Here’s why banks, credit card companies are wary of buy now, pay later loans

Here’s why banks, credit card companies are wary of buy now, pay later loans

Buy now, pay later plans offer an attractive alternative to credit cards for consumers: They allow purchases to be split into short-term, typically interest-free installments. “Credit isn’t new. Credit’s been around for thousands of years and credit cards aren’t new. But they’ve had a hard time adapting to consumer needs,” said Michael Linford, chief operating…

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