Buy now, pay later Payments: New rules consumers need to know

Buy now, pay later Payments: New rules consumers need to know

Buy now, pay later Consumer models are taking the US payments industry by storm.

BNPL resonates with US online shoppers, who make modest initial payments up front and pay remaining balances on scheduled due dates, often smaller payments made over four months.

Currently, BNPL’s standalone mobile apps such as Klarna, Afterpay and Affirm offer easy-to-use buy now and pay services.

US consumers like these plans because they avoid large debt obligations, leaving more flexibility in family budgets.

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