Buy now, pay later giant Afterpay has made changes to the way in which it approves customers to ensure they are sheltered from a coronavirus induced downturn in profits.
Afterpay uses an algorithm which assesses ‘hundreds’ of different factors about their customers, their intended purchase and their payment history to give them a score when checking out.
One measure Afterpay has already taken is to ask customers to make their first, of four, payments upfront.
Additional measures being added include lower approvals for high-risk products, like luxury handbags.
And remember, if you can’t afford it, don’t buy it!