Apple, Affirm to join on “Buy-Now-Pay-Later” for Canadian purchases
$Apple(AAPL.US$ and $ $Affirm Holdings(AFRM.US$ 's PayBright are planning to launch a “buy now, pay later” program for Apple device purchases in Canada, stepping up the iPhone maker’s ambitions to offer more financial services.
Consumers worldwide became increasingly attracted by the BNPL services because of the economic disruptions of the COVID-19 health crisis. Last year, companies in the BNPL (or “buy now, pay later”) space facilitated upwards of $20 billion in U.S. transactions, and some have concluded that the growing appeal of BNPL is generational.
In tandem, payment companies have increased their push into traditional banking over recent years, which investors have rewarded with further share gains.
*Buy now, pay later is a type of short-term financing that allows consumers to make purchases and pay for them at a future date, often interest-free. Other BNPL companies include Karna& $Afterpay Ltd.(AFTPF.US$ ,& uplift& $PayPal(PYPL.US$ , etc.
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ian265 : Cool
Ahbrown : terrible scheme only to make people who aren't able to afford to buy their goods. Very unhealthy for the economy in the long run. Next sub-prime on a smaller scale
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