If you’ve bought anything online in the last few years, you’ve probably heard of Afterpay. You may even be a frequent user of the platform, putting purchases on Afterpay frequently and with wild and reckless abandon. But have you ever stopped to consider the potential dangers of buy now, pay later?
Buy now, pay later company Afterpay is expanding its services to include healthcare, but the move has raised fears it will leave financially vulnerable patients exposed to creeping out-of-pocket costs.
Flexigroup, the originator of ‘buy now, pay later’ in Australia, has announced its new payments platform, Humm, will now be available across several additional major retailers.
From January 2018 to 2019, 1.59 million Australians used ‘buy-now-pay-later’ digital payment methods such as Afterpay and Zip, according to Roy Morgan Research.