More US shoppers tack on buy now, pay later debt for Cyber Monday

A worker sorts products during Cyber Monday at the Amazon's fulfillment center in Robbinsville, New Jersey, U.S., November 27, 2023. REUTERS/Mike Segar

NEW YORK (Reuters) -A record amount of price-pinched holiday shoppers are expected to use buy now, pay later services for Cyber Monday to relieve stress on their wallets, according to Adobe Analytics.

Shoppers are slated to spend between $12 billion and $12.4 billion online on Monday, with $782 million of purchases made with BNPL services, including Klarna and Affirm, representing a surge of nearly 19% from last year, the data company said.