Buy now, panic later

BNPL is a friendly jingle, and younger generations have taken the bait.

Singdhi Sokpo

Jacob Cohen

Singdhi Sokpo

March 15, 2022

Today, more than war and death, younger generations are afraid of debt.

It’s one reason “Buy Now, Pay Later” platforms do ~$100B in sales and are growing at a 40% clip. “BNPL” is a friendly jingle, and the youths have taken the bait.

Unfortunately, data shows they’re struggling with the “pay later” part:

In the U.S., 50%+ of Gen Zers and millennials say they’ve missed at least 1 BNPL payment.
~8% of the UK’s BNPL Gen Zers have been contacted by debt collectors.

Fortunately, regulators are catching on, and bureaus are now starting to follow BNPL activity on credit reports.

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Buy now, panic later

BNPL is a friendly jingle, and younger generations have taken the bait.

Get the 5-minute roundup you’ll actually read in your inbox

Will a recession get people back in the office?

Teens are going back to work

Americans are really struggling with medical debt

The news around gas prices, explained

Markets tanked, but tech is just getting started

Where are all the public restrooms?

What happens to swag from failed companies?

Amazon’s unique hiring problem, explained

Digits: 15-minute delivery, Lightyear, and teacher shortages

Uh, what is peecycling?

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Buy now, panic later

BNPL is a friendly jingle, and younger generations have taken the bait.

Get the 5-minute roundup you’ll actually read in your inbox​

TRENDING ORIGINALS

Vetted business ideas you can launch in a weekend

“Entertaining, informative, keeps you coming back for more...”

The Hustle Daily Show

Psst

How'd Bezos build a billion dollar empire?

Get the 5-minute roundup you’ll actually read in your inbox