Opinion Gerard Brody, CEO Consumer Action Law Centre
The boom of buy now pay later at popular retailers has been touted as a win for business and consumers alike. But at a time when Australians already have record levels of household debt, is buy now pay later just adding to debt problems?
Image: iStock (funky-data)
Savvy online marketing towards millennials and instant approvals have made buy now pay later an enticing option for Christmas shoppers. Recent reports suggest that 5% of all online retail sales and 20% of online fashion sales are now processed using Afterpay, which is Australias most popular buy now pay later provider. People are racking up debt through these kinds of services at breakneck spe…
Read the full article at: https://www.canstar.com.au/savings-accounts/opinion-afterpay-buy-now-pain-later/
