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Affirm shares soar on news of Amazon partnership for buy now, pay later
- slang800 5y agoOffering loads for a $50 purchase is grossly irresponsible. It's bad for the customer, since they risk getting fees for missed payments and will likely be charged interest on the loan. By offering this as an option, retailers are preying on people who are in such a bad financial position that they do not have savings and cannot qualify for a credit card or have maxed out their existing credit cards.
- jtsiskin 5y agoYes in the press they will paint this as "this will allow that single father to buy diapers even if his payday next week" but in reality I'm skeptical. I guess I would need to read some studies
- unanswered 5y agoYou are suggesting "let them eat cake".
- hakfoo 5y agoThis seems like a feature rather than a product. Someone putting together a Visa/Mastercard branded product with a similar "pay in N installments" model could easily outcompete them. You wouldn't have to negotiate entry with every merchant and develop new integrations-- it would just drop into the existing credit card infrastructure.