Afterpay & Zippay

[Khalz]

I think it'll be really good to have zip and afterpay as payment methods, it's good for people that can't make the full payment of the games they want to buy and that way they can buy more games and pay them at a later date. It'll be interesting to see if steam decides to do it, I think it'll be a good idea, something to think about, what are your thoughts?

[76561198407601200]

I highly doubt Valve would implement any sort of payment plan for games. People fail to remember that once a game is purchased, the money gets sent to publishers/developers after x amount of time (after valve has received their cut as well). Considering the track record of some types of steam users, a payment plan will definitely result in full payment not being received for a number of reasons and would likely result in some sort of revoke or limitation on the game until full payment is received. This will of course lead to more tickets sent to support and inevitably lead to the forum posts stating "Valve robbed me, they revoked access to this game" only to find out the user stopped making payments on the game. This will be explained to them and either A) they will try to refute it or B) they will accept that answer but proceed to follow up as to why Valve should allow x amount of time extra for payment. With payment plans, developers would have to get their money trickled in instead of the game being paid outright. That combine with the likelihood of stopped/missing payments, developers would end up paying less.

[Khalz]

Yeah but the game would be purchased in full by afterpay, and it's up to the person to pay afterpay back the money. It's like a credit card but afterpay is the middle man between the person and the business. So the fact of limiting a game wouldn't be an issue because valve would get the payment in full by afterpay.

[AC]

cSg|mc-Hotsauce の投稿を引用：

mattstralia の投稿を引用：

It is a form of money management and promotes less reliance on credit card splurges which have interest, etc.
You can split the payments up over a period that you know you can budget ahead for with no extra fees or interest.

$80 becomes $20 per week per fortnight (two weeks) - making it easier for those who can budget a smaller amount per pay period rather than saving for 8 weeks to get something that may be on a limited sale.

Don't go judging those that you don't fully understand all circumstances of what real money management is about.

There are many that do abuse it and can't afford to, but that's their personal financial problem.

People should learn to manage their money rather on a service that is akin to layaway but you get the product right away.

Sales will always happen. So if you miss one, it will be on another later on in the following month.

:qr:

People should really learn to stop being so judgmental on others. Its a very ugly look.

I manage my money just fine, but I still like to use Afterpay for purchases because I may want something straight away, but paying it in 4 fortnightly interest free payments helps me to continue managing my money just fine.

[The HopelessGamer™]

If you cannot afford it, you should not have it. Learn to budget your money properly and great things will happen.

Also using zip pay or afterpay shows poor money management which could make it harder for you to get a loan. (So i have been informed, do not quote me on that one)

[mattstralia]

Many people confuse Australian credit reporting, payday loans and simple ZipPay/AfterPay apps.

ZipPay and AfterPay is essentially and upfront laybuy (or lay-away for USA) which the merchant (Steam) gets money right away, and you pay small interest free installments so you can budget better.

Splitting payments over two months is good money management, especially if you are saving money on a steam sale or other sale at the time.
If you save that same amount in the same period then buy the same product at the full price, you are wasting money - that is poor money management.
These payment apps, which are used widely around the place are incredibly helpful for money management.
There will always be people that buy more ahead than what they can afford, that's on them.

If Steam had AfterPay or ZipPay as an option, they have no risk and potentially get more sales than they would otherwise.

Making assumptions without doing research is not helpful to anyone.

Debate the issue, not your view on other people's financial choices.

For the record, I occasionally use AfterPay at EB Games, I have a good income and credit history and don't spend more than what I budget for entertainment purposes.

[spaceagesoup]

If I want to use Zip or any other instant transfers or credit based system to make a purchase, and repay that in line with the T&Cs and time frames the lender... then so be it! It has nothing to do with poor money management, as a matter of fact, Zip enables me to ensure I meet requested timeframes on payments and allows me to better manage purchases.

It should not be conflated with credit card issuers who dole out tens of thousands of dollars to individuals who cannot easily cover repayments, and end in a cycle of debt. These facilities like Zip, Afterpay, etc are tools. You can work with a hammer or you can kill, neither is up to the hammer.

[The HopelessGamer™]

spaceagesoup の投稿を引用：

If I want to use Zip or any other instant transfers or credit based system to make a purchase, and repay that in line with the T&Cs and time frames the lender... then so be it! It has nothing to do with poor money management, as a matter of fact, Zip enables me to ensure I meet requested timeframes on payments and allows me to better manage purchases.

It should not be conflated with credit card issuers who dole out tens of thousands of dollars to individuals who cannot easily cover repayments, and end in a cycle of debt. These facilities like Zip, Afterpay, etc are tools. You can work with a hammer or you can kill, neither is up to the hammer.

https://www.homeloanexperts.com.au/blog/home_loan_articles/afterpay-home-loan-application/

If you cannot afford to own something, you don't buy it, simple. Save up for it.

Using Zip or Afterpay does not show good saving skills. It instead shows you cannot afford what you have purchased so you need a third party service to help you. Budget your money instead and earn it properly.

[mattstralia]

It "can" indicate bad savings.

I can easily buy $100's of dollars of things from savings. But why would I dip into savings, which in turn reduces the bonus interest I accumulate from not making withdrawals from that account when I can simply spread payments of my normal transaction account over a longer period.
That account also has enough money to buy things outright, but I prefer to budget ahead and have smaller withdrawals.

That article is about home loans. If you've ever applied for a home loan, you would know just how deep they dive into your habits and repayment abilities. Australian credit reporting also now shows "repayments on time" which makes it easier for banks to see people actually managing their liabilities under much more scrutiny.

I'm confident if I wanted a second home loan, I'd have no trouble being approved.

You can't just grab a one liner and apply it across the board just because you've got something against it.

[Jumunji]

wuddih の投稿を引用：

video games are non-essential, a luxury. you don't need video games. if you even consider paying such types of products on a credit/loan, you have a problem.

but it is quite funny that such a request comes from down under and that you actually have multiple payment seemingly popular services that offer this.

disturbing.

Quite funny that you think you are better than Australians we can budget our money just fine as well as handle most things better than any other country Eg. Covid. So what's the problem with using a service after budgeting money for bills to buy a luxury item for yourself and no you don't pay interest

[Washell]

Jumunji の投稿を引用：

ou only pay 200 no interest and zippay only gets extra payment/ interest from late payment fees

The article linked above states that Afterpay makes 24% of its revenue from late fees. The remaining 76% will be transaction fees and interest paid by the merchant, cutting into their profit margin.

So why do merchants use services like these? One, they can offset those fees and interest (likely to be bigger than other payment processors) by raising their prices a little. Two, it generates more sales because people spend money they don't have.

You're paying interest, it's just hidden in the price of the product you're buying.

If something is free or comes for free with:
- the costs are hidden in the price
- They're selling your data to marketers
- It's a loss leader to get you in the door and sell you more expensive stuff

[joelraymond2009]

wuddih の投稿を引用：

video games are non-essential, a luxury. you don't need video games. if you even consider paying such types of products on a credit/loan, you have a problem.

but it is quite funny that such a request comes from down under and that you actually have multiple payment seemingly popular services that offer this.

disturbing.

It's quite disturbing that you don't know the definition and reason for buy Now Pay Later systems it is not for essential items it is for luxury items that is the whole purpose it has only recently been introduced into being available for essential items so at the time you posted this comment they only did luxury items now every single American company British company Chinese company Japanese company and any other country that can get involved with this payment system is and you and every other fool that is against it in this comment thread are the problem with the world today if you don't wish to use the service yourself that is fine but there are others out here in the world that do wish to use this service as payment especially here in Australia where we can not even obtain physical Steam gift cards anymore so giving us another ability to be able to purchase wouldn't be a bad idea in fact I believe that steam would see a huge increase in sales if they did it but they could just hold out as well and wait for the Commonwealth Bank of Australia who is doing a buy Now Pay Later system through your standard bank account this will mean you can use your normal bank card to make purchases on platforms such as steam I used to personally use the Steam gift cards because I didn't like to use my direct payment method through a site that has had many security breaches over the years paying through an afterpay or buy Now Pay Later system you also get the same security as buying a gift card not always about splitting it up into different payments sometimes it's more about the convenience but most Americans wouldn't understand this because everything Americans do they overdue the size of food all the way through to the size of vehicles & such Australians like things in moderation we don't abuse it like Americans and British and New Zealand if steam don't make decision soon they are going to lose out because I know of other gaming platforms very similar to steam that are signing up to these programs if steam does not they will lose out in the end because people will go where it is more convenient to buy games that was the whole purpose of steam in the first place convenience

[joelraymond2009]

The HopelessGamer™ の投稿を引用：

If you cannot afford it, you should not have it. Learn to budget your money properly and great things will happen.

Also using zip pay or afterpay shows poor money management which could make it harder for you to get a loan. (So i have been informed, do not quote me on that one)

You are so wrong before using buy Now Pay Later systems I was never able to get a car loan or anything over say $200 since using buy Now Pay Later through afterpay for the past 12 months I have increased my credit rating to appoint now that I can actually go and obtain a loan for a car or possibly even for a house so your assumption that it's bad money management and it will make it harder to get alone shows how uneducated you are on the subject get an education before you chime in on conversations that you have no idea on

[Judgmental Amaterasu]

Jumunji の投稿を引用：

wuddih の投稿を引用：

video games are non-essential, a luxury. you don't need video games. if you even consider paying such types of products on a credit/loan, you have a problem.

but it is quite funny that such a request comes from down under and that you actually have multiple payment seemingly popular services that offer this.

disturbing.

Quite funny that you think you are better than Australians we can budget our money just fine as well as handle most things better than any other country Eg. Covid. So what's the problem with using a service after budgeting money for bills to buy a luxury item for yourself and no you don't pay interest

You use an awful lot of nationality based insulting.

[The HopelessGamer™]

joelraymond2009 の投稿を引用：

The HopelessGamer™ の投稿を引用：

If you cannot afford it, you should not have it. Learn to budget your money properly and great things will happen.

Also using zip pay or afterpay shows poor money management which could make it harder for you to get a loan. (So i have been informed, do not quote me on that one)

You are so wrong before using buy Now Pay Later systems I was never able to get a car loan or anything over say $200 since using buy Now Pay Later through afterpay for the past 12 months I have increased my credit rating to appoint now that I can actually go and obtain a loan for a car or possibly even for a house so your assumption that it's bad money management and it will make it harder to get alone shows how uneducated you are on the subject get an education before you chime in on conversations that you have no idea on

My information came from a bank teller who may have been misinformed if we assume your information is correct. As i said, dont quote me on it.

But the general point is that it can cause bad habbits of spending money before you have earned it. So the general rule of thumb is if you cannot afford it, you cannot have it.

Yes using these can benefit if you have low income and need money but it can also cause detrimental effects if you use these services poorly such as missing your payments.

I personally like to save up first and buy stuff then use one of these services. It shows i have good life skills because i manage my money properly. These services can lead you into bad habbits such as spending your money you do not have yet.

Alot of my previous assumptions was based on limited information as these services were quite new. If you look this stuff up now, they have some information on it; https://help.afterpay.com/hc/en-au/articles/900003970646-Is-using-Afterpay-bad-for-my-credit-score

Just because it does not affect your score, does not mean it will not cause problems later down the track. As i said, practice good money management, good budgeting and you will be fine.

[Wca VR]

How about people stop telling others how to spend their money.

Services like Afterpay and zip pay are just another way to pay off a product & the buyer has that choice & rights as a consumer.

If the option for afterpay and zip was on steam, you have the choice to use it or not.

Me personally, i always like having options and not need it, than need it and not have option.