Pay Later Service

It seems CBA launched a pay later service similar to Afterpay called Klarna. Given that Xinja is in market to help people out of debt and the fact you don’t offer credit cards, what are your thoughts around helping your customers have a similar service in the future or now lol? I find myself using AfterPay a lot and it would help to have such as service from a product perspective


credit cards,
zip pay
are all forms of credit, just rehashed slightly and sold as something new.
they wont help you get out of debt, especially as most people in this forum cant think beyond 5 mins about their finances and all want AI to pretty much control everything.

there is good old fashioned layby. yes it still exists…you just dont get the instant gratification of having your item instantly.

im in favour of credit cards more than anything, at least these are catered towards people who know how to handle finances. you look after these well, and banks throw all the deals at you.
my credit cards provide an afterpay like service, equal fixed payments up to a year for zero interest, just an establishment fee, so its not just cba…however these are all still traps to get you into debt, not out of it.


An establishment fee still means you end up paying more for the product, than the advertised price. Whilst I don’t use AfterPay, I think the business model is brilliant because they make their money from the merchant, not the customer. The merchant is happy with the arrangement because it’s still a sale that they wouldn’t have made otherwise.

1 Like

Not everything can be lay-buyed. Credit is money you don’t have but have access to. Pay Later is money you have now and have calculated you will meet the outstanding amount. There is a clear difference that you anticipate the repayments and can’t exceed a certain amount; most of the money is less than $1000 or just a little above. Meaning the potential risk compared to a credit card is low in terms of debt

1 Like

Not really correct. Afterpay charge a merchant fee of 6%, which is the highest out there. That’s why Klarna reckons Afterpay’s fee structure is not sustainable. Also, Paypal is a payment platform and their fees are no more than 3%, which is still half that of Afterpay. eBay is an ecommerce platform, not a payment platform, and yes, eBay’s fees are a complete rip-off.