Afterpay -- What's The Dealio With Buy Now, Pay Later Apps ?
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What are Buy Now, Pay Later apps and why are they popular?
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Welcome to the Australian Finance Podcast, a podcast for people who want to learn more about their personal finances and get the most from their money. This series is hosted by Kate Campbell from HowToMoney and Owen Rascovitch from Rask Finance.
The Australian Finance Podcast is provided for educational purposes only. The information is general in nature and does not take into account your needs, goals or objectives. What that means is the information does not apply to you specifically.
How does Afterpay work and what are its features?
So consider getting the advice of a licensed and trusted professional before acting on the information.
kate welcome back to the next episode of the australian finance podcast yes great to be back and today we're going to be talking about the flavor of the month in terms of podcast topics buy now pay later the pros and the cons okay so a common example of a buy now pay later is after pay zip pays and hum that i hadn't heard of today yeah they're popping up everywhere have had debates with a lot of people either side of the buy now pay later and debate debate yeah it's okay a contentious topic it is and I've debated for and against over the last couple of years and I've changed my mind
Oh, really? Yeah. Interesting. It's a show of a person who has great intelligence. I'm just making this up on the fly. That can hold two opposing thoughts in their mind at the same time. So Charlie Munger, who's one of the world's famous investors and Thinkers had that view that if you can hold two opposing thoughts in your mind at the same time and debate them both with yourself, you'll be a much more intelligent person. And it's what lawyers do all the time, right? Because they have to know what their opponent's going to say. Naturally, he was a lawyer. Got to be your own devil's advocate. That's it. So respect for you. Okay, back to the topic at hand. Let's get stuck in. So we're going to talk about, we're going to do an overview of the apps and don't like hold us to any of this.
What are the pros and cons of using Buy Now, Pay Later services?
Like if you've got an after pay debt or something like that and you hear something here and we say something, go read the terms and conditions or speak to the financial counselor.
Because this stuff could change at any time.
It could, yeah. And then we're going to talk about the good, the bad, some regulation and kind of our thoughts on it. Okay, so do you want to do the overview or do you want to do the overview?
You go for it.
Okay, so I'm just taking a lot of this stuff from something that was written on our website, RAS Media, by a guy named Will. Will gave an overview of each of the apps. And we'll start at the top. We'll start with Afterpay, which is by far the biggest one.
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Chapters
8 chapters
1
What are Buy Now, Pay Later apps and why are they popular?
0:00–1:56
2
How does Afterpay work and what are its features?
1:56–3:37
3
What are the pros and cons of using Buy Now, Pay Later services?
3:37–4:58
4
How do Buy Now, Pay Later apps impact consumer behavior?
4:58–6:36
5
What are the regulatory concerns surrounding Buy Now, Pay Later services?
6:36–7:31
6
How do Buy Now, Pay Later services affect the retail economy?
7:31–9:21
7
What are the psychological effects of using Buy Now, Pay Later apps?
9:21–10:40
8
What advice do experts give about using Buy Now, Pay Later services?
10:40–29:16
Speakers
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