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Affirm and Afterpay are reevaluating their loyalty strategies, shutting down their existing rewards programs as the industry shifts toward paid subscription models.

In this edition, I’m going to look at Brex’s latest round of layoffs, the state of fintech investing in 2023 and more! For spend management startup Brex, this was the case for its employee headcount. As things have come down to earth, Brex is attempting a reset, announcing this week it cut 282 employees, or nearly 20% of its staff, in a restructuring.

As buy now, pay later (BNPL) firms look to drive profits beyond the small cut they take of each transaction, Klarna is the latest to turn to a subscription…

/PRNewswire/ -- Klarna, the AI powered global payments network and shopping assistant, today announced its entry into the subscription service model with the...

The company also has a new welcome offer for subscribers, saving them $8 on their first Klarna Plus purchase. “Our research indicates that dedicated Klarna users are looking for an enhanced shopping experience through a subscription model,” said David Sandstrom, Chief Marketing Officer, in a statement. “Klarna Plus addresses this demand, allowing us to deepen our engagement with 37 million loyal U.S. consumers, while also further diversifying a portfolio of payment and shopping solutions.”