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Buy Now, Pay Later: The Hidden Costs of Convenience
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Buy Now, Pay Later: The Hidden Costs of Convenience

Buy Now, Pay Later (BNPL) services offer easy credit options but can lead to financial pitfalls. While popular among younger adults, especially those lacking established credit, BNPL can come with hidden fees and increased financial risks. A study by researchers from Stanford and other universities found BNPL users face more overdraft charges and credit card fees compared to non-users. The sector remains largely unregulated, prompting calls for mandatory credit reporting and consumer protections. Experts argue that while BNPL is a convenient tool, it requires careful oversight to prevent misuse and financial strain.

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