‘It’s lending on steroids’: How Buy Now, Pay Later companies are meeting an influx of demand despite higher costs | CNN Business

New York CNN  — 

In good economic times and bad, people’s self-control to spend within their means on gifts during the holiday season flies out the window. For decades, credit cards bore the brunt of compulsive holiday spending habits. But increasingly, they’re sharing the spotlight with Buy Now, Pay Later companies.

On Cyber Monday, BNPL purchases hit an all-time high, up 43% from a year ago, according to Adobe Analytics. The number of items per order also rose 11% annually as shoppers used BNPL for larger purchases.

Like credit cards, these companies allow customers to make

→ Continue reading at CNN - Business News

More from author

Related posts


Latest posts

Retail stores discourage workers from confronting shoplifters | CNN Business

Why retailers don't do more to prevent shoplifting ...

SmileDirectClub shuts down after filing for bankruptcy | CNN Business

New York CNN  —  SmileDirectClub, the international direct-to-consumer dentistry and orthodonistry company that sold teeth aligners, has shut down...

One product, so many prices: Unit price, list price, ‘MSRP.’ Which one do shoppers actually pay at checkout? | CNN Business

New York CNN  —  Deodorant, detergent, granola bars, cookies, underwear. Shop for any of these every day items and...