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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

Posted on 04/11/2021 by dwliston Leave a comment

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

“There’s no hardship or protections with BNPL if you get into trouble” – True or False?

Posted on 08/10/2021 by dwliston Leave a comment

There’s a consistent theme in regards to BNPL which often pits it as a predatory consumer product that doesn’t care for its users. The reality couldn’t be further from the truth. BNPL needs its users to have a good experience for it to maintain. We thought we would take a look into the idea that “There’s no hardship or protections

True or false? “BNPL is unregulated”

Posted on 07/10/2021 by dwliston Leave a comment

Have you read a news article about Buy-Now-Pay-Later in the past year? Stupid question right? Afterpay, Zip and Klarna have dominated the news cycle for years now. More often than not, what you read is well researched, well fact checked and well written. However one statement or theme that continues to pop up is that ‘BNPL is unregulated’. We’re here

World First – Australian health insurance cards can now be added to Apple Wallet

Posted on 04/08/2021 by dwliston Leave a comment

Customers of major Australian health insurers can now add their membership card to an Apple Wallet and use it to file a claim with no contact. It appears to be a world first and just goes to show the progress and innovation there is in payments and in particular, in Australia. Medibank, Bupa, nib, and GU Health are all facilitating

Is There a Credit Card Ban for Gambling on the Horizon?

Posted on 19/07/2021 by Finn Laird Leave a comment

Good news in the gambling space as Australia takes a major step towards banning credit cards for gambling. After a QLD MP gained the support of the big four banks, it looks like a ban on credit cards for all forms of gambling may be on the horizon. It doesn’t take an in depth study to realise using credit cards

CREDIT CARDS RECEIVE 14 TIMES MORE FINANCIAL COMPLAINTS THAN BUY-NOW-PAY-LATER

Posted on 16/07/2021 by Finn Laird Leave a comment

credit cards aren't the smart way to pay

Data from a major financial regulator has found that of over 70,000 complaints in FY21, credit cards received 14 times more complaints than Buy-Now-Pay-Later (BNPL) products. This is particularly poignant when considering there are over 12 million credit card accounts in Australia and over 6 million BNPL accounts. Credit card complaints are well out of proportion. A recent Media Release

Quit the Card – 5 Strategies to Smash Your Credit Card Debt

Posted on 26/04/2021 by dwliston Leave a comment

We call credit cards the “hidden household bill”. Australians worry about our power and grocery and petrol bills but we sometimes forget how much Credit Card interest can cost. Look at the example below: Typical Credit Card Debt $3,500 Typical Interest Rate 20%p.a. Annual Interest Bill $687 SmartWayToPay That’s $687 a year in interest payments if you only pay the