Walmart-backed fintech 'One' introduces buy now, pay later as it prepares bigger push into lending
Walmart-backed fintech 'One' introduces buy now, pay later as it prepares bigger push into lending
One's expanding role at Walmart raises the possibility that the company could force Affirm and others out of some of the most coveted partnerships in retail.
Just what Americans needed, more ways to go deeper into debt.
Even worse, Walmart crap will be in a landfill before the customer is done paying it off.
The credit cards are all maxed out so now they need BNPL. The economy is propped up on debt.
Layaway is starting to be offered everywhere...
You can put a pizza delivery on a payment plan. This shit is going to crash hard.
I'm just surprised Walmart isn't also doing rent-to-own while they're being predatory on the poor.
Predatory loans? Wally-World has gotcha covered.
First Apple, now Walmart. Looks like every CEO is looking to tank their company through finance just like their hero Jack Welch did to GE.
Shit should be illegal. Bring back laws against usury
Sorry, we can only make laws directly out of the Bible when it is against women's body autonomy, not usury. Well, usury is in the Bible and abortion isn't (other than how-tos), but you know what I mean. I have read neither the Bible nor the Constitution but I will absolutely claim they call for specifically the laws I want and ignore any part that calls for the opposite of what I want.
Sincerely, Every Republican, top to bottom
I'm gonna regret not taking out way more debt than I can ever afford to pay off when the government erases loans for the millions of folks who are falling for this, won't I?
Nah, there will probably be a bipartisan compromise passed to bailout WalMart by buying this debt for the sake of "the economy" and then authorizing the government to start collecting on it by garnishing people's paychecks and social security payments and food stamps for the sake of "the deficit"
Dude gen z and alpha are so fucked.millenials got debt screwed so hard it's created a whole industry around pushing easy to get loans and after pay and klarna and 0 interest rate credit and and and. Debt is literally required to live for most Americans and it's only going to get worse.
How long until employees are simply paid in Walmart points?
Or their paychecks have whatever they currently owed automatically deducted... requiring loans to make it to the next check.
Oh oh! I've seen this episode! Before the reboot they called it "company scrip".
The theme song was a banger too!
The line "another day older and deeper in debt" from the chorus came from a letter written by Travis's brother John.[2] This and the line "I owe my soul to the company store" are a reference to the truck system and to debt bondage. Under this scrip system, workers were not paid cash; rather they were paid with non-transferable credit vouchers that could be exchanged only for goods sold at the company store. This made it impossible for workers to store up cash savings. Workers also usually lived in company-owned dormitories or houses, the rent for which was automatically deducted from their pay.
16 tons and what do you get?
I assume they'll encourage their employees to take out loans...
You stock 16 shelves,
and what do you get?
I just wish I could find a real replacement to Simple, my favorite bank ever.
They got bought by BBVA, things were fine for a while, then BBVA forced us off Simple and onto BBVA crap, then sold to PNC, which is when I finally moved over to One, at the time it was small but had some cool features. Then they sold to Walmart and the features got stripped out, the security got worse, the app now sends me bullshit notifications daily. Ugh
You just described what I’m going through 100%.
Capitalisms transition to neo-feudalism has been accelerating rapidly. Fun fact, amazon has their own intillegence division stocked with pinkertons and ex military.
might be interesting to see what "always low low prices" looks like from the financial lending perspective....
"Always a high high interest rate. Always."