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EconomicsELI5 How do companies like Klarna and Afterpay make money without charging interest?(self.explainlikeimfive)
I see these companies offering installment payment options for online purchases but they don't charg...
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Years ago I met someone who worked for GE Money bank and asked him how this worked because I had used them with 2 different merchants to get zero percent for 12 months and they didn't make any money off me. He said the vast majority of people who got zero percent for X months, didn't pay it off in time and wound up paying a lot of interest.
Yes, of course. I'm not surprised.