There is a Senate Inquiry on ‘Credit and financial services targeted at Australians at risk of financial hardship’ currently underway.
One of the Inquiry’s focuses is on new trend of “buy-now, pay-later” schemes such as AfterPay, ZipPay, and Certegy and whether regulations need to be tightened.
CHOICE will be writing a submission to the Inquiry, and we would love to hear everyone’s views on these schemes. We will be calling on the Senate to ‘close the loophole’ on these products and subject them to the same responsible lending laws as credit cards or personal loans.
What do people think of these products? Your experiences and stories will really helpful in shaping our submission.