“Buy Now, Pay Later” Beyond “Pay in 4”, A Comprehensive Product Overview

Nina R. Acree, Kayleigh Barnes, Alexander Bruce and Simona Hannon
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Kayleigh Barnes: https://www.federalreserve.gov/econres/kayleigh-n-barnes.htm

No 2026-06-05-2, FEDS Notes from Board of Governors of the Federal Reserve System (U.S.)

Abstract: The emergence and rapid growth of "Buy Now, Pay Later" (BNPL) services represent a novel financial development in the consumer credit landscape, reflecting evolving payment preferences and changes in point-of-sale financing arrangements. While BNPL providers offer a menu of credit products typically at the point of sale (such as a range of short- and longer-term installment loans in addition to the signature "pay in 4" plans), the nascent literature on BNPL has centered on "pay in 4" products, focusing on user characteristics and usage consequences.

Date: 2026-06-05
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Persistent link: https://EconPapers.repec.org/RePEc:fip:fedgfn:103396

DOI: 10.17016/2380-7172.4094

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