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54% of Gen Z Shoppers Use Pay Later Plans to Buy Groceries
(www.pymnts.com)
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this post was submitted on 02 Jun 2024
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A Boring Dystopia
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BNPL schemes tend to be interest free as they're very short term.
They make their main money on merchant fees, but yes, they will absolutely screw you over if you don't pay on time.
I used one of those short term financing things to buy a video card a couple years back. I think I paid 4% interest over 3 months which wasn't bad at all considering my original plan was to put it on my credit card and pay it off over 3 months at like 20% interest. As long as you have the means to pay these things back, they aren't bad at all. If you cannot pay them back, they can and will fuck you in every orafice with no lube.