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Millennials can use installment plans for t-shirtsI found this...

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    Millennials can use installment plans for t-shirts


    I found this today:

    https://www.omaha.com/news/trending/cash-strapped-millennials-are-turning-to-app-powered-installment-plans/article_640a83a8-f1ec-5f66-a890-399b7386cc2d.html


    I very much like this article:


    "Afterpay Touch Group caught on quickly with Australian millennials, many of whom abandoned credit cards after the 2008 recession. Founder Nick Molnar was a teenager when the crisis hit and understood intuitively that his contemporaries would approach credit differently from their forebears.The company charges no interest, instead collecting a fee of as much as 6 percent of a sale from the retailer. Afterpay works with 20,000 merchants globally-including 1,000 now online in the U.S. where the company has signed up Urban Outfitters, Anthropologie and Free People. Based on its recent monthly performance, Afterpay says it has a global sales run rate of more than $3 billion a year.Afterpay is betting American millennials will be just as keen on its service as their Australian counterparts. The company says 65 percent of the U.S. cohort don’t have a credit card, are 30 on average and are intrigued by using installments to pay for merchandise. Leslie Parrish, a senior analyst at researcher Aite Group, says the simplicity of installments is at the heart of the appeal. “You know precisely when you’ll pay off that loan,” she says. “That gives you more discipline.”



    AFR go to...!


 
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