Exploring the surging popularity of Buy Now Pay Later services as a coping mechanism for economic strains caused by inflation, focusing on the shift towards using BNPL for essential needs and the looming concerns over escalating debts and risks associated with unchecked utilization.
“Buy Now, Pay Later” options have exploded in popularity and availability, and in the midst of stubborn inflation, Americans are even using them to buy essentials like groceries.
But not all of the BNPL providers report data like credit card companies — and no one knows exactly how much debt consumers owe.
On today’s episode, host Sarah Holder talks to reporters Paulina Cachero and Paige Smith, who tried to find out more about the size and scope of the debt.
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