4 ms·
This is terrifying. Googling this definitely raised my stomach acid levels. Who holds all the debt?
by r00fus 4y ago
This is terrifying. Googling this definitely raised my stomach acid levels.
Who holds all the debt?
- StopHammoTime 4y agoEvery single debt is underwritten individually by a originating bank. Within a few days the BNPL provider is expected to buy that debt back once the remittances to vendors have been made. The BNPL company then takes on the debt. BNPL makes their money by charging a network fee. AFAIK AfterPay charges about 7% and this is meant to cover the debt charges from the banks and administration fees.