Buy now, pay later kills off ME's credit card plans
ME chief executive Jamie McPhee said the arrival of buy now, pay later schemes such as AfterPay Touch have fundamentally disrupted the market and forced the bank to scrap a planned investment in credit credits leading to a $14.4 million write down.“I don’t think my daughters will ever own a credit card. They will have a debit card and a buy now, pay later account,” Mr McPhee said.
