Queen Elizabeth II has died. She was Britain’s longest-reigning monarch, serving as head of state for more than 70 years. Americans are going into debt over groceries. Some consumers are now turning to buy-now-pay-later services to buy food. The European Central Bank raises its key interest rates by a record amount to try to tame…
LIVE NOW: Queen Elizabeth II Passes Away at 96; More Consumers Take On Debt to Buy Groceries | NTD Business
Queen Elizabeth II Passes Away at 96; More Consumers Take On Debt to Buy Groceries | NTD Business
Queen Elizabeth II has died. She was Britain’s longest-reigning monarch, serving as head of state for more than 70 years. Americans are going into debt over groceries. Some consumers are now turning to buy-now-pay-later services to buy food. The European Central Bank raises its key interest rates by a record amount to try to tame…
New Zealanders Struggling With Inflation as 1-in-10 Live Beyond Their Means
Many New Zealanders are struggling to make ends meet, with one-in-ten living beyond their means and one-quarter of buy now, pay later (BNPL) users putting their purchases on a credit card, according to Consumer NZ. Gemma Rasmussen, a spokesperson for Consumer NZ, also said 40 percent of people are reporting no savings or were “deeply…
How Buy Now, Pay Later Loans Could Alter Credit
Expanding access to credit is a worthy goal. Too many people can’t get a mortgage or an emergency loan at a reasonable rate because they can’t show a solid credit history. They may pay more for insurance or make large security deposits to get utilities or rent an apartment. Recently, the three major credit bureaus…
‘Fast Path to Extreme Financial Hardship’: Consumer Groups Call for Buy Now, Pay Later Regulation
March 16, 2022
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A group of international consumer groups across 10 countries, including Australia, New Zealand, and the United States, are calling for the urgent regulation of the Buy Now, Pay Later (BNPL) sector. Australian consumer advocacy group CHOICE said new data showed that many Australians were struggling with debt from BNPL. “We are calling for governments across…
Buy Now, Pay Later Offers Illusionary Benefits: Top Finance Professional
One of Australia’s top financial advisors has called out the Buy Now, Pay Later (BNPL) sector’s business model saying its supposed benefits are illusory. In his latest report, “Afterpay: The Hype and the Reality”, Prof. Janek Ratnatounga, CEO of the Institute of Certified Management Accountants (CMA) Australia & New Zealand and a former consultant to the World Bank, said…
Commonwealth Bank Joins Buy Now, Pay Later Market With StepPay
Commonwealth Bank of Australia (CBA) has announced it will launch its own buy now, pay later (BNPL) platform, StepPay. StepPay will be competing with other BNPL platforms like AfterPay, which signed a historic $39 billion acquisition deal with American company Square on Aug. 3. Existing CBA customers will be able to use the new BNPL service…
Twitter CEO Buys Australian ‘Buy Now, Pay Later’ Afterpay for $39bn
August 2, 2021
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Twitter co-founder and CEO Jack Dorsey’s digital payments platform, Square, announced on Monday that it entered a $39 billion (US$29 bn) agreement to acquire one of Australia’s leading buy-now-pay-later (BNPL) companies, Afterpay. “Square and Afterpay have a shared purpose,” Square CEO Jack Dorsey said in a joint statement. “We built our business to make the financial…
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