If you are talking about Paypal entering Australia in June this year that is correct. Fatfish is setting up in SE Asia and not in Australia at present anyway. We already, as I pointed out earlier, have a retail partnership infrastructure partly in place that we need more knowledge on as well as working on their Corporate Lending up to $1mil in advances with their charges paid up front.
As I said before, we are waiting on next report to clarify what they are actually doing. . BNPL will be another payment plan and everywhere. We are starting up up in SE Asia for the moment, that is the plan. Not in Australia at present anyway.d for the common BNPL as well as working on their Corporate Lending up to $1mil in advances with their charges paid up front. I am waiting on next report to clarify if they are going retail/consumer as well now. It is not clear enough.to be making judgements yet..
With the common BNPL some providers work with partnered merchants whilst others are accepted anywhere that accepts major credit cards. So I don’t see a problem here we just need more clarification as to the working model. Paypal might even offer to pay us out. Change your fear into opportunity,
---------------------------------- Some basic notes below on the common BNPL model for anyone interested. It is too early to be judgemental on our product as we need to be updated on our product more to understand the working process.———
How does Buy Now, Pay Later basically Work for retail?
Buy Now Pay Later works in a similar fashion to layby, the major difference being that you receive your purchase upfront. Here’s how it works:Sign Up – Sign up either online or in store with a provider. In most circumstances, users are given on-the-spot approval.Purchase – Users make a purchase either in store or online.
Some providers only work with partnered merchants while others are accepted anywhere that accepts major credit cards.Payment – Users pay back what they spend in four or more equal instalments which are automatically deducted from the user’s nominated card.
As Buy Now, Pay Later business are not required to hold an ACL, membership with the external dispute resolution scheme, the Australian Financial Complaints Authority (“AFCA”) is also not required, meaning the user does not have access to the same protections in the event of a complaint as a consumer of credit products where the issuer holds an ACL.Buy Now, Pay Later entities are ever-expanding in Australia – Sophie Grace.
PayPal has announced a new buy now, pay later (BNPL) solution to launch in Australia this June.Called PayPal Pay in 4, the new payment system will be offered to consumers as an option at checkout in the PayPal wallet. Customers will be able to split eligible purchases from $50 to $1,500 over four equal, interest-free instalments. Repayments will be automatically drawn every two weeks, with no fees charged for on-time payments.Late fees will be applied for late or missed payments. There will be a late payment fee of $10 for purchases under $125, charged one time with a cap at $10. For purchases over $125, there will be a $10 late payment fee for every missed payment, capped at three – $30. “PayPal Pay in 4 messaging”, which will be able to dynamically show customers individual instalment amounts based on what they are browsing or
———What is Crowd-Sourced Funding?Crowd-sourced funding (“CSF”) is a financial service where start-ups and small businesses raise funds, generally from a large number of investors that invest small amounts of money. It is emerging as a p..
What is Marketplace Lending (P2P Lending)?Marketplace lending or Peer-to-Peer lending is an arrangement through which investors invest money that is then lent to borrowers -------------------- Some speculation here on my behalf and not saying more until further reporting from Fatfish.
FFG Price at posting:
11.5¢ Sentiment: Buy Disclosure: Held
(20min delay)