Buy Now Pay Later Bnpl Where Are We
Buy Now, Pay Later (BNPL) – Where Are We?: What it is Buy Now Pay Later, also known as BNPL, is a mode of unsecured, Point-of-Sale (POS) financing that permits consumers to make purchases that they then pay for over time. It is a short-term, no-interest consumer credit product that has become nearly ubiquitous at the point of purchase online and, increasingly, in brick-and-mortar stores. “Buy now, pay later is the new version of the old layaway plan, but with modern, faster twists where the consumer gets the product immediately but gets the debt immediately too,” said CFPB Director Rohit Chopra....