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The Conversation
The Conversation
Aaron Gilbert, Professor of Finance, Auckland University of Technology

If it looks like debt, let's treat it like debt – 'buy now, pay later' schemes need firmer regulation in NZ

Afterpay Laybuy New Zealand

There are few stores without an Afterpay logo displayed on the door, or that don’t offer Laybuy at their online checkout. And these schemes are particularly popular with younger consumers.

But what price might these buyers be paying for the conveniences of buy now, pay later? Our new research investigated how young New Zealand adults use debt. What we found suggests greater regulation of delayed payment schemes is needed.

The rapid growth of “buy now, pay later” in New Zealand over the past decade has been meteoric. These delayed payment options are expected to make up an estimated NZ$1.2 billion of retail purchases in 2023.

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