so let’s look at a scenario.500 dollar purchase. Using quadpay...

so let’s look at a scenario.
500 dollar purchase. Using quadpay pays 125 upfront then needs to pay 125 every fortnight after that. Situation changes and the user needs to adjust their payment.
calls afterpay. Afterpay says nah we are going to charge you late fees. Bang bang bang! 25 percent of the purchase price charged in late fees!!! 25 percent or 125 dollars in penalty fees or effectively a 25% interest charge on the purchase pro rata and let’s say over 6 months. So that works out at 50 percent interest charge per year with after pay

customer realises how nasty the late fees are, signs up with Zippay. Buys a 500 item and gets five. The option of paying back per month based on what you want. It needs to be min 40 a month but can be more. Interest free terms on the 500 set of tyres is for 3 months.
customer chooses to pay back 100 a month. The first 3 months 300 is paid off and there is no 6/ month fee charged. Month 4 and month 5 a 6 dollar fee is applied costing the consumer 12 dollars in fees on a 500 dollar purchase
scenario 2. Customer realises after 2 months needs to adjust his payments. He has paid 200 and now needs to drop to min 40 a month for 3 months but knows a tax return is coming and he can pay the remaining 180 in month 6. Total fees here are 24 dollars only

scenario 3. Customer decides to pay 40 a month for the whole period. Pays off in 14 months. Interest free first 3. Charged 6 dollars for 11 months or 66 dollars
even in this scenario the account keeping fee is nearly one third of the late fees afterpay will charge you for missing your payments

you need to know what you’re getting into with afterpay. Even their shareholders have no idea!!