So now apple has their own buy now, pay later program through Apple Pay. If this trend doesn’t tell you that our country is in deep financial trouble then you need to do some reflecting. People are buying pairs of jeans they can’t afford because they’re able to get micro-loans at the click of a button. This is not going to end well.
Discussion
These services move the chargeback risk from the merchant to the microloan provider. I think this is actually a beneficial service for businesses.
At least until Bitcoin fixes it.
It’s definitely beneficial for businesses, especially since it allows for consumers to buy more goods at any time they want. But for consumers it can be extremely dangerous. If you have to get a micro loan to buy clothing, toys, or non essential goods, you probably shouldn’t be buying them in the first place.