NEW YORK—The attention being given to buy-now-pay later offers continues to climb, a new report shows.
In a recent study by coupon search engine Coupon Follow, 63% of respondents reported using buy-now-pay-later financing—point-of-sale loans—to afford something they bought online.
Of this group, 60% reported they were able to get a POS loan they otherwise would not have qualified for, and 72% reported adding extra items to their cart, CNBC stated in its analysis.
Most consumers who used POS financing in Coupon Follow’s survey reported using it to buy electronics, followed by beauty/health products, home and garden products and games/books/media.
As CUToday.info reported here, American Express has become among the latest to enter the market with its own offering.
And as CUToday.info reported separately here, the British government recently announced plans to introduced rules on the unregulated market in that country.