Are AfterPay, ZipPay etc signs of the beginning of the end ?

[Anonymous]

These systems don't really represent a new 'convenience'.

They are a strong indicator that disposable income has almost dried up.

The 'system' must keep chugging along ( people buying stuff ) or fall down in a screaming heap.

I suppose the only upside is that people who are already up to their eyeballs in debt with a few

payment defaults will be denied this 'convenience' ( for now ).

We will 'recover' from the next GFC the same way we did from the most recent one.

Millions more people will lose it all.

[michellebartley]

Zippay does credit checks, Afterpay don't. Just noticed Amazon now have Zippay.

[padi*0409]

I would urge anyone thinking of using one of the BNPL agencies to thing again, it's far too easy to get into a real money trap and find that there's great difficulty in getting out of it.

https://www.abc.net.au/triplej/programs/hack/is-afterpay-training-you-for-debt/11718410