BNPL: The Hidden Debt Trap
Update: 2025-12-05
Description
Buy now, pay later (BNPL) is gaining popularity, especially during holidays, allowing consumers to split purchases into smaller payments. Adobe Business predicts over $10 billion in holiday spending will use BNPL, a 9% increase from last year. However, concerns arise about shadow debt as each BNPL purchase is a separate loan, making it challenging for consumers to manage finances. Six states, including California, are investigating BNPL providers like Affirm, Klarna, and PayPal. Experts advise understanding loan terms, tracking payment dates, and monitoring accounts to avoid unexpected debt.
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