Consumers have flocked to “buy now, pay later” businesses in recent years as a way to make big purchases more manageable. In fact, these new services have become big competition for traditional store credit cards. Their rapid growth is raising questions about the benefits and risks for consumers, as well as the lack of regulation.

Jeff Tijssen breaks down what makes BNPL so attractive to consumers and businesses, citing research from our “Buy Now, Pay Later in the UK” report.