Credit as a BRIDGE, not a TRAP

Despite BNPL’s Popularity, Consumers Are Encountering Problems - Digital Transactions

Nearly one quarter of consumers tend to spend more than they should when taking out a BNPL loan, says a new study by Bankrate.com. Overall, 24% of consumers say they overspent after getting BNPL funds. Gen Zers are the demographic most likely to feel that way, with 30% saying they overspent when using BNPL to finance a purchase, followed by Millennials (27%), Gen Zers (20%), and Baby Boomers (19%).   One of the reasons consumers tend to feel the…

More Americans Are Financing Groceries With Buy Now, Pay Later Loans — And More Are Paying Those Bills Late, Survey Says

By Gabrielle Fonrouge A growing number of Americans are using buy now, pay later loans to buy groceries, and more people are paying those bills late, according to new Lending Tree data released Friday. The figures are the latest indicator that some consumers are cracking under the pressure of an uncertain economy and are having trouble affording essentials such as groceries as they contend with persistent inflation, high interest rates and conce…

Credit as a BRIDGE, not a TRAP.

In the busy streets of Accra, a young executive assistant enters a local waakye spot. Instead of paying immediately, she enters a code and chooses Credit, a Buy-Now-Pay-Later (BNPL) plan. The cost? Around 40 Ghana cedis, divided over four weeks. It’s a small amount for a simple meal. Yet, in that moment, we catch a glimpse of a quiet revolution reshaping urban life in Ghana. BNPL is now woven into everyday life. It’s no longer just for smartphon…

Credit as a BRIDGE, not a TRAP

News Ghana, Latest Updates and Breaking News of Ghana, Dr. Maxwell Ampong, https://newsghana.com.gh/dr-maxwell-ampong-credit-as-a-bridge-not-a-trap/In the busy streets of Accra, a young executive assistant enters a local waakye spot. Instead of paying immediately, she enters a code and chooses Credit, a Buy-Now-Pay-Later (BNPL) plan. The cost? Around 40 Ghana cedis, divided over four weeks. It’s a small amount for a simple meal. Yet, in that mom…

Credit as a BRIDGE, not a TRAP. – Maxwell Investments Group

In the busy streets of Accra, a young executive assistant enters a local waakye spot. Instead of paying immediately, she enters a code and chooses Credit, a Buy-Now-Pay-Later (BNPL) plan. The cost? Around 40 Ghana cedis, divided over four weeks. It’s a small amount for a simple meal. Yet, in that moment, we catch a glimpse of a quiet revolution reshaping urban life in Ghana. BNPL is now woven into everyday life. It’s no longer just for smartphon…