Posted 12/25/2023, 2:43:00 AM
Walmart Offers New 'Buy Now, Pay Later' Loans at Checkouts
- Walmart is installing "buy now, pay later" payment options at 4,500 self-checkout registers, allowing customers to take out loans up to $4,000
- The loans will be managed through Affirm Holdings and can be paid back over 3-24 months after approval
- A financial analyst warned this signals concerning debt trends, with credit card debt already at record highs
- Some users predict this will lead to people unable to pay back loans, delaying an economic collapse
- Historical precedents show lending money to those unable to afford purchases can spur recessions, like onset of Great Depression