💨 Abstract

The article discusses the rise and implications of "Buy Now, Pay Later" (BNPL) services, which allow consumers to split purchases into smaller, interest-free payments. BNPL is attractive due to its ease of access and short-term affordability, making it a compelling alternative during high inflation and tight budgets. However, it is not a perfect substitute for credit cards and presents drawbacks, such as potential debt accumulation and overdraft risks.

Courtesy: WTOP Staff