Buy Now, Pay Later popular among younger, poorer consumers

More than one-fifth of consumers used Buy Now, Pay Later (BNPL ... on other credit accounts. Younger borrowers (ages 18-24) used BNPL loans for 28% of their total consumer debt, much higher ... Read More

Buy Now, Pay Later: Hidden Credit Risks In The Digital Payment Revolution

While BNPL platforms promise easy timely payments, they have substantial hidden risks for consumers, lenders and the overall financial system. Read More

U.S. Consumer Financial Protection Bureau Issues New Rules On Buy Now, Pay Later Programs

Buy Now, Pay Later (BNPL ... But they are a welcome addition to the popular payment method, which is becoming especially ubiquitous among young people. Consumers aged 35 and under make up 53% ... Read More

Buy now, pay later installment payments increase retail spending, study finds

Researchers from Imperial College Business School and University of Leeds published a Journal of Marketing study that examines the impact of BNPL installment payments on retail sales. The study is ... Read More

CFPB Releases Report Highlighting Consumer Use of Buy Now, Pay Later Products

On January 13, the Consumer Financial Protection Bureau (CFPB or Bureau) released a report providing its analysis of the growth and impact of Buy Now, Pay Later ... 21% of consumers with a ... Read More

Holiday shoppers used ‘buy now, pay later’ options more than ever in 2024

The increased use of those buy-now-pay-later options — which enable consumers to pay off purchases ... “It’s obviously telling of the state of the consumer,” he said. Read More

Heavy BNPL use among borrowers with high credit balances and multiple pay-in-four loans: CFPB

The Consumer Financial Protection Bureau (CFPB) has released data highlighting that more than one-fifth of buy now pay later (BNPL ... may encourage consumers to use BNPL. Younger borrowers ... Read More

A CFPB Study Weighs in on the Buy Now, Pay Later Trend

Consumers with subprime or deep subprime credit scores accounted for the majority of buy now, pay later originations from 2021 to 2022, a report by the Consumer Financial Protection ... the report ... Read More

Buyers beware: If you make purchases this way, you may not be protected

CINCINNATI (WKRC) - Buy now, pay later services saw a record-breaking $991.2 million in consumer spending on Cyber Monday. However, consumers should be cautious about potential complications when ... Read More

Buy Now, Pay Later: The Debt Trap You Didn't See Coming

If you frequently rely on Buy Now Pay Later (BNPL) schemes to cover your needs—and even your wants—you may want to take note of the latest findings from the U.S. Consumer Financial Protection ... Read More

Dutch government aims to prevent 'buy now, pay later' purchases in stores

Jan 22 (Reuters) - The Dutch government is seeking to prevent the rollout of "buy now, pay later" services in physical retail ... can trigger earlier and larger debts, particularly among younger ... Read More

Debt in disguise: Experts issue Buy Now Pay Later warning as ‘clever marketing’ risks overspending

Image: Shutterstock Buy Now Pay Later ... “Younger consumers may think BNPL is safer because it feels less formal than credit cards however this is not the case,” Porter said. The ease of option for ... Read More