Blog
What is buy now, pay later?
08th October 2020Buy now, pay later, or BNPL, is a new face for an old type of loan service as BNPL is essentially a catalogue loan. It’s a very popular way for people to purchase products while online shopping as buy now, pay later allows consumers to spread the cost of the purchase over several instalments. At first, this may seem like a great way to shop, however, like most loan services, buy now, pay later schemes usually charge an interest rate which means you can end up paying far more for the product than you need to.
