clare venema 2019
0000005829 00000 n See the complete profile on LinkedIn and discover Clare’s connections and jobs at similar companies. 0000005458 00000 n Before the AfterPay phenomenon hit the stores and internet, lay-by arrangements were a fairly standard component of the retail industry. Find your friends on Facebook. 0000027017 00000 n 0000008208 00000 n 0000018675 00000 n Traditionally referred to as “factoring” of accounts receivables in accounting terms, companies sell their accounts for goods or services already delivered to the consumer, to AfterPay at a discount.[2]. 0000008171 00000 n 22 Clare Venema. Furthermore, online retailers who offer AfterPay are capitalising upon this fear-based response, causing people to make snap decisions because they don’t want to feel like they’ve lost out. Studied at Northern Christian College. Afterpay has not been tested through a full credit cycle, and essentially provides unsecured credit. Any regulatory evolution to AfterPay and its peers will impede upon the user-friendly appeal to these services. Discover More > Wealth is a function of varying levels of assets and debt. By Clare Venema. People named Claire Venema. On the website’s homepage, it appears that the reward for repayments on time is the absence of late fees, stating that “you’ll only ever pay the price of the item you’ve purchased.” Furthermore, the website states that AfterPay is more likely to approve a purchase, the longer a consumer has been a responsible shopper. Clare has 8 jobs listed on their profile. 0000002379 00000 n View Clare Venema’s profile on LinkedIn, the world's largest professional community. 0000040003 00000 n 0000039653 00000 n 29. 0000007934 00000 n h�bb:�����8� (�� endstream endobj 313 0 obj <>/Metadata 211 0 R/PageLabels 208 0 R/Pages 210 0 R/StructTreeRoot 213 0 R/Type/Catalog/ViewerPreferences<>>> endobj 314 0 obj >/PageWidthList<0 595.276>>>>>>/Resources<>/ExtGState<>/Font<>/ProcSet[/PDF/Text/ImageC]/XObject<>>>/Rotate 0/StructParents 0/TrimBox[0.0 0.0 595.276 841.89]/Type/Page>> endobj 315 0 obj <> endobj 316 0 obj <> endobj 317 0 obj <>stream Here are the traps you should know about”, (2019), Mozo,, Michael Atkin, “Calls for greater regulation of buy now, pay later services like AfterPay and Zip Pay”, (2019) ABC News,, Michael Gearon, “Cognitive Biases: Loss Aversion”, (2018), UX Collective,, Saurav Dutta, “Explainer: How lending start-ups like AfterPay make their money”, (2017) The Conversation,, Sophie Elsworth, “Shoppers using AfterPay explodes but some shopper can’t pay back their debts”, (2017), Fox Symes Debt Solutions,, [1] Michael Atkin, “Calls for greater regulation of buy now, pay later services like AfterPay and Zip Pay”, (2019) ABC News,, [2] Saurav Dutta, “Explainer: How lending start-ups like AfterPay make their money”, (2017) The Conversation,, [3] Attorney General’s Department South Australia, “Lay-by agreements”, (2019),, [4] Emory Nelms & Dan Ariely,  “Why don’t people manage debt better?” (2016), Scientific American,, [5] Michael Gearon, “Cognitive Biases: Loss Aversion”, (2018), UX Collective,, [7] David Ross, “AfterPay believes a fear of credit debt by millennials will drive its global growth”, (2019), Business Insider,, [8] Abigail B Sussman & Eldar Shafir, “On Assets and Debt in the Psychology of Perceived Wealth”, (2011), Sage Journals,, [9] Kelly Emmerton, “Love AfterPay? 0000026900 00000 n As AfterPay doesn’t charge interest, it is not subject to the National Consumer Credit Protection Act 2009 and accordingly, the service is not required to comply with responsible lending arrangements. In short, these youthful online retailers have become primed at targeting “wants” rather than “needs”, to an audience that is inherently ill-equipped at debt management. The key psychological factor that AfterPay feeds rather than lay-by, is the endowment effect. ���^p'��`g�k�a�[ vA���C��n� B%C"���h栚 Z�!������A�a�9��|ul,�2�npt0K�p7��a��W� �0|`( �+0 �����A|C��o5v@��7�`~��,`� w (�*PH |`�������8��C��0382��n`Z���0�����A��/���g@u!V��9b��Sdh`����X�� {�\`���E ��y^�נ&e ��aek�n�`�Y5�rJEo���I�Փ�&�NJ�˨I����j�l���� jl��o 0000025516 00000 n This product element may encumber a necessary learning tool of self-discipline that comes with traditional lending models.[13].


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