Buy now, pay later on the brink: ‘The entire market is collapsing’

Both Latitude and Humm are incarnations of conventional finance businesses. Latitude was GE Money, which still arranges Harvey Norman’s consumer finance deals. Humm emerged out of Flexigroup.

Abercrombie says that, until a couple of years ago, Humm would not do a BNPL service for under $500 because they believed it would attract people who would be poor credit risks. In a recent column, Scott Galloway, Professor of Marketing at NYU Stern School of Business and BNPL critic, points to US consumer debt jumping to record highs with BNPL playing a dominant role, but at the expense of soaring losses as bad debts and marketing expenses boomed.

“The industry as a whole, which has seen bad debts spike, really missed that moment. And we are now going to have to dig our way out of that,” she says. Everyone now recognises that it makes no difference, which means the operators’ thinking has only just caught up with long-time critics like payments veteran Grant Halverson, who heads consultancy McLean Roche.

CommBank 'error' took my home and deposit. 9months later, no redress, only cruelty. CBA really do ruin innocent people's lives.

Pay day lenders are mostly providing disservice to the society

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Buy now, pay later on the brink: ‘The entire market is collapsing’The buy now, pay later sector’s rising bad debts and losses have become more apparent after pandemic stimulus payments from the government ended last year, and investors are worried. Address what you did to rebel Wilson. APOLOGISE TO REBEL WILSON How predictable
Source: smh - 🏆 6. / 80 Read more »

Buy now, pay later on the brink: ‘The entire market is collapsing’The buy now, pay later sector’s rising bad debts and losses have become more apparent after pandemic stimulus payments from the government ended last year, and investors are worried. Address what you did to rebel Wilson. APOLOGISE TO REBEL WILSON How predictable
Source: smh - 🏆 6. / 80 Read more »

‘The return of banditry’: Russian car industry buckles under sanctionsPrices have spiralled out control since invasion of Ukraine as market struggles to adapt You couldn’t have gone with “wheels fall off”?
Source: GuardianAus - 🏆 1. / 98 Read more »