Split-payment and installment plans, such as Buy Now, Pay Later (BNPL), are reshaping consumer shopping habits, allowing for better budget management by spreading payments over time. A report by PYMNTS Intelligence and Splitit reveals the growing popularity of these plans, particularly among younger generations like Gen Z and millennials. These groups are increasingly using BNPL to make purchasing decisions that align with their financial capabilities and credit-building goals. Despite this, Gen Z shows slightly lower satisfaction rates with BNPL compared to other age groups, possibly reflecting concerns about debt. Overall, high satisfaction rates across generations indicate a positive reception towards installment payment methods.
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