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Yes BNPL is a scam. It is a Ponzi that relies on an endless...

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PigsMightFly

7,705 Posts.

2797

10/01/22

16:44

Post #: 58756610
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Originally posted by jnkmbx: ↑

While I can find something pleasant in your cynical tone and heavy handed descriptions, it should be noted that the notion of BNPL itself is not a scam. The sector may have been pumped and there may have been a rush of copy cats wanting to get in on the trend, but the product itself is simply an alternative to a high interest rate credit card with an interest free period.

It suits those who cannot successfully apply for credit cards, are not eligible for pay-day loans, or want to pay in a no-split-bills setting and collect funds from their friends later (so as not to interrupt the evening). Regulation seems to be a natural step in its evolution - I just hope that APT foresaw that before evening writing one line of code.

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Yes BNPL is a scam. It is a Ponzi that relies on an endless supply of new clients with poor credit. You even admitted that holders can't get a CC.

APT Price at posting: $72.29 Sentiment: Sell Disclosure: Not Held
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