Buy now, pay later: just how risky is it for consumers?

Singapore

THERE has been much talk over the risk of buy now, pay later (BNPL) solutions on consumer debt, with such schemes appearing to prey mainly on credit-starved Gen Zs.

In Singapore, there are concerns that even the broader millennial segment (aged 25 to 40) with access to credit cards may fall into overspending traps laid by BNPL - essentially interest-free instalment plans for everyday items - and impede their longer-term financial goals.