Who Is Buying Now, Paying Later?

AuthorBerryhill, Nora-Kathleen

As an increasing number of U.S. consumers opt into "buy now, pay later" payment options, it has become easier for researchers to learn more about how these services work, who uses them, and how users are impacted. In March 2022, the Financial Health Network released a report analyzing the findings of a nationally representative survey about BNPL users and their habits.

Among its findings:

* BNPL loans are most commonly used by young adults between eighteen and twenty-five years old. A slightly higher proportion of households of color--Black and Latino households specifically-reported using them as well.

* Thirty percent of BNPL users reported that they spent more than they would have if the loans weren't available to them, and 34...

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