More people using "buy now pay later" to stay afloat

[yung Herbie Hancock]

I wonder when all this is going to blow up. This next recession might be as big as 2008.

 

[Spliff]

I mean, we’re a debt economy during an economic downturn. Of course.

 

[⠀X ⠀]

But they told us that the economy was great. Now all of a sudden, people gotta put a burrito on lay away?

 

[Doobie Doo]

I understand using it for essentials But I will eat some noodles before I put chipotle on lawaway

 

[phcitywarrior]

I'm in the fintech/payments industry and this is one area that we're watching very closely. It's one thing to swap your CC spend for BNPL, but what we're seeing is people using their CC and the BNPL which can put them in a trap.

I'd advise folks to just sit out a summer or two and get their finances on track.

 

[Macallik86]

I'm watching BNPL companies from the sidelines. I have a feeling that if/when a real recession hits, they are going to go underwater and will have a lot of customers that just aint got it and have no means of getting it