President Trump's tariff policies have created economic volatility, leading to rising prices and trade wars. Consumers are unsure whether to purchase goods now or wait for potential price changes. To ease decision-making, buy now, pay later (BNPL) services like Klarna, Affirm, and Afterpay offer a way to afford purchases through smaller payments without interest, making them more accessible. However, their increasing popularity may signal broader financial challenges, as many consumers struggle with rising costs and inflation.
Economic uncertainty-over tariffs, rising inflation, and the possibility of a looming recession-is giving consumers pause about stretching their limited funds.
The top reasons consumers use buy now, pay later is because they can't afford the full cost of the item at once. Another reason is because there's a higher approval rate.
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