Australians increasingly use buy now, pay later services like Afterpay and Zip for essentials, with low-to-middle income earners at risk.
Australians increasingly use buy now, pay later services like Afterpay and Zip for essentials such as groceries, fuel, and dental bills, financial counselling services report. Low-to-middle income earners are most at risk, with some not viewing these services as debt. While they offer benefits, buy now, pay later products aren't regulated like credit cards, leading to potential traps for users.
July 25, 2024
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