For the folks taking payday loans this is even worse. The whole feature is designed to make you spent more than you can afford, especially preying on the more desperate as opposed to the ones who could just afford the thing they where buying. Essentially this is just a micro-loan that gets prohibitively expensive when you miss a payment, which you are obviously more prone to when you have issues paying back regular loans already. Actually, it's exactly like a payday loan works and abusing the same people.
No, my argument is essentially "poor people who struggle with conventional loans will use this and get themselfes in even deeper trouble out of desperation". This is not going against the people that use such features, it's going against the most valuable conglomarate on earth that incorporated it into their webbrowser.
Agreed. Corporate know this can make money, and they do it. Managing your expenses is not their job,…which is, yeah, probably true. But there are things called social responsibility, too.
I can see it happened with numerous service (at least in my country) that give users loan via an app, without usual paperworks. But many of said people are the one that have problem with their money management or lack financial literacy in the first place, and this add even more debt to theirs.
Giant corporation prey on ignorance of already struggling people. Ruthless, when you think about it.
Not everyone here is rich, but the demographics certainly skew in that direction.
The deeply out of touch comments here demonstrate that, even if this feature isn't appealing to HN users, it is appealing to a very wide range of people whom you are unlikely to see on HN.
I think you are hugely underestimating the audience for this kind of thing. This can be worth far far more than a few millions.
But yeah, of course for the rich HN audience this is an anti-feature. For the folks taking payday loans? Probably not!