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"so why is klarna (ie comm bank who have 50% stake in oz and nz...

  1. PigsMightFly
    7,705 Posts.
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    28/07/20
    21:50
    Post #: 46136207
    "so why is klarna (ie comm bank who have 50% stake in oz and nz business) pushing for mandatory credit checks?"

    Broke Millennial on Jobseeker signs up for BNPL. Spends all the credit buying online. Says "Sorry, I can't repay - not even the minimum payment". BNPL writes off loss. One $1000 loss wipes out the profit of hundreds of other BNPL customers. That is why CC rates are so high. Unsecured debt is a very risky business.
    Last edited by PigsMightFly: 28/07/20
    APT Price at posting: $68.57 Sentiment: None Disclosure: Not Held
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