Credit checks

Catherine* and her partner were “scrambling” to cover the cost of groceries with a newborn baby and racked up thousands in Buy Now, Pay Later (BNPL) debt to “stay afloat”. But when they couldn’t pay the money back they said the “ruthless”…

The government is being urged to increase the regulations around buy now, pay later services to protect vulnerable members of the community, including victims of domestic violence. Leading the call for change in the sector are consumer…

An Australian financial authority has torn into the buy now pay later sector for failing to help customers, especially vulnerable ones, and also not adequately assisting those who have been scammed through the service. In a submission to…

With fears that the buy now, pay later sector could be wiped out as it struggles in the current economic climate, Australian provider Zip has seen its shares plummet by 16 per cent despite finally recording a profit in the US at the end of…

Australians who use buy now pay later (BNPL) services like Afterpay and Zip could be in for a rude shock as banks crack down on their lending policies. This week, two Australian banks informed brokers that customers’ use of BNPL would…

Australians are hoarding $50 and $100 bank note, despite there being a huge shift in the way we spend money. There has been a sharp drop in the value of withdrawls from ATMs, which accelerated during the pandemic. The value of cash…

Australians wanting to use a “buy now, pay later” service like Afterpay or Zippay will soon require a thorough financial check similar to getting a credit card. It’s one way the federal government is considering an overhaul of the system in…

Afterpay customers could have to undergo more detailed credit checks under new regulations being considered for the buy now, pay later (BNPL) sector.Treasury is putting the finishing touches on its review of how BNPL operators such as…

Finance companies are scanning the dark web in a bid to protect Aussies who had their personal details leaked in what’s being dubbed the nation’s “worst year for data breaches”. Google searches for ‘identity theft’ in the last month alone…