Money is tight these days. Holiday shopping, ballooning inflation, and a looming recession have forced people to more carefully consider their finances. Those factors might help explain the explosion of “buy now, pay later” services. BNPL plans offered by companies like Affirm, AfterPay, and Klarna let you spread the cost of a purchase—anything from a Peloton bike to a basket of groceries—over multiple installments, without the fees or interest rates of most credit cards. Of course, free money always comes with a catch.
This week on Gadget Lab, we dig into the buy now, pay later phenomenon and what it means for the future of shopping.
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