The Buy Now, Pay Later Black Hole

Consumers borrow billions in “pay in four” installments

Andy Spears
3 min readMay 14, 2024

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Photo by Pawel Czerwinski on Unsplash

While some suggest the economy is doing just fine, there are some warning signs out there.

Among them is the rapid rise and consistent growth of Buy Now, Pay Later (BNPL). These short-term installment loans allow a customer to make a purchase and pay for it in four installments (Klarna…

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Andy Spears

Writer and policy advocate living in Nashville, TN —Public Policy Ph.D. — writes on education policy, consumer affairs, and more . . .