“Buy Now, Pay Later” payments are surging among young shoppers during the pandemic. The payment solutions industry is booming as shopping shifts online and budgets are tightened, and according to Afterpay, more than 1.6 million U.S. users have signed up since March. The service, and others like it, allows shoppers to pay for an item in four installments, and the concept is flourishing during an “economic slowdown.” YPulse’s Retail’s New Reality trend report predicted that “Buy Now, Pay Later” services will be more popular than ever during the upcoming holidays as young shoppers try to make up for a hard year. (WSJ)
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