Daily Price Movement / General Discussion, page-40452

BNPL is a system that is spruiking the mantra as an alternative to the broken and unfair credit card system, preying on the financially illiterate and most vunerable encouraging them to spend money they don't have and now many are having to go without food in order to service BNPL debt.

Its ironic while spruiking the broken and unfair credit card mantra Zip simultaneously is charging $4 platform fee on $50 purchase equating to an annualised 100 percent interest

What goes around come around and bad debt rates are increasing exponentially and it's not cost effective to chase debtors for such small amounts.

As more and more people get into unmanageable debt the negative word of mouth will ensure growth metrics slow and any Ponzi scheme that constantly relies on new vulnerable customers cannot survive.

BNPL is not Ponzi but operates on similar principles