BNPL: Debt trap or Essential aid?
The pandemic saw a huge uptake in use of BNPL. Today the use is much more complicated and people are using it for more frequent purchases reflecting an increasing reliance on credit to extend their spending power. It currently is a 'one size fits all' solution - from affording luxury to managing expenses with the cost of living crisis.
On one hand, BNPL is becoming an essential choice that consumers are preferring because it gives them a lot of flexibility whether they’re funding takeaways, essentials or experiences.