Stay updated with the latest insights on Buy Now Pay Later, financial tips, and smart shopping strategies.
The concept of expensing purchases is not new. People who couldn't buy an item outright used to put it on layaway in stores back in the day. And credit cards have long been a way for customers to spread out the expense of purchases over a longer period of time.
Consumers are increasingly turning to the buy-now, pay-later (BNPL) model, which is expected to rise by 80 percent between 2020 and 2022. As a result, millennials will account for 40% of all BNPL users in 2021, the biggest percentage of consumers by age group. Consumers in Generation Z are already embracing this trend.
Even though we are in the middle of a worldwide pandemic with several economic concerns, the difficulties of the year 2020 have taught us some things. Personal financial lessons from last year can be gleaned from the following sections. Personal health and family and friends' well-being have taken center stage.
Afterpay, Affirm, Yelowapp, and Klarna are just some of the firms that provide buy now, pay later (BNPL) services, and they're only getting more popular. If it hasn't already, the way you use these services might have an impact on your credit score in the near future. According to statistics, BNPL can be a valuable tool for building credit history.
