By not charging interest, Afterpay and other ‘buy now, pay later’ providers avoid the rules of national consumer credit law.
- Head of School at the School of Accounting, Curtin University
Here are the four common lending practices identified by the Australian inquiry into credit and financial services targeted at those at risk of financial hardship.
Easy credit services like Zip trade on the individual’s belief that their income rise in the future.
Removing expiry dates should increase sales and give consumers more flexibility, but it could also increase costs.
Many startups now offer “instant” loans for online purchases. This business model has been around for centuries and is incredibly profitable.
On balance, computers may make better judges of risk than people.
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