Am I being simple, or does it all come down to one simple thing - KYC? Making account opening easy has been a desire of banks for many years, so that they can gain clients, but they attract fly-by-night accounts such as Jane, who use this easy-to-open-an-account to scam people. Surely the responsibility for reimbursing the losing party sits with the Payee bank for allowing the scammer to open the account.
12 Aug 2022 07:38 Read comment
This looks like a classic 'How to lie with statistics'. What is needed is a true comparison of card usage. Do people in the UK use their cards more often and for larger sums than their European counterparts? Cash is certainly king in a number of European countries. Without a proper comparison this study should be taken with a pinch of salt.
04 Aug 2022 10:57 Read comment
As someone who has a secure PC at home, I will not use mobile banking until my phone company can offer the same level of security. I also do not need to access my bank account more than once per day and, therefore, find the app unneccessary.
27 Jul 2022 09:52 Read comment
It is not a fabulous product. It is a competitor to credit cards which is easier to use, but has siginifcant consequences if you default, similar to credit cards. The real cost is to the retailer. I am unsure if retailers will accept these costs in the long term. It has worked to date because Covid has changed the playing field. Credit card companies have stronger tests on affordability than BNPL companies, which is why the defaults are much lower on credit cards. BNPL is contributing to spiraling debt in many families because it is so much easier to take on the debt.
15 Jul 2022 15:01 Read comment
Is the four CEOs in one year factually inaccurate? If not, there is definitely something wrong within the company.
14 Jul 2022 11:46 Read comment
After four false positives using a VISA card I stopped using the card and moved to a Mastercard. I did not blame the business, but the fraud protection by the bank or VISA. I also found that Mastercard were very quick to discover a cloned card using my details and stopped it within minutes.
05 Jul 2022 08:00 Read comment
It is announced this evening that the market valuation of Klarna has dropped by 85%. I wonder why?
01 Jul 2022 23:01 Read comment
You are assuming that people using BNPL are clever enough to do this. I do not believe that the great majority are. Most are using the facility to short term borrow. Someone is paying the BNPL provider. If not the borrower, then the merchant. Nothing is free.
30 Jun 2022 10:42 Read comment
BNPL is a credit crisis waiting to happen
24 Jun 2022 16:15 Read comment
Still overpriced
20 May 2022 13:46 Read comment
Cristian VladManaging Director at Consult Services Ltd
Ian Hillier-BrookManaging Director at MCO Europe
Prateek SaxenaManaging Director at Appinventiv
Sergei ArtimeniaManaging Director at RNDPOINT.com
Dirk EmmingerManaging Director at knowing finance
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