It started over a century ago with instalment loans for big ticket items. But today, buy now, pay later can be used for almost anything, from Coachella tickets to your lunchtime burrito. This new form of consumer finance has attracted criticism for enticing younger borrowers with limited credit histories into debt. But despite critics' reservations, the market is booming. BNPL accounted for $342bn in spending around the world last year, up from $2bn a decade earlier—and major investment funds are getting in on the action. Is BNPL the future of consumer finance?
Hosts: Mike Bird, Alice Fulwood and Ethan Wu. Guests: Max Levchin, co-founder and CEO of Affirm, and Vaibhav Piplapure, managing director at KKR’s asset-based finance team.
Transcripts of our podcasts are available via economist.com/podcasts.
Listen to what matters most, from global politics and business to science and technology—subscribe to Economist Podcasts+.
For more information about how to access Economist Podcasts+, please visit our FAQs page or watch our video explaining how to link your account.
","author_name":"The Economist"}