Are buy now, pay later' services trapping people in debt?

"Buy now, pay later' schemes are booming. But with more users turning to them, are they as risk-free as they seem?"

"Buy now, pay later has become a retail fixture seemingly overnight, and Cyber Monday is set to be the services' biggest sales day yet. But as these payment options offer customers freedom and flexibility, are they also opening the door to a wave of unregulated debt?"

Buy now, pay later schemes have rapidly expanded into mainstream retail, becoming a common checkout option and driving major sales events like Cyber Monday. Customers benefit from short-term deferred payments and perceived flexibility, encouraging higher spending and impulse purchases. Lax regulation and ease of access can mask accumulating liabilities, particularly for vulnerable consumers or those using multiple providers. Lack of credit checks and fragmented oversight create potential for unregulated debt growth and financial strain. Policymakers, retailers, and consumers face growing pressure to balance convenience with protections, clearer disclosures, and responsible lending practices.

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