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Marqeta Study: Credit Cards and Buy Now, Pay Later Services Rise in Popularity as Australian Consumers Face Dual Squeeze of Rising Interest and Inflation Rates

“Actively rising inflation rates and continued consumer uncertainty are denting Australian consumer confidence and raising awareness of credit and BNPL options, according to a new survey published today from Marqeta, the global modern card issuing platform. The company released its annual State of Credit report for 2022, which surveyed 4,000 consumers globally – including 1,000 in Australia – highlighting consumer sentiment around spending trends, alongside consumer credit experiences and preferences. In Marqeta’s 2022 State of Credit report almost one-third (31%) of Australian consumers surveyed said that they struggled more with making credit card payments in the last 12 months.”