'Buy now, pay later' goes from niche to normal as young people use it for daily essentials including groceries
SkyNTP @ SkyNTP @lemmy.ml Posts 1Comments 617Joined 2 yr. ago
SkyNTP @ SkyNTP @lemmy.ml
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BNPL generally has a fixed payment schedule, while CC does not. It's entirely feasible to use a CC and never pay interest by paying debts immediately (because you have cash liquidity). At that point, a CC becomes more of a low-friction "accounts payable" system for consumers than a financing scheme.
BNPL's primary value is in making large purchases because of low cash liquidity. When consumers don't have enough cash liquidity for FOOD, that's a sign of bad times.
Or it means people are leveraging low interest loans to gamble their lunch money. Still not a good look.