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Buy now and pay later is an attractive option for consumers, perhaps even more so in a recession. But with debt and inflation on the rise, perhaps the focus should be on companies that help keep borrowers from pitting themselves. Anna
Lasting attraction to buy now, pay later
I figured tough economic times would quickly create headwinds for the buy now, pay later trend. I was wrong.
“BNPL is a form of credit that allows consumers to split their retail transactions into small, interest-free installments that can be repaid over time,” he said. The Financial Protection Agency’s September report said:
Most recently, the Financial Times reported that “BNPL demand surged during the pandemic and continues to grow, according to data from UK open banking fintech Snoop.”
This isn’t just a Gen Z trend, the FT adds:
