RBA announcement is nonsense, page-16

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TheCapatilist

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18/10/19

15:38

Post #: 40956297
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Originally posted by Andredamus1: ↑

Please clarify what "misery" Afterpay inflicts on its customers?

If I am a first time customer and I buy a pair of shoes for $200 using Afterpay, I pay $50 at the time of purchase. If I then default on my future payment obligations, I will receive a few texts and maybe a few phone calls asking me to honour the contract I entered into. If I continue to refuse to pay, I will be banned from the service and Afterpay will write off the $150 I owe them. I will not be pursued through the courts and there will be no negative implications for my credit record. I will however have picked up a $200 pair of shoes for $50.

So I repeat my initial question, what detriment have I suffered?

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I would suggest that if you have to pay for a $200 pair of shoes in four payments , then in reality you can't really afford to be buying those shoes.
I agree with ralom, it's just another vehicle that teaches people you can get instant gratification whether you can afford it or not.

APT Price at posting: $29.80 Sentiment: None Disclosure: Not Held
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RBA announcement is nonsense, page-16

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