Record inflation and significant changes to the prices of everyday items forced consumers to reconsider how they pay for online shopping. BNPL is one of the payment options impacted by this in, for instance, Chile. A survey held in 10 different countries across North America, Europe, and Latin America suggests, however, that debit cards - not Buy Now, Pay Later - sees the highest increase in use. That said, consumers in the United States did indicate in February 2022 that inflation was a reason for them to use BNPL more often. A trend that is observed in some countries is the growing use of buy now, pay later for offline shopping - most notably grocery shopping.
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Raynor de Best
Content expert covering payments and (crypto)currencies