A growing trend in consumer financing is taking hold worldwide. Buy-now, pay-later services are increasingly being used to purchase everyday items like burritos and even non-essential luxury goods.
The shift towards buy-now, pay-later financing has been driven by convenience and flexibility, allowing consumers to make purchases without immediate payment. This model is now being adopted globally, with many companies partnering with financial institutions to offer the service.
As a result, consumers are finding it easier to buy what they want, when they want it, without worrying about immediate repayment. However, this trend also raises concerns about debt accumulation and the potential for financial instability.
The use of buy-now, pay-later financing is not limited to discretionary purchases like burritos. It is also being used to finance more substantial expenses, such as tickets to events or medical treatments. This has significant implications for consumer finances and the broader economy.
As the trend continues to grow, it will be important to monitor its impact on consumers and the financial system.
Source: https://www.economist.com/finance-and-economics/2025/08/04/buy-now-pay-later-is-taking-over-the-world-good