Buy Now, Pay Later: Difference between revisions
m Removed one-line descriptors of the companies for inaccuracy Tags: Mobile edit Mobile web edit Visual edit |
mNo edit summary |
||
| Line 1: | Line 1: | ||
{{Incomplete}} | {{Incomplete}}{{Irrelevant}} | ||
{{Irrelevant}} | |||
'''Buy Now, Pay Later (BNPL)''' is a financing option for online purchases that allows consumers to pay for items in four installments. Companies such as [[Klarna]], [[Affirm]], [[PayPal]], and [[Apple Pay]] offer Buy Now, Pay Later loans at the check-out of online retailers, advertising four low payment installments. Because the lenders generally commit soft credit checks and offer interest-free installments within a short period, BNPL is highly targeted toward those who have bad or no credit at all. It disproportionately affects vulnerable consumers, leading to major criticisms of predatory lending. | '''Buy Now, Pay Later (BNPL)''' is a financing option for online purchases that allows consumers to pay for items in four installments. Companies such as [[Klarna]], [[Affirm]], [[PayPal]], and [[Apple Pay]] offer Buy Now, Pay Later loans at the check-out of online retailers, advertising four low payment installments. Because the lenders generally commit soft credit checks and offer interest-free installments within a short period, BNPL is highly targeted toward those who have bad or no credit at all. It disproportionately affects vulnerable consumers, leading to major criticisms of predatory lending. | ||