Westpac is playing with danger because Afterpay mainly attracts people who can not manage money.
There are many credit cards that have 55 day payment with zero interest. Afterpay in comparison attracts $10 and $7 late fee within the first month of not meeting repayments. Zip pay is similar.
Both late payment fees and non payment fee add up to the interest paid at 14% on $1000, so essentially the same rate as a credit card.
Your zero interest free on a credit card is better than your payment terms on either zip or paylatter.
buy now pain latter, page-40
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$1.79 |
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Mkt cap ! $2.011B | |||
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