ACCC flags greenwashing and scams as areas of concern in 2021 annual report review
On Tuesday, the ACCC attended the standing committee for economics for a review of the commission’s 2021 annual report. Here are four key takeaways from the session.
Shopping in the metaverse: Research says 52% of Aussie consumers would give it a try
Australian consumers are more willing to shop in the metaverse compared to their counterparts in US and parts of Europe, according to research released this week by BigCommerce.
Pay day: What payment options should you offer your staff?
Offering your staff a real-time earned pay access option allows your business to contribute to your employees’ financial and psychological wellbeing.
Zip counters $1.1 billion loss with claims of reduced cash burn and tighter BNPL lending rules
Zip claims the closure of its UK and Singapore offices, the "retirement" of Pocketbook, and a crackdown on bad debts will help turn the ship around.
Sydney fintech Hello Clever bags $4.5 million in seed funding, as it pits ‘buy to earn’ model against BNPL
Hello Clever has completed a $4.5 million seed funding round, driving its plan to lure millennial and gen Z shoppers away from buy now, pay later services while pioneering the use of Australia's new PayTo technology.
Afterpay, humm and LatitudePay warn customers after spike in BNPL scams
In an email to customers on Monday, Afterpay said it was “aware of recent increases in fraudulent phishing text and email activity” across the industry.
Up bank launches Maybuy, the automated payments plan for young Aussies stressed out by buy now, pay later
In response to some sobering statistics on the way BNPL shopping makes customers feel, Up bank has launched Maybuy, which automates instalment payments before purchasing an item.
Adam Schwab: BNPL has become an industry of meme stocks worth basically nothing
In five years, we will look back fondly on the BNPL sector much like we reminisce on the follies of the mid-2000s bubble like Babcock & Brown or Allco, or the dot com insanity of 1999, says Adam Schwab.
Australian BNPL sector touts $14.3 billion in economic benefits as lawmakers weigh the fate of pay-in-four providers
As Australian lawmakers consider how best to regulate the BNPL sector, a leading industry group claims pay-in-four systems provide a massive boon to local retailers and benefit local consumers.
Afterpay: BNPL is better for consumers than credit cards, and it can’t be regulated in the same way
BNPL doesn’t work like a credit card and it therefore shouldn’t be regulated like a credit card, says Afterpay VP of global regulatory affairs Michael Saadat.
Renewable energy BNPL provider Brighte lays off 15% of staff amid severe market turbulence
Australian fintech Brighte says market volatility influenced its decision to lay off 32 staff members, but bad debts affecting the broader BNPL sector were not a pressing concern.
What Apple’s BNPL product means for its users, and how the company benefits
With the launch of Apple Pay Later, the world's largest tech company is trying to consolidate its foothold in the world of consumer finance, and increase its profitability.
