Aussies are ditching credit cards, buy now pay later eats market share – NEWS.com.au

Australians have driven down their credit card debt during the pandemic, with some using their superannuation early release money to pay it off, while increasingly popular buy now pay later options have eaten into market share.Reserve Bank of Australia figures released on Monday showed balances accruing interest on credit and charge cards totalled $22.5 billion in July, down 26.3 per cent over the year.
At the same time, the number of credit card accounts plunged by 1.4 million, showing some pe…

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