‘Love-hate relationship’: Retailers hit by the Afterpay effect

I’m a child of the 80s and so growing up included mixed tapes, slap bracelets, Rubik’s cubes, listening to Wham! and layby.
Yes, layby. A girl has to pay for her rah-rah skirts somehow, so I’d put down an initial $10 and get the precious fashion item put aside and then return to the store each week until I had eventually paid the balance off and was able to take my skirt home to twirl to my heart’s content.
It all seems very quaint and laborious in an age of credit cards and market darling Afterpay.
Afterpay works by enabling consumers to purchase items through a layby-like process of four payments over an eight-week period, the clincher is you get to take your purchase home straight away before paying off the balance electronically. Sydney Monring Herald – Read more…