Buy now pay later (BNPL) is not predatory at all!!

I don’t understand all the hate that BNPL companies get!

They are simply offering installment payment options at checkout for people that either want to spread out the charge over time or obtain financing over longer period of time to get an expensive item.

I’ve used Affirm, Klarna, Afterpay and I LOVE it. Especially during Black Friday when all the deals happen at the same time. I just need a few weeks for my paychecks to catch up.

Here’s what people need to understand:
1. You are not getting a discount! It’s not cheaper to pay using BNPL.
2. Don’t buy it if you will never have enough money to pay for it.
3. Keep track of when those installment payments will hit your account, and make sure you have enough balance to cover those payments.

#shorts #bnpl #buynowpaylater #affirm #klarna #afterpay #personalfinance #credit #shopping #savvyabacus

ApplePay Later might be the fundamentally different BNPL, that works from a revenue perspective because it’s not designed solely for generating revenue ��

In this episode Jamyl covers:
�� BNPL’s user’s attractive financial profiles
�� ApplePay Later’s complete different business model
�� What’s next for the BNPL business model

Do you believe the only way for companies to really leverage BNPL for profitability is by making it part of their financial ecosystem strategy?

#FinTech #Applepay #BNPL

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Transcription:

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0:00 My story

1:51 Buy now pay later are loans

4:15 Merchant fees

5:50 I need installment

8:09 Buy now pay later programs will evolve

#investing #buynowpaylater #bnpl

We do not make any recommendations on whether a security is a buy/sell as every investor has different investment goals and risk profiles. The presentation of ideas from Josh Tan and TheAstuteParent are strictly for education purposes. You are advised to perform independent research yourself or seek a qualified financial adviser. We will not be liable for any losses directly or indirectly from the material. Some of the referral links in the video summary are products and services personally used by Josh Tan and they may pay an affiliate commission or referral bonus.
It is not an endorsement of the product unless explicitly stated and we will not be liable for any losses. The content in this video and any promotions mentioned is accurate as of the posting date.

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About Josh Tan:
Josh holds a degree in Accounting from NTU. In 2016, he co-founded the financial education website TheAstuteParent to provide detailed insurance plan analysis and financial planning tips.

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#creditcards #BNPL #afterpay