These short-term loans for everyday things are so friggin’ predatory, man.
So like even the bnpl industry, I mean it’s all hot potato, in an exploding debt class with no resources and layoffs at any time that unsecured debt is just a time bomb.
US cc debt is highest it’s ever been and far surpassed great recession.
I was at a coffee shop a few months ago and was fucking floored when the square pad or whatever asked me if I wanted to take out a loan [BNPL] for my $4.25 mocha
Walmart also partnered with Klarna if that means anything to folks reading this. I’ve seen for years companies like Affirm (AFRM) being backed heavily by Shopify (they have exclusive deals at this point and AFRM is one of Klarna’s direct competitors). The BNPL universe is coming for everything, including basic necessities like food now I guess. Affirm is also close with Amazon.
If you turn it on its side it’s a tunnel.
- https://finance.yahoo.com/news/walmart-klarna-deal-impacts-affirm-182005254.html (to be clear I’m linking to a financial jargon article to illustrate how fucking insane it is to offer BNPL (buy-now-pay-later) services for any level of retail, not just food delivery like Doordash ffs)
