Buy now, pay later (BNPL) services offer attractive short-term, interest-free payment plans for consumers' purchases.
The increasing popularity of BNPL is causing concern among banks and credit card companies, who see a potential threat to their business.
Millions of Americans already use BNPL, and this number is projected to significantly increase in the coming years.
This shift in consumer behavior represents a considerable challenge for traditional lenders, impacting their revenue streams and credit assessments.
