As the name signifies, the meaning of the "buy now, pay later" transaction is simple. It means an offer of an instalment loan at the point of purchase. The process leads to the spreading of the cost of the product(s) across several payments.

Is 'buy now, pay later' becoming debt trap? A third of UK users say repayments are 'unmanageable'

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Is 'buy now, pay later' becoming debt trap? A third of UK users say repayments are 'unmanageable'