![]() ![]() In fact, almost daily, we’re seeing the emergence of new BNPL service providers offering both B2C and B2B services. So, yes, that is for sure.ĪLLIE CANAL: Yeah, maybe, if anything, it will spur more conversations about how to handle your money.ĭAVE BRIGGS: Probably not, but I hope you're right.Klarna paved the way for buy-now-pay-later (BNPL) and now, around the world, we have plenty of choices from PayPal Credit to the newly launched Apple Pay Later. You got to talk a lot more about finances within the Briggs household. You're going to end up owing more than what you actually paid for whatever products you did buy. A lot of people don't realize that what they are putting on credit cards needs to be paid by a certain time, or else your interest is going to go up. But I also say I think you can make that very similar argument when it comes to credit cards. ![]() SEANA SMITH: -agree with what you are saying. And I totally-ĭAVE BRIGGS: This is terrifying as a parent. SEANA SMITH: No, no, I know they are too young. This compounds the problem that they have no accountability for the money. My children are teenagers, don't ever carry cash, nor a credit card. They never held that money, they held that paycheck. ![]() No interest, no fees, no impact to your credit score, and no theory, no accountability, if you're these young people- with all due respect- who have no concept of what $1 is because they simply swipe their phone and forget about it. I think they're going to take over banking.īut let me just reiterate what Seana said. By the way, you saw Affirm down 9 plus percent. SEANA SMITH: You get a lot more people using Apple Pay in that regard.ĭAVE BRIGGS: You're speaking my language. However, you do have more options for consumers and for Apple services business. So the cautious spender in me is like, I don't know if this is a great idea. And if you don't have enough cash in your account at the time of the repayment, you'll likely get dinged a fee from your bank. And even though there's no interest rates, no fees, like you said, it's not going to negatively impact your credit score, you do have to put a debit card down. I don't even know how much I'm spending on. I don't know why this makes me a little nervous because for me, when I use Apple Pay, I'm constantly whipping out my phone, tap, tap, tap. And Allie, Apple really sees a reason, sees a runway for growth here when it comes to buy now, pay later.ĪLLIE CANAL: Certainly, if you're a competitor, this is devastating news, considering the hold that Apple has in the tech space. But when you take a look at PayPal, Affirm, those stocks also took a hit on the news that Apple is entering- officially entering into this space. We're seeing some reaction when you take a look at some of the competitors within that space today. The tech giant giving it to select users first and then plans to roll it out to all eligible users in the coming months. Not everyone, though, is going to have access to this yet. ![]() But these payments are going to be split up into at least four various payments there in order to complete that purchase. And when you apply, that's not going to impact your credit. Users can apply for a loan through the Wallet app. Apple said that users can apply for loans of $50 to $1,000 and could be used for purchases made on iPhones and also iPads from sellers that are accepting Apple Pay. ![]()
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