Afterpay: Consumer advocates fear 'instant approvals' will cause serious financial hardship

A digital payment app called Afterpay has been growing increasingly popular amongst millennial shoppers and big-name retailers. But consumer advocates have warned that Afterpay promotes irresponsible spending with its "Shop now, take now, [re]pay it in four [instalments]" proposition.

A digital payment app called Afterpay has been growing increasingly popular amongst millennial shoppers and big-name retailers. Source: Supplied