Buy now, pay later is more dangerous than ever

The other day, I went to buy my first big Christmas gift of the year, and there it was, on the checkout page: Would I like to split this purchase up into four easy interest-free payments?  Parting with a smaller amount of money to get something you want sooner is a compelling offer. So compelling that half of all shoppers in the United States plan to use so-called “buy now, pay later,” or BNPL, services for holiday shopping this year, according to a PayPal survey. The same survey showed that one in four millennials and Gen Z-ers use payment options like Affirm and Klarna on a regular