Financial Expert Warns Against the Hidden Traps of 'Buy Now, Pay Later' Services

Financial expert warns against the hidden traps of 'buy now, pay later' services

Using "buy now, pay later" (BNPL) has become increasingly common in recent years as people look to split up and finance purchases they make. According to Credit Sesame financial analyst Richard Barrington, some key steps people should take as they utilize BNPL include budgeting beforehand, reviewing the terms of the plan, determining what fees could be associated and being prepared for automatic payments."If you need BNPL to be able to pay for s…

“Buy Now, Pay Later” Platforms Head to the Courts

The “buy now, pay later” (BNPL) short term financing model has enjoyed a resurgence in recent years. While the concept is not new, the integration of BNPL into technology platforms and e-commerce has kicked off a new wave of financed purchasing. Companies like Klarna, Affirm, and Afterpay exploded in value during the COVID-19 pandemic.  Purchasing on credit comes with risks, both for consumers and for lenders. Klarna’s increasing credit losses h…

More Americans Say They Might Need Buy Now, Pay Later Just to Keep Up

This is just a tiny glimpse of the data available to CivicScience clients. Discover more data. The current state of economic uncertainty amid ever-evolving tariff policies continue to shape consumer behavior. As price increases loom across the retail sector, one key example is the growing demand for Buy Now, Pay Later (BNPL) services. But with growing demand comes mounting debt and the risk of falling further behind. What is the latest state of …

Financial News Network - Financial expert warns against the hidden traps of 'buy now, pay later' services

Explore the rise of 'buy now, pay later' services and learn key tips for managing BNPL payments, including budgeting, understanding fees, and avoiding late charges.Read More …