Buy Now Pay Later is booming so much in the U.K.—with young people fuelling the trend—that the British government is laying out plans to further regulate the sector. A recent study shows that almost 50% of BNPL users need to take on more debt to pay off their existing BNPL credit. And with Gen Z and Millennials being big users of BNPL, the government worries these gens are getting into endless debt. The same boom is happening in Germany, with BNPL’s gross value estimated to double in the next six years. YPulse’s WE shopping and retail research found that 35% of 13-39-year-olds have already used a BNPL service, and 32% are interested. (FinTech Times)
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