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Forum » Aussie Brahs can we discuss Afterpay?
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Thread: Aussie Brahs can we discuss Afterpay?

post 1644278113 08-04-2021, 06:05 PM
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Aussie Brahs can we discuss Afterpay?

Afterpay just sold to Square for 29 billion.

Saw a 60 minutes Australia episode on it a few months ago and after research saw it was booming over there.It basically looks like a digital lay away from the 80s and 90s here in the US which fizzled out when credit cards got more and more popular.

Looks like just another way for people to buy stuff they can’t afford. Am I wrong?

Why is this payment processor so popular? How did it spread so rapidly? Do u use it?
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post 1644279293 08-04-2021, 06:25 PM
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Originally Posted By JaundiceBiscuit⏩
Looks like just another way for people to buy stuff they can’t afford.
Yep
Originally Posted By JaundiceBiscuit⏩
Am I wrong?
No
Originally Posted By JaundiceBiscuit⏩
Why is this payment processor so popular?
People are retarded
Originally Posted By JaundiceBiscuit⏩
How did it spread so rapidly?
as above
Originally Posted By JaundiceBiscuit⏩
Do u use it?
phuck no
post 1644281313 08-04-2021, 06:54 PM
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Originally Posted By JaundiceBiscuit⏩
Afterpay just sold to Square for 29 billion.

Saw a 60 minutes Australia episode on it a few months ago and after research saw it was booming over there.It basically looks like a digital lay away from the 80s and 90s here in the US which fizzled out when credit cards got more and more popular.

Looks like just another way for people to buy stuff they can’t afford. Am I wrong?

Why is this payment processor so popular? How did it spread so rapidly? Do u use it?
It spread so fast because it gave access to millions of minimum wage millennials to expensive luxury items that they can't afford in one payment. And because in our generation everyone wants everything right now they don't want to wait. Someone earning $400 a week can't afford to buy a $2000 iPhone or $800 gucci slides. But $2000 split into 4 payments over 8 weeks they can.

And there's only interest if you miss the fortnightly payment
Fck u james
post 1644281413 08-04-2021, 06:55 PM
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i overheard normie scum talking about it and one of them said 'i think everyone does it'
post 1644281543 08-04-2021, 06:57 PM
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Originally Posted By Gringo12⏩
It spread so fast because it gave access to millions of minimum wage millennials to expensive luxury items that they can't afford in one payment. And because in our generation everyone wants everything right now they don't want to wait. Someone earning $400 a week can't afford to buy a $2000 iPhone or $800 gucci slides. But $2000 split into 4 payments over 8 weeks they can.

And there's only interest if you miss the fortnightly payment
Ok but cant u just use a credit card?
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post 1644282173 08-04-2021, 07:06 PM
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Originally Posted By JaundiceBiscuit⏩
Afterpay just sold to Square for 29 billion.

Saw a 60 minutes Australia episode on it a few months ago and after research saw it was booming over there.It basically looks like a digital lay away from the 80s and 90s here in the US which fizzled out when credit cards got more and more popular.

Looks like just another way for people to buy stuff they can’t afford. Am I wrong?

Why is this payment processor so popular? How did it spread so rapidly? Do u use it?
100% correct

It has a limit. $1500 iirc. So it’s used to buy consumer goods people don’t need that they can’t afford

Aus gov did look at regulating it not long ago, then as usual they bowed down to corporate pressure and did nothing
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post 1644282453 08-04-2021, 07:10 PM
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Its just another tool for broke people to get in more debt.
Don't know anyone successful who would use it
post 1644282493 08-04-2021, 07:11 PM
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Originally Posted By davik⏩
i overheard normie scum talking about it and one of them said 'i think everyone does it'
its cause the majority of people are knuckleheads with no detailed financial knowledge
post 1644282563 08-04-2021, 07:11 PM
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Originally Posted By JaundiceBiscuit⏩
Ok but cant u just use a credit card?
Then have to go through various bank checks and risk a high interest penalty at the end of the month. And credit cards still have a very negative aura around them here in australia.

Afterpay doesnt do any checks and there's no interest for 8 weeks
Fck u james
post 1644282723 08-04-2021, 07:13 PM
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Heard Peter Schiff talking about this, it sounds like a terrible business model.
Live & Direct from rural Iowa- GBR
post 1644282863 08-04-2021, 07:14 PM
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Originally Posted By JaundiceBiscuit⏩
Afterpay just sold to Square for 29 billion.

Saw a 60 minutes Australia episode on it a few months ago and after research saw it was booming over there.It basically looks like a digital lay away from the 80s and 90s here in the US which fizzled out when credit cards got more and more popular.

Looks like just another way for people to buy stuff they can’t afford. Am I wrong?

Why is this payment processor so popular? How did it spread so rapidly? Do u use it?
Yeah layaway/lay-buy except you take the product before you've paid your instalments. I don't think our stores offer layaway anymore really, but the incentive is that you take the product home before paying.

It's popular because it's so easy to do compared to credit cards, and there are no additional fees for the consumer - I believe the seller pays fees for it. Penalty fees are minimal too.

I've used it maybe twice to check it out and for working capital purposes. It's aight.

Square is interested in it for the platform, reach and data side of things though, not because Afterpay is such a massive earner.
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post 1644284873 08-04-2021, 07:49 PM
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Originally Posted By JaundiceBiscuit⏩
Afterpay just sold to Square for 29 billion.

Saw a 60 minutes Australia episode on it a few months ago and after research saw it was booming over there.It basically looks like a digital lay away from the 80s and 90s here in the US which fizzled out when credit cards got more and more popular.

Looks like just another way for people to buy stuff they can’t afford. Am I wrong?

Why is this payment processor so popular? How did it spread so rapidly? Do u use it?
Never used it, never will. I live within my means.
It's so popular as it kind of gives the benefits of a credit card without actually having a credit card.

They charge both ways, they make money from the companies that use Afterpay as a payment method as well as keeping the late fees. Good business model.

Share price really took off when COVID hit and lockdowns started, mostly due to increase of online shopping and the attractiveness of buy now pay later.
post 1644285063 08-04-2021, 07:53 PM
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Originally Posted By cavillac⏩
Heard Peter Schiff talking about this, it sounds like a terrible business model.
Lol this.
I call it "Celebration". It's sexual, and violent...

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