The Kinds of People Who are Using Buy Now Pay Later Methods
Buy now pay later (BNPL) methods of payments have become more and more popular after the pandemic. With more people experiencing financial hardship, BNPL offers a solution that doesn’t involve pesky fees or interest rates. Even with the pandemic seemingly coming to an end, many people are still using BNPL.
Many people using BNPL are pet owners. Vet bills can be very expensive, and no pet owner should have to choose whether to pay their vet bill or pay their rent. Using BNPL allows for owners to still give the pet the care they need while staying on top of their own bills. Pet owners can then pay off the vet bills on their own time without worrying about fees that credit cards would lead to.
Many Americans are using BNPL as a way to cover their healthcare costs. Many people have to use credit in order to pay off healthcare bills, and this can lead to interest rates and fees. This means people are paying even more for their bills in the end! Using BNPL allows for people to pay off their healthcare needs without acquiring those fees.
Even the best budgets are benefitting from BNPL. It is an easy, stress-free way of staying on top of your bills during a financially stressful time. Learn more about BNPL in the infographic below: