Vig (@vig_says) “THE BNPL VISIBILITY GAP ────────────────── Open four "0% interest" plans across” — TopicDigg

THE BNPL VISIBILITY GAP ────────────────── Open four "0% interest" plans across four different apps and none of those four lenders can see the other three. Unlike a credit card, most BNPL installments still don't hit a credit bureau by default - the debt exists, but no single ledger sees the full stack. ────────────────── Aug 13: Klarna rolls out a European membership tier with rewards - the free "pay in 4" app is repositioning itself as something closer to a credit card Nov 20: France starts requiring a full credit check (the same file used for loan defaults) before approving any 0%-interest "4x" plan - regulators writing in the underwriting step BNPL apps never had ────────────────── "0% interest" was never the same promise as "0% risk." It was the one form of consumer debt built to clear the one question a credit card is legally required to ask you first.