What to know about buy now, pay later programs

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What to know about buy now, pay later programs

Assorted payment apps offering Buy Now Pay Later services as seen on an iPhone

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BNPL replaced a very similar system: layaway

A TV offerred with a layaway program

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They don’t affect your credit score… yet

Credit score report

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Popular among millennials and Gen Z

Payment options including PayPal, Afterpay, and Klarna as seen on Lululemon’s checkout page

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It’s a largely unregulated industry

A local Better Business Bureau office

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They make money from the retailer—and from late fees

Afterpay mobile app login page as seen on an iPhone