Buy Now, Pay Later (BNPL)

Buy Now, Pay Later (BNPL) is a payment option that allows consumers to make purchases immediately and pay for them over time, often in installments. This service is typically offered by retailers or third-party providers, enabling shoppers to spread out the cost of their purchases without interest, as long as they pay on time. BNPL is popular for its convenience and flexibility, making it easier for individuals to manage their budgets. However, it's essential to read the terms carefully, as late payments may lead to fees or impact credit scores.