A Boring Dystopia

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54% of Gen Z Shoppers Use Pay Later Plans to Buy Groceries (www.pymnts.com)

submitted 2 months ago by [email protected] to c/[email protected]

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[–] [email protected] 74 points 2 months ago (48 children)

"Pay later plans"? Other than credit cards, WTF are you talking about?

Yeah, I have a credit card that pays me back 5% cash on grocery store purchases. It would be stupid NOT to use it, then I pay the card off every pay day.

Groceries + free money.

[–] [email protected] 7 points 2 months ago (7 children)

Yeah, I have a credit card that pays me back 5% cash on grocery store purchases. It would be stupid NOT to use it

Groceries + free money.

I'm reading this as a European and have questions... We all know that there is non free money. So, what's the business model? Making you use the card more by giving you "free" money and making the shops pay more to use the payment service, so that the shops then increase the prices, so that you pay the same as before (considering increased prices and cashback), but are now using the payment system a lot more?

[–] [email protected] 8 points 2 months ago (2 children)

making the shops pay more to use the payment service, so that the shops then increase the prices, so that you pay the same as before

Just nitpicking because I enjoy these thoughts:

When the shop increases prices, it has to do it for all the customers, including the ones without credit card. So a part of the cost is offloaded to other types of customers. While credit card customers should see a slight increase in price, it should not be as much as they saved previously. So still a net win for them, at the cost of others.

As others pointed out, the real scheme is probably entirely different.

[–] [email protected] 1 points 2 months ago (1 children)

A lot of smaller businesses charge you extra for using the credit card or something similar.

The bigger businesses don’t do that.

[–] [email protected] 3 points 2 months ago

Of course the bigger businesses do. it's rolled into operating costs and is reflected in their pricing.

You just don't end up with a different price differentiated by the transaction method.

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