Pay later plans offer flexibility, appealing especially to Gen Z. A recent PYMNTS Intelligence report shows that Gen Z maintains steady use of these plans, despite slight declines in other demographics. They understand BNPL as loans, with 73% recognizing this. Interestingly, Gen Z is less concerned about credit impacts. Key findings include consumers switching merchants based on BNPL options and plan usage varying by purchase type. However, many still confuse BNPL with traditional loans, highlighting a need for better financial education.
Gen Z is spearheading the BNPL trend, valuing flexibility over credit impact.
BNPL, Gen Z
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