Young consumers are opting to buy now and pay later, as more companies enter the financing gameWhen Jameil Joseph goes to check out his online shopping cart, he'll often click on the option to buy now and pay later. The new service, Apple Pay Later, will be available in the U.S. in the fall. LISTEN | For only four easy payments, you can listen to this story on buy now, pay later! But personal finance expert Mark Ting doesn't recommend consumers turn to BNPL services, saying they can encourage young consumers with little financial literacy to overspend. "It is a broader concern in the industry that buy now, pay later firms … are broadly non-profitable," Zaheer said.

Source: CBC News June 08, 2022 20:17 UTC