Jack Lilley: FinCap Senior Policy Advisor on Afterpay allowing users to use their service for groceries and fuel
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Jack Lilley: FinCap Senior Policy Advisor on Afterpay allowing users to use their service for groceries and fuel
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Concerns are being raised now that people can put groceries and petrol on Afterpay.
The popular buy now, pay later scheme is allowing people to buy petrol and grocery items up to $500 without an up-front payment – to be paid back in instalments.
FinCap Senior Policy Advisor Jake Lilley told Andrew Dickens it is a real worry for financial mentors.
He says people are desperate to make ends meet and unfortunately schemes like this can put people in a cycle of debt.
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