TL;DR
Buy now, pay later (BNPL) services have taken off, especially among millennials and Generation Z, as they offer an interest-free way to spread out payments over time. Ashitha Jayaprakash, a content marketer, prefers BNPL for its user-friendly interfaces and transparency compared to traditional banking apps, which she finds lacking in these areas. BNPL companies like Tabby, Postpay, and global players such as Klarna and Afterpay are reshaping consumer spending patterns, allowing for smoother cash flow and budget management. Despite the ease of use, there are warnings about the potential for overspending and accumulating debt if payments are missed. The BNPL market is expected to grow significantly, but users are advised to remain informed about the terms and conditions to avoid financial pitfalls.
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