Business
Buy now, pay later has an image problem – The Australian Financial Review
A survey of community perceptions of buy now, pay later has uncovered considerable scepticism towards a product loved by those aged between 18 and 30.
Leading bankers such as ANZ Banking Group CEO Shayne Elliott and Commonwealth Bank of Australia CEO Matt Comyn believe BNPL is credit and should be regulated as such.
Chanticleer understands National Australia Bank has come across anecdotal evidence that users of BNPL have higher defaults on bank issued credit cards.
Consumer groups claim the repeal of the responsible lending laws will open the way for predatory lending.
But there is little prospect of the Morrison government broadening the National…
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