The history of BNPL:
"The single firm that did the most to bring the installment plan to the world was Singer Sewing Machines & their innovative credit plan... They were notorious for hard-sell “dollar down, dollar a week” tactics."
Singer walked so $SQ + Afterpay could run
"The single firm that did the most to bring the installment plan to the world was Singer Sewing Machines & their innovative credit plan... They were notorious for hard-sell “dollar down, dollar a week” tactics."
Singer walked so $SQ + Afterpay could run
"By the 1920s, economists were becoming aware of the growing role of mortgage finance in the American economy... “What does it mean that the number of mortgages on homes is increasing?” wondered census analysts in 1923. “Does it mean growing wealth or growing poverty?""
The rise of BNPL coincided with the rise of pawnshops! 😬
"Pawnbrokers everywhere strove to make themselves instantly recognizable to persons, including illiterate ones, desperate for quick cash."
"Pawnbrokers everywhere strove to make themselves instantly recognizable to persons, including illiterate ones, desperate for quick cash."
very interesting breakdown of the history of BNPL - for something that was so detested (seeking credit was a sign of moral weakness) to becoming a growth option for payment companies
library.hbs.edu/hc/credit/cred…
library.hbs.edu/hc/credit/cred…
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