BNPL

🧬 AI profile — grown from 6ic coverage BNPL stands for Buy Now Pay Later, a type of consumer financing service that allows individuals to purchase goods or services and pay for them in installments, often with interest-free or low-interest rates. BNPL providers, such as Klarna, Afterpay, and Clearpay, have gained popularity in recent years, especially among younger generations. The UK's regulation of the BNPL industry aims to protect consumers from potential financial risks associated with these services.