Risk of BNPL services in the US

“It’s practical, it saves consumers because of lower interest costs and it’s disruptive,” said Kenneth Leon, CFRA’s banking industry specialist. Big business agrees: Australia’s AfterPay was purchased by Square for US$29bil (RM123bil) this summer and Affirm is valued at US$37bil (RM157bil) on Wall Street.

New York: Krista Michels can’t get enough of the online services that allow American shoppers to pay for everything from Christmas presents to monthly bills without fees, known as “buy now, pay later.”

“I’m kind of addicted now,” said the young mother in Washington state.