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16:35
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Originally posted by Wizardwiegy
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They rely on customers failing to pay back on time then charge them 19%. Afterpay charges the merchant, who is more than happy to pay a % of the sale to Afterpay in return for an increase in sales. Visa and MasterCard don't increase sales for merchants, they give customers credit to spend anywhere anytime. Afterpay specifically increases sales for merchants in exchange for a small fee, which in reality, they can add to the price of the product anyway. Thousands of these small shops are receiving orders for products from the other side of the country, from people who would never have known the business even existed. Once a year or two has passed, the stats will reveal themselves, a lot of these business will be saying, "gee, we had $50k worth of Afterpay sales this qtr"!
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None of what you have written is true. Visa and MC charge the merchant. They don't make anything from interest. Like seriously, Afterpay is not that different to Visa and MC.
