When you hit the checkout counter, you may have the option to pay with a credit card, debit card, or buy now, pay later (BNPL). If you’ve never used a BNPL service, you might have some skepticism about how these consumer loans work and whether or not the terms are favorable compared with other financing options like a traditional credit card.
Recent studies suggest that many consumers have hopped on the BNPL bandwagon.
