As Buy Now, Pay Later options go mainstream, more brands are heavily leaning into the trend. 

As Buy Now, Pay Later options go mainstream, more brands are heavily leaning into the trend. Interest around BNPL grew last year, with usage of the services jumping as much as 200%. Bank of America predicts that they could grow “fifteenfold” to an annual value of $1 trillion by 2025. In recent months, national chains like Walmart, Macy’s, Sephora, Neiman Marcus, and DSW have begun to allow shoppers to pay for daily purchases in biweekly installments with programs like Affirm, Afterpay, and Klarna. Newer payment solutions like Bread, Sezzle, and Splitit have been emerging as well. The usage of these services is emerging during a time when more young shoppers are shifting to online shopping and have “a growing distrust” of credit cards. Klarna reported that 85% of members use debit cards instead of credit cards to back their purchases. However, consumer protection experts are warning that because these services are often “unregulated,” users should be weary of overextending themselves. (The Washington Post)