What new ‘buy now, pay later’ rules mean for shoppers – and why they won’t protect you on Black Friday

Around two in five shoppers have used BNPL schemes before - (Getty)

You can’t get through many online checkouts these days without being presented with a “buy now, pay later” (BNPL) option.

These plans, offered by firms like Klarna, PayPal and Clearpay, let users split payments into three or four interest-free instalments and have become a go-to option for millions of people, with around two in five shoppers having used it before, according to Finder research.