Reported about 6 hours ago
Some customers of Australia's Afterpay have been instructed to close their buy-now-pay-later (BNPL) accounts to qualify for mortgages, only to be offered credit cards afterward. This has raised concerns about the treatment of BNPL users amid increasing competition in consumer finance. Afterpay, which dominates the BNPL market in Australia, claims that such practices are based on misconceptions about the financial reliability of BNPL users, as a new legislation requiring credit checks on borrowers is set to take effect.
Source: YAHOO