Afterpay isn't making money

Afterpay has thousands of unpaid credits.
there is tons on people who installed the app, bought for 1000$ stuff and then simply cancelled their credit cards so afterpay cannot take the money and can only hire debt collectors to try to recover the money.

debt collectors can keep up to 75% of the money recovered and they have no other power than emails, phone calls and mails, which people simply ignore.

Also only Facebook groups of backpackers are full of tips explaining how you can use the 1000$ credit afterpay and then go back home without paying.

You all understand now that afterpay is actually a terrible company business model not to mention that it makes people spend money they don't have in stuff they usually don't need.