Vox, May 11 2021, Buy now, pay later changed retail. Health care and rent are next.
Thanks to Afterpay and Klarna, it’s easier than ever to buy in installments. Now, the model is coming for necessities.
These buy now, pay later providers have spent years slowly infiltrating the retail market through partnerships with merchants, but the pandemic has accelerated their popularity among online retailers, from luxury brands to independent shops to fast-fashion sites. As a result, more consumers have grown familiar with these services, many of which have buzzy two-syllable names like Affirm, Klarna, Quadpay, and Sezzle.
