Buy Now, Pay Later Lenders Pitch Loans for Essentials Like Rent and Electricity

'Buy Now, Pay Later' Lenders Pitch Loans for Needs Like Electricity and Rent

As consumer spending tightens, 'buy now, pay later' companies are expanding beyond retail to offer installment loans for everyday necessities such as rent, utilities, and groceries. This shift raises concerns about increased debt among vulnerable households, with critics warning that these loans can carry high fees and interest, potentially trapping borrowers in a cycle of debt. The article examines the growing trend and its implications for financial stability.