Are BNPL schemes here to stay?

BNPL schemes, which as an industry is expected to be worth £43bn by 2025, are used by almost half of Gen Z as its accessibility has been tempting in a pinch. Could it mean the end of credit cards in years to come?

Buy Now Pay Later (BNPL) schemes, which are a form of short-term financing that allows customers to purchase things and pay at a later date, often interest-free, have seen a boom in popularity in recent years. It is now considered the fastest-growing payment method around, with the whole BNPL industry expected to continue growing by more than 250% from £17bn in 2021 to £43bn by 2025. 

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