Buy Now, Pay Later (BNPL) – What’s The Difference Between Credit Cards, And How Sustainable Is It As A Payment Solution?

Buy-Now-Pay-Later (BNPL) has become an increasingly relevant topic around the world. While it’s not hard to guess what it refers to – buying something today and paying for it at some point in the future – we look at what really makes it different to credit cards.

Beyond just that comparison, another layer to the discussion is how ethical is it for BNPL companies, which are typically not regulated, to encouraged their customers to take on debt. This is especially since their users can be more vulnerable groups, students who have never managed debt or even income, and lower-income individuals who do not earn enough or have poor credit ratings to qualify for credit cards.

Read more: https://dollarsandsense.sg/simple-truth-behind-buy-now-pay-later-bnpl/