Credit bureau Centrix has teamed up with the country’s leading buy now, pay later providers to keep users out of financial trouble.
PayWatch is a credit reporting system that will allow leading BNPL providers Afterpay, Zip and Laybuy to share overdue account data and flag borrowers behind on payments.
Centrix chief operating officer Monika Lacey says PayWatch will enable buy now, pay later providers to have better visibility of consumers who might be experiencing financial distress.
"Effectively, we've done some work with Laybuy, Zip and Afterpay, whereby they share with us every active customer who's in arrears on the day, so it's a dynamic data feed that refreshes daily."
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