The big question is whether we want to deem this a credit or a loan product in Canada. It seems that other jurisdictions are looking at it more like a credit program. It basically reverses layaway, where you used to be able to pay for something in instalments, but you got the prize—what you were saving for—at the end of that journey. Now we're front-loading it, which does a lot for dopamine and gratification but can feel confusing too. You get something important that you may have coveted or that is necessary for daily life, but it has a longer tail with the payment structure.
Ultimately, it's about asserting the right jurisdiction and recognizing that this product is out there. We've permitted it in our digital economy. That happens more and more, but it's incumbent upon us to respond to it appropriately.