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05 Mar, 2023
các nhà cung cấp thu thập thông tin chi tiêu và đưa ra những chương trình marketing phức tạp khiến càng nghiện sắm đồ, càng vay nợ...
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By September, the CFPB’s first report on the business practices of the largest BNPL companies revealed that the industry’s practices were worse than initially expected. In fact, the use of BNPL increased the chances of consumers’ finances becoming overextended, meaning they had several loans on overlapping deadlines. CFPB also found that companies were collecting reams of data that could potentially turn into sophisticated marketing practices. That translates in the long run to a personalized product discovery engine, thus increasing the amount of credit borrowed in the first place.
BNPL companies, aside from overextending consumers, were running hyper-surveillance operations ripe for exploitation.
BNPL consumers already have high levels of indebtedness, overdraft rates, and reliance on alternative credit products such as payday loans.
BNPL financing is probably attractive to the people using it because it gives the illusion that they can buy something they otherwise wouldn’t be able to afford. The sections on BNPL users’ credit profiles, savings, and existing debt show that the finances of a BNPL borrower don’t improve. For example, they’re more in debt than a non-BNPL user, more likely to be delinquent on a different credit line, and have less in savings.
BNPL users also experience a “revolving” effect on their finances, meaning that they are accumulating interest by not paying off their debt balances.
Tags: finance
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