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RBA still mulling tighter rules for Afterpay, Zip as sector booms

Sumary of RBA still mulling tighter rules for Afterpay, Zip as sector booms:

  • The RBA cited a 2019 consumer survey that found if BNPL payments attracted a surcharge, about half of respondents said they would use another payment method, 40 per cent said they would pay the surcharge, and 10 per cent said they would cancel the purchase…
  • The article said BNPL payments processed had jumped to more than $9 billion in 2019-20, with larger players experiencing 50 per cent growth in the second half of 2020…
  • However, it said the value of BNPL payments was still less than 2 per cent of the total value of Australian payments……

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