Economics

“Buy now, pay later” (BNPL) has become an increasingly popular form of payment among Americans in recent years. While BNPL provides shoppers with the flexibility to pay for goods and services over time, usually with zero interest, the Consumer Financial Protection Bureau (CFPB) has identified several areas of potential consumer harm associated with its growing use, including inconsistent consumer protections, and the risk of excessive debt accumulation and over-extension. BNPL proponents have argued that the service enables improved credit access and greater financial inclusion, with approval being quick and relatively easy. More research is needed to assess the overall risks and benefits of BNPL for consumers. As a first step, we draw on new survey data to examine the background and circumstances of consumers who receive and take up BNPL offers. We find both the availability and use of BNPL to be fairly widespread but see disproportionate take-up among consumers with unmet credit needs, limited credit access, and greater financial fragility. While BNPL expands financial inclusion, especially to those with low credit scores, there is a risk that these payment plans contribute to excessive debt accumulation and over-extension.

Take On Payments gives its take on some of the pluses and minuses of the buy now, pay later payment option.

With credit card debt reaching an all-time high, some may be in search of alternative payment methods such as buy now, pay later options. Here's what to know.

Apple is entering the buy now, pay later industry with its Apple Pay Later installment payment option. Here's how it compares with four popular BNPL services.

American consumers are still doing their thing.

Kraft cheese, Jell-O and Twinkies are iconic American brands that are lucky to be alive. Here's the story of how they became dinner table staples - and why t...

“Started from the bottom now we’re here.” —The green bean casserole

People and businesses rely on clear roads for several months out of the year, but salt corrosion is costing us billions of dollars.

F1 set its sights on conquering the US, and with the help of Netflix and "Drive to Survive," it was working. But now there are growing roadblocks.

Building wealth slowly works.

As the 2022 midterms approach, see what issues people in your congressional district care about.

One of my favourite examples of how people react to economic incentives:Architectural tax avoidance👇🇬🇧 UK : tax on windows🇻🇳 Vietnam: tax on frontage 🇫🇷 France: tax on floors (roof exempted)🇧🇷 Brazil: tax on church construction (when finished) pic.twitter.com/35oAcgIFV0— Lionel Page (@page_eco) February 20, 2020

How free is your state in Occupational Freedom? Find out! The Freedom in the 50 States 2023 index from the Cato Institute measures freedom across a range of over 230 policies and across personal, regulatory and fiscal dimensions.

PEOPLE FACE TRADEOFFS Scarcity exists and it doesn’t go away. Because resources are limited, people must make choices. PEOPLE ECONOMIZE People choose the alternatives that they perceive to offer the greatest excess of benefits over costs. ALL CHOICES INVOLVE COSTS The opportunity cost of a choice is the foregone alternative, the (benefits of the) alternative […]

The income of a typical homebuyer in the United States surged to $107,000 from $88,000 last year, as home affordability precipitously worsened, according to an annual report from the National Association of Realtors.

Single women make up an increasing number of homebuyers.

72% of U.S. adults say tipping is expected in more places today than it was five years ago. But even as Americans say they’re being asked to tip more often, only about a third say it’s extremely or very easy to know whether (34%) or how much (33%) to tip for various services.

The Biden administration plans to halt shipments to China of more advanced artificial intelligence chips designed by Nvidia and others, part of a raft of measures released on Tuesday that seek to stop Beijing from receiving cutting-edge U.S. technologies to strengthen its military.

Listed - real estate price guessing game

Kirkland Signature is really what makes Costco, Costco. In 2021, the private label brought in a whopping $58 billion in sales, about a quarter of Costco’s ov...

America has a glut of empty offices.

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