AFTPF - A third of U.S. consumers fall behind on 'Buy Now Pay Later' purchases - Reuters

About a third of U.S. consumers using "Buy Now, Pay Later" ("BNPL") services have fallen behind on one or more payments, Reuters reports, citing a study published by personal finance company Credit Karma. That proportion of late payments, though, improved from the end of 2020. In addition, 72% of those who have fallen behind have seen their credit score drop. BNPL services allow consumers to pay for purchases in installments. The most common plans split up the purchase price into three or four installments. The study, conducted by software firm Qualtrics, found that 44% of the 1,044 adult consumers surveyed had used BNPL services, up slightly from a previous survey conducted in December, Reuters said. The number who had missed payments at that time was 38%. Younger consumers were more likely to miss payments, the survey found, with more than half of Gen Z or Millennial respondents (born between the

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A third of U.S. consumers fall behind on 'Buy Now, Pay Later' purchases - Reuters