BNPL companies tout their service as a better alternative to credit cards. But critics are worried many people are spending more than they can afford and that some may not even realize they're getting into debt.BNPL plans, also known as point-of-sale loans, let shoppers pay for their items over a period of instalments.
BNPL is similar in that consumers get the product upfront and pay for it in incremental amounts, often interest-free. BNPL providers often add a checkout button to a retailer's website and then take a cut from the merchant on each transaction. Experts say retailers are incentivized to agree to this as it often leads to higher average order value and better conversion rates.
The advantage for shoppers is that they can buy a more expensive item than they might normally be able to pay for in one go — say, a $300 jacket — and spread the cost of their purchase over monthly instalments.The pandemic resulted in many brick-and-mortar retailers being forced to temporarily shut down and saw consumers spend much more of their time at home.
I am not sure what happened but my real problem is scammed by someone else but I don't want to get into that information right now but you look at it please if I get my number you will get yours thanks
Interesting topic