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Fresh from their shake-up of Gen Z’s shopping habits, buy-now-pay-later firms are now targeting business payments as the next sector ripe for disruption.
In every downmarket cycle, subprime rears its head. It might not take center stage, like it did in the 2007-2008 financial crisis, but it always surfaces. When times are good, finance companies are happy to ignore the pitfalls of lending to the riskiest borrowers. When times turn bad, the problems emerge.
Carrying the mantle this time around is the “buy now, pay later” (BNPL) phenomenon. Founded in the ashes of the last downturn, the BNPL industry devised a new way to facilitate lending to consumers, swapping revolving credit for fixed installments.
At the peak, valuations discounted rapid growth. Affirm Holdings Ltd came
It seems that India's central bank is no fan of "buy now, pay later." But then, the regulators irritation with this newish fad in consumer finance is wholly understandable.
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