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DeepNewz, mobile.
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Affirm CEO Max Levchin defends 'Buy Now, Pay Later' products, stating concerns are exaggerated. BNPL platforms allow purchase installment splitting. Industry valued at $50 billion in outstanding debt, compared to $1.1 trillion credit card debt. BNPL accounts for 7% of e-commerce, growing 36% YoY with stable default rates.
Can't agree more with @mlevchin, BNPL now accounts for ~ 7% of e-commerce, growing 36+% YoY while default rates are stable. Consumers are winning and not paying 22% interest on at least 40% of these BNPL loans. They are paying zero... Yes they may be paying interest on 60%… https://t.co/XlXEKO8NJe
Max Levchin $AFRM on Bloomberg’s ‘Phantom Debt” story: the entire “Pay in 4” industry was $50 billion last year, average life of a loan is 3 weeks, so $3 billion in outstanding debt….this compares to $1.1 trillion in credit card debt. “Are you worried about Phantom Debt?” 😂 https://t.co/LZKgMKYv9Y
Marc LoPresti on Fox Business today @MXLESQ discusses Buy Now, Pay Later stocks surging $AFRM, $SQ $PYPL, and even $AAPL's potential in this space. #DataMatters #itsnotanoption https://t.co/n8uZzWjIEh
