Well, in the current jobs market they should be able to find new employment, one would hope!
08 Dec 2021 08:08 Read comment
The problem is the companies are putting these people in debt. Australia’s financial regulator found 15% of BNPL users had to take out another loan to make their payments, and 1 in 5 had to cut down spending on essentials to make them. In 2019, Australian BNPL providers raked in $43 million in revenue from late fees, up 38% from the previous year. At a major U.K. bank, 10% of customers making BNPL payments overdrew their checking accounts in the same month. The authors of one study dubbed BNPL users “Generation Debt Trap.”
Some young people are beginning to catch on. TikTokers are dancing to the caption “crippling debt” after showing themselves purchasing new clothes with Klarna.
07 Dec 2021 13:22 Read comment
Apparently BNPL is liked by minorities, especially those prone to impulse buying and used a lot by them as a result.
07 Dec 2021 13:17 Read comment
"Retailer provides loans to help sell more stuff"
"Woman has baby"
06 Dec 2021 12:11 Read comment
Payday loans were regulated out of viability. Regulation will come to BNPL. Klarna appears to be wisely reducing its dependency on BNPL and is on an aggressive buying spree ahead of regulation. Time will tell on this one
10 Nov 2021 16:09 Read comment
I wonder how long will it be till the wheels come off BNPL and we see Payday loans Wonga Mk2 hitting the press? Shall we run a sweep on this?
10 Nov 2021 14:10 Read comment
https://www.citizensadvice.org.uk/Global/CitizensAdvice/Debt%20and%20Money%20Publications/BNPL%20report%20(FINAL).pdf
01 Nov 2021 10:57 Read comment
This is an interesting report. BNPL seems to target vulnerable market segments.
01 Nov 2021 10:54 Read comment
I would disagree with the statement that this is the most flexible solution in the market.... this may be true in local markets but many Middle Eastern banks have been offering sophisticated BNPL Installment loans or 'Easy Payment Plans' on their credit cards for many years. Cardholders can combine balances or convert single transactions, via; App, Call Center, SMS, or at POS. However, this is going to be how Issuing banks will fight back against BNPL players, with this technology applied to Credit, Debit and even Prepaid. Competition is good!
17 Sep 2021 09:38 Read comment
Was this put through a competetive tendering process i wonder? NI High Street Voucher Scheme: Department defends hiring firm fined for part in 'prepaid card cartel'https://www.belfastlive.co.uk/news/belfast-news/ni-high-street-voucher-scheme-21179132
16 Sep 2021 17:23 Read comment
Brendan FarrellExecutive Vice President at FIS
Laurent SchynsProgram Manager at FIS
Alvaro CabreraSales Director at FIS
Keith StantonInternational Product Manager (Fraud & Risk) at FIS
Maria SchuldHead of Regional and Community Banking at FIS
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