[ad_1]
W
Welcome to TechCrunch Exchange, the weekly startups and markets newsletter. It’s inspired by the daily TechCrunch+ column from which it got its name. Want it in your inbox every Saturday? Register here.
Buy now, pay later is an attractive option for consumers, perhaps even more so in a recession. But with debt and inflation on the rise, perhaps the focus should be on companies that help prevent borrowers from falling into the hole. – Anna
The enduring appeal of shopping, pay later.
I thought the tough economic times would now create a headwind for the buy, pay off trend. I was wrong.
“BNPL is a type of loan that allows a consumer to pay off a retail business in small, interest-free installments and pay it off over time,” and is “in the midst of rapid growth,” according to a September report by the Consumer Financial Protection Bureau.
Recently, the Financial Times reported that “data from UK open bank fintech Snoop shows that interest in BNPL has increased and continues to grow during the pandemic.
This isn’t just a Gen Z trend, the FT added: “Demand has increased from people of all ages across the UK, including seniors who are pressured by the cost of living and need short-term loans.”
[ad_2]
Source link