The State of Embedded Finance (Q1 2025)
April 10, 2025
The State of Embedded Finance (Q1 2025)
From BNPL baked into payment rails to co-branded cards reshaping loyalty—Q1 2025 was a turning point for embedded finance going deeper and broader across industries. Payments are becoming optimised at checkout, layered with loyalty, and embedded across physical and digital channels. BNPL is being natively built into payment rails, marketplaces, and even operating systems. Meanwhile, modular infrastructure models like BaaS, CaaS, and IaaS are letting platforms embed cards, savings, insurance, and wealth tools with minimal overhead. WhiteSight’s latest report dissects the quarter’s most defining developments—across embedded payments, lending, insurance, and infrastructure—exploring how businesses across sectors are building financial products into the fabric of user experiences.
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Description
The key questions behind the biggest embedded finance moves this quarter:
- What role are payment rails and BaaS players playing in scaling embedded lending and card programs?
- Which sectors are using co-branded cards as a new loyalty engine—and what are the top launches of the quarter?
- What’s driving BNPL’s next wave—from luxury cruises and flights to gaming and food delivery?
- How are brands embedding insurance and wealth tools directly into user journeys?
- Where is investor capital flowing in embedded finance—and which infra players are winning?
The infrastructure is here. The playbooks are forming. The winners are moving fast.
Download the report now—your embedded finance edge for 2025 starts here.
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