COVER STORY: Buy Now Pay Later Debt Will Soon Hit $1 Billion. How Sustainable Is The Model?, page-78

Well I think you have forgotten the uniqueness of $7. Only a few years back there was a big backlash in the community when the government wanted to charge $7 to see a doctor - remember people were going to die because they couldn't afford to pay that amount. These are the very people who are getting charged this late fee.

Can you imagine what financial situation a person would be in if they can't afford to pay $28 per fortnight? They are then levied an extra burden of $7.