Category Archives: Buy Now Pay Later

If you can’t beat ’em, join ’em – the story of NAB’s belated BNPL offering

Would you look at that! NAB becomes the latest bank to give in to the BNPL tidal wave. If you can’t beat BNPL with outdated high-interest credit cards, why not join the fray? NAB’s tilt at the BNPL market could be called a cynical play by an established bank to gather coveted Gen Z customers before they jump ship to

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Is the government going to announce a new Buy Now Pay Later Tax before the election?

Since December last year there have been reports and rumours circulating that the Federal Government could impose a new tax on Buy Now Pay Later (BNPL) users. 67% of Afterpay users are Gen Z or Millennials. This means it’s likely any new BNPL tax would  hit young people the hardest. As it stands, consumers who use BNPL apps don’t pay

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Buy now, pay later providers move into the data business – what does it mean?

black android smartphone on top of white book

We’ve written in the past about the concern of consumer groups potential risks of Buy-Now-Pay-Later (BNPL) use. We believe this risk is often overstated and the positive effect BNPL is having on consumers, under-appreciated.  Recently BNPL was once again in the crosshairs of consumer groups in an article by CHOICE ‘Buy now, pay later providers moving into the data business’. 

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GOVERNMENT’S NEW FEE ON BNPL COULD HURT CONSUMERS BY $450 MILLION AND DRIVE THEM BACK TO HIGH INTEREST CREDIT CARDS

man in blue dress shirt wearing black framed eyeglasses

The new Buy-Now-Pay-Later (BNPL) fee the federal government is considering could hurt consumers by a whopping $450 million. This is how much customers would pay if merchants passed on their BNPL fees.  This new fee will not only disproportionately hurt young people as their economic future has never been more uncertain, but it will likely result in them being driven

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What consumer groups sometimes miss about Buy-Now-Pay-Later – it’s providing consumers with a much better option than credit cards

Consumer groups are designed to provided consumers with advocacy, support and often collective power. We believe most Australian consumer groups do a great job at this. However, we believe the concern regarding potential risks of Buy-Now-Pay-Later (BNPL) use can be overstated and the positive effect BNPL is having on consumers, under-appreciated. Consumer group Choice are currently surveying their members about

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Zip and Afterpay join Way Forward to further strengthen their hardship programs

This week there was news that Zip and Afterpay have partnered with Way Forward, the preeminent Australian debt solutions charity. This partnership is set to further strengthen Zip and Afterpay’s existing hardship programs Way Forward is a not for-profit-organisation helping people in financial difficulty become debt free. They offer Australians debt advice and free financial support to help manage their

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Is the ANZ BNPL capitulation a canary in the coal mine for credit cards?

Recent news of ANZ Bank finally capitulating and announcing their own version of Buy-Now-Pay-Later could be considered the canary in the coal mine for credit cards.  At a time when Australians managed to wipe $1.1 Billion off their credit card debt in a single month, it could be argued this archaic form of providing credit could be on it’s way

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