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Evolution of Consumer Preferences in Credit Options
The chapter explores McKinsey's 2014 report on credit card segmentation, discussing a group of self-aware avoiders who prioritize transparent fees over rewards. It delves into the shift towards simpler credit options seen in the buy now pay later concept, potentially challenging traditional credit card models. The conversation also covers the evolution and strategies of disruptive payment companies like Klarna in offering interest-free installments and navigating the competitive landscape.