Anna Maria Andriotis
speaker
3,396 appearances
52 recordings
1 series
first heard Jul 2017
last heard Dec 2022
Anna Maria Andriotis’s voice in public audio — every appearance, attributed to the second.
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Appearances
In a rising rate environment, like the one that we're in right now,
that means that the cost for these companies to borrow is increasing in some cases.
For a while now, there have been questions around the overall sort of financial health of the consumers that buy-now-pay-later companies extend credit to or set up payment plans for.
One of the things that these companies have talked about for years now is that they are able to approve more people for payment plans than typical credit card lenders or other banks can.
And so as a result, because they can approve more people, that can result in more sales
for the merchants who offer these payment plans at checkout.
That has resonated well with merchants.
I mean, buy now, pay later plans are pretty much available at almost every checkout, especially online checkout right now from big to small merchants.
People will often see, you know, Klarna or Afterpay or Affirm available there.
In some cases with some merchants, there's two buy now, pay later companies that are available at their checkouts.
But there have been questions around, so who are these companies essentially approving?
How credit worthy are these individuals?
Some of these companies have said that they haven't been using credit reports at all.
to approve applicants.
That has been the case until recently, for example, with Afterpay.
Others, like Affirm, have said that they do use credit reports when they are available, but they factor in other forms of data as well to determine whether or not to approve
consumers for their payment plans.
One interesting finding from credit reporting from TransUnion shows that this sector has a fairly large share of subprime consumers.
So subprime consumers accounted for about 43% of shoppers who applied for payment plans or loans at retailers' checkout.
between the fourth quarter of 2019 through 2021.
Showing 121–140 of 3,396 · page 7 of 170
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