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Buy Now, Pay Later Loans Grow in Popularity Amid Financial Pressures

Federal Reserve economists say Americans spent more than $160 billion on the plans last year as pay-in-four use climbed nearly 80% since 2023.

Summary by WPBF
Consumer Reports warns of potential risks as Buy Now, Pay Later loans become a popular option for consumers looking to manage their budgets.

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Not paying for a purchase today, but in a month, or dividing the payment into thirds, is a matter of a few clicks. However, this service is usually not provided by the merchant, who gets his money immediately. There is a third party and it actually lends you money. Now, deferred payments will also be considered a consumer loan according to the law. And according to the rules for consumer loans, you will also have to be verified.

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Channel 3000 broke the news in Madison, United States on Thursday, October 8, 2026.
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