What the Rising Number of Buy Now, Pay Later Services Means for Retailers

Dominique Broadway, CEO and founder of Finances Demystified, joined Cheddar to talk about the rising number of buy now, pay later (BNPL) services that are available to online shoppers. She noted that the desire for instant gratification among younger shoppers is at least one driver behind these services but said that without restraint it can be easy to fall into a mountain of debt. However, Broadway said this reverse layaway concept could be a huge opportunity for small and medium-sized businesses to increase their sales.