Impact of Buy Now, Pay Later services on Consumer debt Level

The rapid proliferation of "Buy Now, Pay Later" (BNPL) services has revolutionized the digital payment landscape, particularly among younger demographics. This study investigates the impact of interest-free instalment schemes on consumer spending habits and impulsive buying behaviour. As per the research focuses on the fastest-growing consumer credit segment usually associated with e-commerce, but increasingly offered for brick-and-mortar shopping too. The purpose of the study was to identify how, and the extent to which, specific aspects of consumer behaviour – particularly in terms of attitudes towards money management, and socio-demographics – influence the use of BNPL. The reasons are socio-demographic, economic, psychological and technological. It is the Shift from Traditional Credit Cards to BNPL among Gen Z and Millennials.