BNPL Spending to Surge 17% This Holiday Season as More Shoppers Embrace 'Buy Now, Pay Later' Despite Risks
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Buy now, pay later (BNPL) spending expected to surge to $17B this holiday season, up 17% from 2021.
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1 in 5 Americans plan to use BNPL for holiday gifts. Peak spending predicted for Cyber Monday at $782M.
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BNPL popular due to no interest, flexible payments. But late fees common, lacks protections of credit cards.
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BNPL users tend to be young, wealthy, but have lower credit scores and hungry for more credit.
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With inflation squeezing budgets, more broad range of shoppers may consider BNPL this holiday season.