Buy Now, Pay Later options, also known as BNPL, is a payment tool that allows you to split your transactions into smaller chunks. This can be a helpful way to afford items that you might not otherwise be able to purchase immediately.
When you use BNPL, you generally provide a initial amount at the time of purchase, and then settle the remaining balance in a number of monthly installments.
- Let's look at some probable advantages of using BNPL:
- It can make large purchases more accessible.
- Strengthen your credit score if you employ it responsibly.
- Bypass high-interest loans.
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