Reported 16 days ago
The increasing popularity of buy now, pay later (BNPL) platforms is raising concerns about consumer behavior, as warned by LexisNexis Risk Solutions' Kevin King. While these services are seen as providing affordable rates for shopping, King highlights that they may foster unsustainable purchasing habits, leading consumers into financial trouble. Data shows a significant 20% rise in BNPL usage in the past year, predominantly among existing users, who are increasingly relying on this financial tool for various purchases, including groceries and auto expenses.
Source: YAHOO