New worries about our hospital buildings, how to buy now, pay later could fuel dependency and cold and fog hit the country in the latest headlines of the New Zealand Herald. Video / NZ Herald
Kiwis spent an estimated $1.7 billion last year on buy-it-now, pay-later services, but there are fears that payment services are fueling addiction by allowing alcohol purchases. Concerns are also growing that people
on the poverty line are using the services to pay for basic necessities such as food due to the skyrocketing cost of living. Buy Now, Pay Later (BNPL) services allow users to make purchases on credit and typically 25% of the total price is paid upfront and the rest in three timed installments. They don’t charge interest, but users can face late fees if they don’t meet payments.
Read the full story here: Buy now, pay later worries could fuel addiction as Kiwis spent $1.7 billion last year
Buy now, pay later programs should be banned.
How come this hasn’t already been covered by credit legislation? Loan sharks and doorstep sellers caught but not buying now pay later? It’s all credit so should be captured and regulated.
BNPL was initially a matter of desires. Now it’s about needs. How the hell did that happen? Buying grog on Afterpay is a shock. Also, it disrupts established banks and finance companies as they can no longer be categorized as debt. It is now most often the cost of living. And turning into payday loans.
It seems to be one of the best “credit” systems out there. But, there should be more limits on who can use it and certain purchases should be prohibited, such as alcohol, cigarettes and gambling.
– Alexander M.
Do supermarkets offer pay later programs?
– Robert S.
The Labor government wants to control everything again. First, the law on credit agreements and consumer credit and now buy now, pay later. I guess as soon as they can’t physically lock people down, they want to control them financially. In this case, we have a minister struggling to control himself leading the charge.
The government’s winning bid of $70.4million for rural land known as Ferncliffe Farms beat private sector bids because it was a “huge upfront payment” with no strings attached to mitigate risk, the Herald sources close to the process. The 95 hectare rural property on the outskirts of Tauranga town requires rezoning by the local council before it can be developed for housing.
Read the full story here: Kāinga Ora’s ‘huge upfront payment’ landed her purchase of Ferncliffe Farms
Well, that’s fine. It’s just taxpayers’ money.
– Robert B.
Just a word of advice to anyone thinking of selling land. Make sure you offer it to the government first because you’re bound to get an offer you can’t refuse.
– Colin B
Another day, another week, another public service department wasting taxpayers’ money. Another minister supports them. Absolutely no accountability, the arrogance of the civil service, both central and local, knows no bounds.
So if the rezoning doesn’t happen, they’ve bought the most expensive piece of swamp in New Zealand?
The bottomless pit of taxpayers’ money. The 2023 election simply cannot come soon enough. I would vote for plankton on this lot.
– Reposted comments may be edited at the editor’s discretion.
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