The industry says it’s providing a line of credit to people with nowhere else to go amid financial pressures,but advocates say it’s a legislative blind spot.
Wilkie Creek coal mine was meant to revive the fortunes of Simon Raftery’s private credit firm. Instead,he lost colleagues,his house and became entangled in multiple court battles.
After a meteoric rise,Simon Raftery had a Sydney waterfront home worth millions and an impressive list of clients around the world. Then some of his big plays started to come undone,exposing the opaque but booming world of private credit.
Buy now,pay later (BNPL) companies say they will consider improving access to hardship support schemes and be clearer about how they can assist vulnerable consumers.
At least one financial institution asks a question that is irrelevant and inappropriate. In fact,it’s downright invasive.
Australians have been warned about using increasingly popular “pay advance” services over concerns they may be exposing themselves to excessive debt and unregulated products.
The pay-on-demand fintech company is the ASX’s latest newcomer - but did not receive a warm welcome.
“Nobody likes waiting” is the slogan salary based buy now,pay later startup MyPayNow broadcast across prime time television as a sponsor of top rating show Married At First Sight.