That's not a feature young adults that want credit would even think about. I'm concerned with today's changes, making young adults follow the same process as credit card sign ups.
Think about how many CC applications get rejected. Compare that to the last decade of easy BNPL credit for people in need. It's going to be tough now and there is no difference in the process for applying. Same tough requirements.
Young people are not thinking "Gee I really need a virtual one time credit card number" when signing up for new credit. They just want credit. It would be easier to just sign up with their own bank's CC than it is to apply for a Zip or Afterpay BNPL account.
As a Zip stock holder, I think we should be realistic about the negatives facing AUS BNPL and Zip Australia. Can't pretend everything is great like the Afterpay guy is doing today. He's dreaming pretending this is great news. This is HORRIBLE news and we'll start hearing more complaints from young people now, blasting all the BNPL in Aus for rejecting them.
Today marks the end of easy credit for Aus BNPL. I know you're really shedding a tear behind the keyboard Mike. End of an era for Aus BNPL. Now just another glorified credit card company
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