Chart - Z1P, page-5914

Put away any idea of interest rates at 17% - since 1982 when Reagan and Thatcher opened Pandora's Box the deregulation and vast liquidity unleashed to counter leveraged borrowing will forever be on our side - that means interest rates at ridiculously low levels forever - 1%, 2% - whatever - these new bnpl models are just more holes in an unlimited credit bucket - and they work for you and me. Why pay upfront fully or on a credit card when you can defer payment over 4, 8, 12 or more instalments for free? No brainer - I use APT, ZIP and Openpay to be able to juggle over small payments which have little effect on my disposable income. If you make the credit bucket bigger, subject to reasonable checks and verification, then you're just creating a bigger business out of inevitable mass market spending. It's like when the UK had 2 tv channels - fast forward 30 years and there are 300 channels across all terrestrial and online media - making good money for straightforward jam.