How Buy Now, Pay Later Became A $100 Billion Industry
Sep 21, 2021
Buy now, pay later is having a moment. Millions of shoppers now use a buy now, pay later, or BNPL, service to finance their purchases. And the options are more varied than ever — Klarna, Affirm and Afterpay are just a few of the many providers in the space. Meanwhile, big companies are jumping on the bandwagon, with PayPal launching its own product, Amazon and Apple partnering up with Affirm, and Square agreeing to buy Afterpay in a $29 billion deal. BNPL companies tout their service as a better alternative to credit cards. But critics are worried many people are spending more than they can afford and that some may not even realize they’re getting into debt. Read more at CNBC.
