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October 26, 2023
On the web
April 24, 2023
On the web
February 1, 2023
On the wires
November 22, 2022
On the web
“Afterpay and Zip have shared differing opinions on new regulatory options put forward by the Treasury will impact the buy now, pay later sector. In the Treasury’s paper, three options are offered. The first would amend the Credit Act to require that BNPL providers check that a certain product is affordable for a customer before it is offered. The second option requires BNPL providers to gain a credit licence and operate within responsible lending regulations. The third, and more strict option, would see BNPL loans enforced under the same laws as home loans, with the tighter checks this brings. Treasury is seeking consultation by December 23, with plans to legislate in 2023. Not surprisingly, Afterpay favours the first, least restrictive, option.”
October 6, 2022
On the web
“Afterpay, a leader in “Buy Now, Pay Later” payments, today introduced a new payment solution that give consumers even more choice, flexibility and time to pay, with transparent terms to support responsible spending – just in time for the busy holiday shopping season. Consumers who select Afterpay’s monthly payment option can budget their money over a six or twelve month period for purchases between $400 and $4,000 with consumer-friendly payment terms1 including: No late fees; No compounding interest with a cap on total interest owed; clear view of what is owed at time of purchase which won’t increase during the course of the payment plan.”
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