QoD: Pct. of customers late on “purchase now, pay later” funds
How many individuals are getting what they need now, solely to search out themselves in hassle later?
Reply: 18%
Questions:
- What’s your expertise seeing or utilizing Purchase Now, Pay Later when procuring?
- What are the professionals and cons of utilizing Purchase Now, Pay Later?
- Why do you suppose many customers find yourself making late funds with Purchase Now, Pay Later?
Click on right here for the ready-to-go slides for this Query of the Day that you should use in your classroom.
Behind the numbers (Federal Reserve):
“Most individuals who used BNPL made their funds on time. Total, 18 p.c of people that used BNPL within the prior 12 months have been late making a cost, up 1 proportion level from 2022. Nevertheless, late funds have been extra widespread amongst these with decrease earnings, Hispanic adults, and youthful adults (desk 25). Practically 6 in 10 of these late making a cost (11 p.c of those that used BNPL) mentioned they have been charged further for being late.”
About
the Creator
Kathryn Dawson
Kathryn (she/her) is happy to affix the NGPF workforce after 9 years of expertise in schooling as a mentor, tutor, and particular schooling instructor. She is a graduate of Cornell College with a level in coverage evaluation and administration and has a grasp’s diploma in schooling from Brooklyn School. Kathryn is wanting ahead to bringing her ardour for accessibility and academic justice into curriculum design at NGPF. Throughout her free time, Kathryn loves embarking on cooking initiatives, strolling round her Seattle neighborhood along with her canine, or lounging in a hammock with a ebook.
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