly payment options, there’s a clear opportunity for flexible pay-later solutions that prioritize transparency and control.

The report highlights a broader trend: Consumers are relying on credit cards and alternative financing solutions to manage both emergency and impulse spending. Among key findings:

$605 is the median cost of emergency purchases over $250.50% of consumers cite the rising cost of goods as the top reason why they expect to make fewer impulse purchases this year.Gen Z is the most concerned about their ability to cover unexpected expenses at 63%.36% of consumers made an impulse purchase of at least $250 in the last three months, with a median spend of $497.33% of consumers used a credit card as their primary form of payment for their most recent emergency purchase.45% of BNPL users say knowing their purchase would be approved was a key factor in their decision to use it.48% of consumers who made their latest impulse purchase with a credit card paid it off in full at the next statement, while 30% opted for installment plans.Gen Z leads the shift toward credit card-linked installment payments, with 24% choosing merchant-offered installment plans—double the rate of older generations.

Credit accessibility continues to shape purchasing behavior. Consumers with strong credit are more likely to finance unexpected expenses, while those with below-average credit hesitate to make unplanned purchases due to limited financing options. Millennials and Gen Z, in particular, are leaning into flexible payment options—26% of millennials expect to increase their impulse purchases in the next year.

With installment plans resonating across generations—36% of non-Boomer consumers who paid by credit card for an impulse purchase chose an installment plan—it’s clear that consumers are seeking more control over how they pay. As economic uncertainty continues, flexible payment solutions will play a critical role in helping shoppers manage their financial well-being.

Yet, even as consumers navigate emergency expenses, half of shoppers made an unplanned purchase last year, highlighting the tension between financial caution and spontaneous spending. This paradox suggests that while consumers are mindful of budgets and economic uncertainty, they are still drawn to impulse buys, whether driven by emotional triggers, limited-time deals or social influence. For brands, this means balancing affordability, value-driven messaging and flexible payment options with strategies that tap into the spontaneity of consumer spending.

Methodology

The survey for the “Managing Unplanned Expenses: How The Pay Later Economy Fits Consumer Needs” report was conducted with 7,078 consumers across all demographics from January 29 to February 7, 2025.

Download the full report here.

About Splitit

Splitit is a global payment solution provider that lets shoppers use the credit they’ve earned by breaking up purchases into monthly installments using their existing credit card. Splitit enables merchants to improve conversion rates and increase average order value by giving customers an easy and fast way to pay for purchases over time without originating new credit. Splitit serves many of Internet Retailer’s top 500 merchants and is accepted by more than 1,500 eCommerce merchants in over 30 countries and shoppers in over 100 countries.

Splitit Media Contact
Danielle Poggi
Berns Communications Group
dpoggi@bcg-pr.com

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SOURCE Splitit USA, Inc.

Technology

March Recap: 10 Top Finance Press Releases

Published

39 minutes ago

April 4, 2025

A roundup of the most newsworthy financial press releases from PR Newswire, including Rocket’s buying spree, CoreWeave’s IPO and some eye-catching economic surveys.

NEW YORK, April 4, 2025 /PRNewswire/ — With thousands of press releases published each month, it can be difficult to keep up with everything on PR Newswire. To help finance journalists and consumers stay on top of the month’s most popular releases and newsworthy trends, here’s a recap of some of the past month’s most read- and engaged-with stories.

The list below includes the headline (with a link to the full text) and an excerpt from each story. Click on the press release headlines to access accompanying multimedia assets that are available for download.

ADP National Employment Report: Private Sector Employment Increased by 77,000 Jobs in February; Annual Pay Was Up 4.7%
Hiring slowed to the smallest level of gains since July, with trade and transportation, health care and education, and information showing job losses. Small business employment also fell. For job-changers, year-over-year pay gains slowed slightly, from 6.8 percent in January to 6.7 percent. Pay gains for job-stayers were flat at 4.7 percent.US Consumer Confidence Tumbled Again in March
“Consumers’ expectations were especially gloomy, with pessimism about future business conditions deepening and confidence about future employment prospects falling to a 12-year low. Meanwhile, consumers’ optimism about future income—which had held up quite strongly in the past few months—largely vanished…,” said Stephanie Guichard, Senior Economist, Global Indicators at The Conference Board.Mesh Secures $82M in Series B Funding to Build First Global Crypto Payments Network
The round, led by Paradigm with participation from Consensys, QuantumLight, Yolo Investments, and others, was secured using PayPal USD (PYUSD) stablecoin, setting a historical precedent for stablecoin funding. With payments and stablecoins widely seen as the biggest catalyst for crypto‘s mass adoption, the funds set the company up for sustained dominance in the industry’s most promising sector. Rocket Companies to Acquire Redfin, Accelerating Purchase Mortgage Strategy
The Detroit-based fintech entered into an agreement to purchase Redfin, a leading digital real estate brokerage, in an all-stock transaction for a value of $12.50 per Redfin share, or $1.75 billion of equity value. Rocket will also end its “Up-C” structure to simplify its organizational and capital structure.Mr. Cooper, America’s Largest Servicer, Joins Rocket, the Nation’s Largest Lender
Rocket Companies also announced a definitive agreement to acquire Mr. Cooper Group Inc. in an all-stock transaction for $9.4 billion in equity value, based on an 11.0x exchange ratio. With this acquisition, Rocket will bring its industry-leading mortgage recapture capabilities to a combined servicing book of $2.1 trillion across 10 million clients, representing one in every six mortgages in America.Mortgage Rates Expected to Move Lower in 2025 and 2026
“We expect the recent pullback in mortgage rates will provide a small boost to home sales this year,” said Mark Palim, Fannie Mae Senior Vice President and Chief Economist. “While our latest forecast calls for a period of modestly slower economic growth, historically, interest rates have been the most important driver of home sales. We think mortgage rates will move even lower within the next quarter and ultimately close the year at approximately 6.3 percent…”Ramp Deepens Investor Bench, Valuation Grows to $13 Billion
Ramp AI is enabling the shift from managed financial software to truly autonomous financial operations. With over 30,000 customers less than 5 years after launching its first product, Ramp plans to accelerate product development in 2025, with a focus on expanding its AI capabilities and launching new product lines.Financial Finesse CEO Liz Davidson Named to Inc.’s Female Founders 500 List
The prestigious list honors top business leaders who challenge the status quo and tackle some of the world’s most pressing issues. Under Liz’s leadership, Financial Finesse’s market-leading safe and responsible AI won 8 tech awards in 2024 alone, including recognition for Aimee, an AI-powered financial coach that leverages the AI technology behind ChatGPT to offer instant, guaranteed-accurate answers to any financial or benefits questions.Spirit Airlines Emerges from Financial Restructuring, Better Positioned to Advance its Transformation and Enhanced Guest Experience
Spirit Airlines exited Chapter 11 bankruptcy, completing a consensual, deleveraging transaction that equitizes approximately $795 million of funded debt. As part of the restructuring, the company has also received a $350 million equity investment from existing investors to support Spirit’s future initiatives, including investments to provide Guests with enhanced travel experiences and greater value.CoreWeave Files Registration Statement for Proposed Initial Public Offering
The AI startup filed for its IPO with the U.S. Securities and Exchange Commission on March 3, listing shares of its Class A common stock on the Nasdaq Global Select Market under the ticker symbol “CRWV.” CoreWeave’s technology provides enterprises and leading AI labs with cloud solutions for accelerated computing.

For more news like this, check out all of the latest finance-related releases from PR Newswire.

Technology

Explore Developments in Modern Banking Technology on the Advancements Series

Published

39 minutes ago

April 4, 2025

Learn how improvements in technology and innovation are empowering financial institutions.

JUPITER, Fla., April 4, 2025 /PRNewswire/ — An upcoming episode of Advancements with Ted Danson will share how innovations in unified banking operating systems are helping institutions accelerate growth in a rapidly evolving financial ecosystem.

This segment will explore the need to update outdated financial legacy systems, which can hinder innovation, reduce efficiency, and limit the ability to meet shifting customer demands. The show will share how as expectations and preferences evolve, banks are increasingly adopting digital technologies that afford convenience and enhanced offerings.

With a look at Treasury Prime, viewers will see how developments in modern banking systems are helping to reduce operational burdens being placed on financial institutions, so they can adapt to ever-evolving regulatory changes and meet future needs.

Audiences will learn how Treasury Prime’s technology enables financial institutions to embed security and compliance controls directly into their operations – helping to ensure that banks can scale efficiently in an increasingly interconnected financial landscape.

“The future of banking isn’t about replacing traditional institutions — it’s about empowering them with scalable solutions that grow their capabilities while maintaining oversight and control,” said Chris Dean, CEO of Treasury Prime. “At Treasury Prime, we’ve pioneered a modern Bank OS that enables financial institutions to expand their reach through embedded banking partnerships, upgrade their payments infrastructure, and navigate an increasingly complex regulatory environment with confidence.”

Experts will share how unlike disruptive models that replace existing banking structures, the flexible Bank OS enables banks to modernize operations, while maintaining control.

“We look forward to sharing how modern banking technology is moving toward consolidated platforms that unify critical banking functions,” said Richard Lubin, senior producer for the Advancements series.

About Treasury Prime:
Treasury Prime is building the future of finance. Through its cutting-edge embedded banking software, Treasury Prime facilitates seamless connections between banks and enterprise partners, equipping them with everything they need to launch innovative financial products with a strong commitment to responsible practices. Beyond its core banking offerings, which encompass accounts and payment infrastructure, Treasury Prime also provides a robust partner marketplace, which offers a wide range of auxiliary services tailored to meet the diverse needs of bank-fintech partnerships.

For more information, visit www.treasuryprime.com.

About Advancements:
Advancements is an information-based educational television series that explores recent developments taking place across several industries and economies. With a focus on some of the major innovations responsible for global progress today, the award-winning series goes behind-the-scenes to discover and share how technology and innovation continue to drive the world forward.

Advancements shines a light on several important issues and topics, while featuring an array of cutting-edge improvements, state-of-the-art technologies, and groundbreaking environmental and sustainable solutions. Its team of writers, directors, and producers remain dedicated to consistently producing commercial-free, educational programming for viewers and networks.

For more information, please visit www.AdvancementsTV.com.

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SOURCE Advancements

Technology

Siyata Mobile to Support Rigorous “Baker to Vegas” Relay with SD7 Handsets for Critical Communications

Published

39 minutes ago

April 4, 2025

Medical teams and event personnel to be equipped with SD7 devices for world’s largest law enforcement race

VANCOUVER, BC, April 4, 2025 /CNW/ — Siyata Mobile Inc. (Nasdaq: SYTA) (“Siyata” or the “Company”), a global developer and vendor of Push-to-Talk over Cellular (PoC) handsets and accessories, today announced its SD7 Handsets will be deployed to help enable mission-critical communications during the 2025 Baker To Vegas Challenge Cup Relay.

Baker to Vegas is the world’s largest and most prestigious law enforcement relay race, drawing more than 10,000 participants, staff and spectators each year. The foot race runs from the desert town of Baker, California, known for its proximity to Death Valley, to Las Vegas, Nevada. The 2025 event, which is scheduled to be held April 5 and 6, will mark its 40th annual running.

Marc Seelenfreund, CEO of Siyata, said, “We are delighted to support the Los Angeles Police Revolver and Athletic Club (LAPRAAC), the sponsor of this great event, to ensure the medical teams and race organizers maintain critical communications across the rigorous 120-mile race route. Our SD7 devices are optimized for performance in rough, rugged terrains making them ideal for this race’s expected conditions. They are widely used and supported by first responders because of their ease-of-use and performance. Supporting public safety professionals is critically important to our mission, and supporting this event provides us with an opportunity to give back.”

Cory Davis, Vice President of Verizon Frontline, added, “The Baker to Vegas Challenge Cup Relay is an event Verizon Frontline has supported for many years, demonstrating our continued commitment to the law enforcement and first responder community. We appreciate the collaboration of Siyata, part of our robust partner ecosystem, during this event as we work together to deliver mission-critical communications over the #1 network choice in public safety.”

For more information about the Baker to Vegas event, visit https://bakervegas.net/.

About Siyata Mobile

Siyata Mobile Inc. is a B2B global developer and vendor of next-generation Push-To-Talk over Cellular handsets and accessories. Its portfolio of rugged PTT handsets and accessories enables first responders and enterprise workers to instantly communicate over a nationwide cellular network of choice, to increase situational awareness and save lives. Police, fire, and ambulance organizations as well as schools, utilities, security companies, hospitals, waste management companies, resorts and many other organizations use Siyata PTT handsets and accessories today.

In support of our Push-to-Talk handsets and accessories, Siyata also offers enterprise-grade In-Vehicle solutions and Cellular Booster systems enabling our customers to communicate effectively when they are in their vehicles, and even in areas where the cellular signal is weak.

Siyata sells its portfolio through leading North American cellular carriers, and through international cellular carriers and distributors.

Siyata’s common shares trade on the Nasdaq under the symbol “SYTA”, and its warrants under the symbol “SYTAW”.

Visit www.siyata.net to learn more.

Forward Looking Statements
This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” and similar expressions or variations of such words are intended to identify forward-looking statements. Because such statements deal with future events and are based on Siyata’s current expectations, they are subject to various risks and uncertainties and actual results, performance, or achievements of Siyata could differ materially from those described in or implied by the statements in this press release. The forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, including those discussed under the heading “Risk Factors” in Siyata’s filings with the Securities and Exchange Commission (“SEC”), and in any subsequent filings with the SEC. Except as otherwise required by law, Siyata undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. References and links to websites and social media have been provided as a convenience, and the information contained on such websites or social media is not incorporated by reference into this press release.

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SOURCE Siyata Mobile Inc.